Creative Planning boosted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP – Free Report) by 28.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,923 shares of the technology company’s stock after acquiring an additional 3,964 shares during the quarter. Creative Planning’s holdings in CoStar Group were worth $1,595,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the business. Raymond James Financial Services Advisors Inc. boosted its holdings in CoStar Group by 111.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 15,683 shares of the technology company’s stock valued at $1,045,000 after acquiring an additional 8,253 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of CoStar Group by 504.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,874 shares of the technology company’s stock worth $125,000 after purchasing an additional 1,564 shares in the last quarter. MetLife Investment Management LLC acquired a new position in shares of CoStar Group during the first quarter worth about $1,427,000. Panagora Asset Management Inc. lifted its stake in shares of CoStar Group by 10.6% during the first quarter. Panagora Asset Management Inc. now owns 12,007 shares of the technology company’s stock worth $800,000 after purchasing an additional 1,152 shares in the last quarter. Finally, Raymond James Trust N.A. lifted its stake in shares of CoStar Group by 32.3% during the first quarter. Raymond James Trust N.A. now owns 5,884 shares of the technology company’s stock worth $392,000 after purchasing an additional 1,435 shares in the last quarter. 96.53% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have commented on the company. TheStreet cut CoStar Group from a “b” rating to a “c+” rating in a research note on Thursday, September 7th. StockNews.com started coverage on CoStar Group in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Royal Bank of Canada boosted their price target on CoStar Group from $85.00 to $95.00 in a research note on Thursday, July 6th. Robert W. Baird cut their price target on CoStar Group from $100.00 to $98.00 in a research note on Wednesday, July 26th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $100.00 price target on shares of CoStar Group in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, CoStar Group currently has an average rating of “Moderate Buy” and an average price target of $92.00.
CoStar Group Price Performance
Shares of NASDAQ:CSGP opened at $80.18 on Friday. The company has a current ratio of 12.30, a quick ratio of 12.30 and a debt-to-equity ratio of 0.14. CoStar Group, Inc. has a 1 year low of $65.12 and a 1 year high of $92.36. The business has a fifty day simple moving average of $80.16 and a 200 day simple moving average of $79.59. The firm has a market cap of $32.74 billion, a price-to-earnings ratio of 84.40, a P/E/G ratio of 3.75 and a beta of 0.90.
CoStar Group (NASDAQ:CSGP – Get Free Report) last posted its earnings results on Tuesday, July 25th. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. The firm had revenue of $605.91 million for the quarter, compared to the consensus estimate of $607.49 million. CoStar Group had a net margin of 16.56% and a return on equity of 6.61%. As a group, sell-side analysts predict that CoStar Group, Inc. will post 1.09 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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