Next Century Growth Investors LLC Has $2.85 Million Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Next Century Growth Investors LLC boosted its position in CoStar Group, Inc. (NASDAQ:CSGP) by 867.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 34,410 shares of the technology company’s stock after purchasing an additional 30,852 shares during the period. Next Century Growth Investors LLC’s holdings in CoStar Group were worth $2,849,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Reilly Financial Advisors LLC raised its holdings in CoStar Group by 900.0% in the 2nd quarter. Reilly Financial Advisors LLC now owns 300 shares of the technology company’s stock valued at $25,000 after acquiring an additional 270 shares during the period. Strategic Blueprint LLC acquired a new stake in CoStar Group in the second quarter valued at approximately $27,000. Jacobi Capital Management LLC boosted its position in CoStar Group by 1,150.0% in the second quarter. Jacobi Capital Management LLC now owns 350 shares of the technology company’s stock valued at $29,000 after buying an additional 322 shares in the last quarter. PNC Managed Account Solutions Inc. acquired a new stake in CoStar Group in the second quarter valued at approximately $30,000. Finally, McIlrath & Eck LLC boosted its position in CoStar Group by 900.0% in the second quarter. McIlrath & Eck LLC now owns 380 shares of the technology company’s stock valued at $31,000 after buying an additional 342 shares in the last quarter. 93.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CSGP stock traded up $1.53 during trading hours on Thursday, reaching $90.91. The company had a trading volume of 3,152 shares, compared to its average volume of 2,414,425. CoStar Group, Inc. has a 12 month low of $74.31 and a 12 month high of $95.28. The company has a debt-to-equity ratio of 0.18, a current ratio of 11.62 and a quick ratio of 11.62. The business has a fifty day simple moving average of $86.38 and a 200-day simple moving average of $51.59. The company has a market cap of $35.91 billion, a price-to-earnings ratio of 152.27, a price-to-earnings-growth ratio of 4.82 and a beta of 0.88.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Monday, July 26th. The technology company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.03. CoStar Group had a return on equity of 6.72% and a net margin of 12.68%. The company had revenue of $480.33 million for the quarter, compared to analyst estimates of $469.88 million. During the same quarter last year, the company earned $2.53 earnings per share. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, equities research analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

In related news, Director John W. Hill sold 6,160 shares of CoStar Group stock in a transaction on Monday, August 9th. The stock was sold at an average price of $85.77, for a total transaction of $528,343.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.36% of the stock is owned by company insiders.

A number of brokerages have weighed in on CSGP. Zacks Investment Research upgraded shares of CoStar Group from a “sell” rating to a “hold” rating in a research report on Friday, July 9th. Truist cut their price target on shares of CoStar Group from $107.00 to $98.00 and set a “buy” rating on the stock in a report on Wednesday, July 28th. Finally, Stephens started coverage on CoStar Group in a research report on Wednesday, July 21st. They set a “buy” rating on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $24.59.

CoStar Group Company Profile

CoStar Group, Inc provides commercial real estate information, analytics, and online marketplaces to the commercial real estate and related business communities. The firm’s suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values and market conditions.

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Institutional Ownership by Quarter for CoStar Group (NASDAQ:CSGP)

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