CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC cut its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 4.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 26,405 shares of the technology company’s stock after selling 1,249 shares during the period. Commonwealth Equity Services LLC’s holdings in CoStar Group were worth $1,958,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in CoStar Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock valued at $6,322,615,000 after acquiring an additional 541,700 shares during the period. Janus Henderson Group PLC boosted its position in CoStar Group by 17.7% during 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 purchasing an additional 1,773,564 shares during the period. Bank of New York Mellon Corp grew its stake in CoStar Group by 2.1% during 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 buying an additional 124,761 shares during the last quarter. Norges Bank acquired a new stake in CoStar Group in the fourth quarter worth $406,934,000. Finally, Blair William & Co. IL lifted its stake in CoStar Group by 0.6% in 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 buying an additional 26,800 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $96.00 price objective on shares of CoStar Group in a research report on Tuesday. Bank of America lowered their target price on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. boosted their price target on CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $96.38.

CoStar Group Stock Up 1.2 %

CSGP stock opened at $78.87 on Friday. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 12-month low of $67.35 and a 12-month high of $100.38. The company has a 50 day moving average of $75.92 and a two-hundred day moving average of $82.29. The company has a market cap of $32.32 billion, a price-to-earnings ratio of 108.04, a PEG ratio of 11.80 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.06. The company had revenue of $677.80 million for the quarter, compared to analyst estimates of $677.18 million. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 EPS. On average, equities 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.