Thoroughbred Financial Services LLC Buys New Shares in CoStar Group, Inc. (NASDAQ:CSGP)

Thoroughbred Financial Services LLC purchased a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,121 shares of the technology company’s stock, valued at approximately $527,000.

A number of other hedge funds also recently bought and sold shares of CSGP. HBK Sorce Advisory LLC lifted its stake in CoStar Group by 13.9% in the second quarter. HBK Sorce Advisory LLC now owns 5,714 shares of the technology company’s stock worth $424,000 after acquiring an additional 696 shares during the last quarter. Meeder Advisory Services Inc. grew its stake in shares of CoStar Group by 24.2% during the second quarter. Meeder Advisory Services Inc. now owns 3,710 shares of the technology company’s stock worth $275,000 after purchasing an additional 724 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in CoStar Group by 151.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 243,423 shares of the technology company’s stock valued at $17,992,000 after buying an additional 146,658 shares in the last quarter. Main Street Financial Solutions LLC acquired a new position in shares of CoStar Group during the 2nd quarter worth about $329,000. Finally, BOKF NA raised its position in shares of CoStar Group by 12.0% during the 2nd quarter. BOKF NA now owns 15,868 shares of the technology company’s stock worth $1,176,000 after acquiring an additional 1,698 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

CSGP has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $96.00 price target on shares of CoStar Group in a research note on Tuesday, September 10th. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research report on Friday, September 6th. Robert W. Baird decreased their price target on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Bank of America dropped their price objective 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. Finally, JPMorgan Chase & Co. lifted their target price on shares of CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Monday, August 5th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.38.

CoStar Group Stock Performance

NASDAQ CSGP opened at $77.90 on Tuesday. CoStar Group, Inc. has a fifty-two week low of $67.35 and a fifty-two week high of $100.38. The stock has a market cap of $31.81 billion, a price-to-earnings ratio of 106.71, a price-to-earnings-growth ratio of 11.56 and a beta of 0.81. The business has a fifty day moving average of $76.03 and a 200-day moving average of $82.18. 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 (NASDAQ:CSGP) last released its quarterly 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. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The company had revenue of $677.80 million during the quarter, compared to analysts’ expectations of $677.18 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, analysts predict that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

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.