Daiwa Securities Group Inc. Acquires 5,614 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Daiwa Securities Group Inc. increased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 8.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,321 shares of the technology company’s stock after acquiring an additional 5,614 shares during the quarter. Daiwa Securities Group Inc.’s holdings in CoStar Group were worth $5,288,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of CoStar Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock worth $6,322,615,000 after purchasing an additional 541,700 shares during the period. Janus Henderson Group PLC raised its holdings in CoStar Group by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after acquiring an additional 1,773,564 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of CoStar Group by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock worth $453,534,000 after acquiring an additional 124,761 shares during the period. Norges Bank acquired a new stake in shares of CoStar Group during the 4th quarter worth approximately $406,934,000. Finally, Blair William & Co. IL increased its position in shares of CoStar Group by 0.6% during the first quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company’s stock valued at $426,951,000 after purchasing an additional 26,800 shares during the period. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on CSGP. Bank of America decreased their price target on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Keefe, Bruyette & Woods decreased their target price on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Robert W. Baird dropped their price target on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $107.00 price objective on shares of CoStar Group in a report on Wednesday, July 24th. Finally, JMP Securities reissued a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and a consensus target price of $96.38.

CoStar Group Price Performance

NASDAQ CSGP opened at $79.61 on Thursday. The stock has a market cap of $32.63 billion, a price-to-earnings ratio of 109.05, a PEG ratio of 11.48 and a beta of 0.81. CoStar Group, Inc. has a 52-week low of $67.35 and a 52-week high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. The business has a 50 day simple moving average of $75.72 and a 200 day simple moving average of $82.35.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The business had revenue of $677.80 million during the quarter, compared to the consensus estimate of $677.18 million. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. Analysts anticipate that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

CoStar Group 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.