Caprock Group LLC Takes $223,000 Position in CoStar Group, Inc. (NASDAQ:CSGP)

Caprock Group LLC acquired a new stake in CoStar Group, Inc. (NASDAQ:CSGP) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,010 shares of the technology company’s stock, valued at approximately $223,000.

A number of other large investors also recently modified their holdings of the company. Concurrent Investment Advisors LLC boosted its position in shares of CoStar Group by 4.7% in the first quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock valued at $242,000 after acquiring an additional 112 shares during the period. Lindbrook Capital LLC raised its stake in CoStar Group by 9.2% in the first quarter. Lindbrook Capital LLC now owns 1,337 shares of the technology company’s stock valued at $129,000 after purchasing an additional 113 shares in the last quarter. Picton Mahoney Asset Management raised its stake in CoStar Group by 2.9% in the second quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock valued at $352,000 after purchasing an additional 135 shares in the last quarter. Redmond Asset Management LLC raised its stake in CoStar Group by 0.9% in the first quarter. Redmond Asset Management LLC now owns 18,670 shares of the technology company’s stock valued at $1,804,000 after purchasing an additional 169 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC raised its stake in CoStar Group by 0.5% in the second quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock valued at $2,688,000 after purchasing an additional 172 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Trading Up 1.2 %

Shares of CoStar Group stock opened at $78.87 on Friday. CoStar Group, Inc. has a fifty-two week low of $67.35 and a fifty-two 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 company has a market capitalization of $32.32 billion, a P/E ratio of 108.04, a P/E/G ratio of 11.80 and a beta of 0.81. The company has a fifty day moving average of $75.92 and a 200 day moving average of $82.29.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.09 by $0.06. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The business had revenue of $677.80 million for the quarter, compared to the consensus estimate of $677.18 million. During the same period in the previous year, the business earned $0.27 earnings per share. The business’s revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, July 29th. Bank of America lowered their target price 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $107.00 target price on shares of CoStar Group in a research note on Wednesday, July 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $96.00 target price on shares of CoStar Group in a research note on Tuesday. Finally, The Goldman Sachs Group decreased their price target on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.38.

About CoStar Group

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.