Raymond James & Associates reduced its stake in CoStar Group, Inc. (NASDAQ:CSGP – Get Rating) by 3.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 629,312 shares of the technology company’s stock after selling 25,405 shares during the quarter. Raymond James & Associates owned 0.15% of CoStar Group worth $43,328,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Teza Capital Management LLC grew its stake in shares of CoStar Group by 114.0% in the 3rd quarter. Teza Capital Management LLC now owns 11,608 shares of the technology company’s stock valued at $808,000 after purchasing an additional 6,184 shares during the last quarter. Forsta AP Fonden boosted its stake in shares of CoStar Group by 20.5% in the fourth quarter. Forsta AP Fonden now owns 91,700 shares of the technology company’s stock valued at $7,087,000 after buying an additional 15,600 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of CoStar Group in the fourth quarter valued at approximately $750,000. Crossmark Global Holdings Inc. boosted its stake in shares of CoStar Group by 81.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 20,704 shares of the technology company’s stock valued at $1,600,000 after buying an additional 9,268 shares in the last quarter. Finally, Ieq Capital LLC boosted its stake in shares of CoStar Group by 17.0% in the fourth quarter. Ieq Capital LLC now owns 6,782 shares of the technology company’s stock valued at $524,000 after buying an additional 984 shares in the last quarter. 93.86% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on CSGP shares. StockNews.com started coverage on CoStar Group in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Needham & Company LLC lifted their price target on CoStar Group from $80.00 to $90.00 in a research note on Wednesday, April 26th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.08.
Insider Transactions at CoStar Group
CoStar Group Stock Performance
Shares of CSGP stock opened at $89.92 on Wednesday. The stock has a fifty day moving average price of $78.47 and a 200 day moving average price of $75.57. The stock has a market cap of $36.74 billion, a PE ratio of 98.81, a P/E/G ratio of 4.11 and a beta of 0.88. CoStar Group, Inc. has a 1 year low of $57.54 and a 1 year high of $90.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.21 and a current ratio of 13.21.
CoStar Group (NASDAQ:CSGP – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. CoStar Group had a return on equity of 6.73% and a net margin of 16.32%. The firm had revenue of $584.37 million during the quarter, compared to analysts’ expectations of $579.36 million. During the same period in the previous year, the firm posted $0.28 earnings per share. CoStar Group’s revenue was up 13.3% on a year-over-year basis. Sell-side analysts forecast that CoStar Group, Inc. will post 1.07 earnings per share for the current fiscal year.
CoStar Group Company Profile
CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.
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