HBK Sorce Advisory LLC Has $424,000 Position in CoStar Group, Inc. (NASDAQ:CSGP)

HBK Sorce Advisory LLC lifted its position in CoStar Group, Inc. (NASDAQ:CSGP) by 13.9% during the second quarter, HoldingsChannel.com reports. The fund owned 5,714 shares of the technology company’s stock after purchasing an additional 696 shares during the period. HBK Sorce Advisory LLC’s holdings in CoStar Group were worth $424,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Swedbank AB acquired a new stake in CoStar Group in the first quarter worth $4,223,000. SG Americas Securities LLC lifted its holdings in CoStar Group by 390.8% during the first quarter. SG Americas Securities LLC now owns 99,800 shares of the technology company’s stock worth $9,641,000 after acquiring an additional 79,467 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of CoStar Group by 1.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,675 shares of the technology company’s stock worth $100,046,000 after acquiring an additional 17,658 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of CoStar Group by 70.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 60,163 shares of the technology company’s stock worth $5,258,000 after acquiring an additional 24,866 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of CoStar Group by 5.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 477,691 shares of the technology company’s stock valued at $46,145,000 after purchasing an additional 23,987 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Up 1.2 %

NASDAQ:CSGP opened at $78.87 on Friday. CoStar Group, Inc. has a twelve month low of $67.35 and a twelve month high of $100.38. The firm has a market capitalization of $32.32 billion, a price-to-earnings ratio of 108.04, a price-to-earnings-growth ratio of 11.80 and a beta of 0.81. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $75.92 and its two-hundred day moving average price is $82.27.

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 analysts’ consensus estimates of $0.09 by $0.06. The business had revenue of $677.80 million for 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 earnings per share. Equities research analysts expect that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, July 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $96.00 price objective on shares of CoStar Group in a research report on Tuesday, September 10th. Robert W. Baird lowered their target price on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. The Goldman Sachs Group cut their price target on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $107.00 price objective on shares of CoStar Group in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, CoStar Group presently has a consensus rating of “Moderate Buy” and an average price target of $96.38.

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.