Balyasny Asset Management LLC Grows Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Balyasny Asset Management LLC boosted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP – Get Rating) by 70.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 559,371 shares of the technology company’s stock after buying an additional 230,373 shares during the period. Balyasny Asset Management LLC owned approximately 0.14% of CoStar Group worth $38,961,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC increased its stake in CoStar Group by 43.3% in the second quarter. Lazard Asset Management LLC now owns 493 shares of the technology company’s stock worth $29,000 after purchasing an additional 149 shares during the period. American National Bank purchased a new stake in CoStar Group in the third quarter worth $51,000. Huntington National Bank increased its stake in CoStar Group by 50.8% in the third quarter. Huntington National Bank now owns 739 shares of the technology company’s stock worth $51,000 after purchasing an additional 249 shares during the period. Harbor Investment Advisory LLC increased its stake in CoStar Group by 39.0% in the third quarter. Harbor Investment Advisory LLC now owns 1,016 shares of the technology company’s stock worth $71,000 after purchasing an additional 285 shares during the period. Finally, Wipfli Financial Advisors LLC purchased a new stake in CoStar Group in the third quarter worth $78,000. Hedge funds and other institutional investors own 97.80% of the company’s stock.

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CoStar Group Price Performance

Shares of CSGP stock opened at $67.62 on Wednesday. CoStar Group, Inc. has a 1-year low of $53.51 and a 1-year high of $85.37. The stock’s 50-day moving average is $75.59 and its 200 day moving average is $76.22. The company has a market cap of $27.51 billion, a P/E ratio of 72.71, a PEG ratio of 3.61 and a beta of 0.88. The company has a debt-to-equity ratio of 0.14, a current ratio of 13.92 and a quick ratio of 13.92.

Analyst Ratings Changes

CSGP has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on CoStar Group in a research note on Friday, December 16th. They issued an “overweight” rating and a $100.00 target price on the stock. Needham & Company LLC reduced their target price on CoStar Group from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, February 22nd. JMP Securities reiterated a “market outperform” rating and issued a $85.00 target price on shares of CoStar Group in a research note on Wednesday, February 22nd. BMO Capital Markets dropped their price target on CoStar Group from $84.00 to $68.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 22nd. Finally, Bank of America reissued a “buy” rating and set a $100.00 price target on shares of CoStar Group in a research report on Friday, November 18th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and an average price target of $86.25.

Insider Activity at CoStar Group

In related news, insider Michael J. Desmarais sold 5,600 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $70.36, for a total transaction of $394,016.00. Following the sale, the insider now owns 44,846 shares of the company’s stock, valued at $3,155,364.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.42% of the stock is owned by corporate insiders.

About CoStar Group

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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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