Point72 Hong Kong Ltd Takes Position in CoStar Group, Inc. (NASDAQ:CSGP)

Point72 Hong Kong Ltd bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,803 shares of the technology company’s stock, valued at approximately $356,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Swedbank AB purchased a new position in CoStar Group in the first quarter valued at about $4,223,000. SG Americas Securities LLC boosted its holdings in CoStar Group by 390.8% in the first quarter. SG Americas Securities LLC now owns 99,800 shares of the technology company’s stock valued at $9,641,000 after purchasing an additional 79,467 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in 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 valued at $100,046,000 after purchasing an additional 17,658 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in CoStar Group by 70.4% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 60,163 shares of the technology company’s stock worth $5,258,000 after buying an additional 24,866 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in 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 worth $46,145,000 after buying an additional 23,987 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CSGP. The Goldman Sachs Group reduced their target price on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Robert W. Baird cut their price target on CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, July 29th. Bank of America cut their price target on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Finally, Keefe, Bruyette & Woods lowered their target price on CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. One investment 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.38.

CoStar Group Stock Performance

CSGP opened at $74.73 on Friday. The firm has a market cap of $30.52 billion, a PE ratio of 102.37 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 business has a fifty day simple moving average of $76.29 and a 200-day simple moving average of $81.70. CoStar Group, Inc. has a fifty-two week low of $67.35 and a fifty-two week high of $100.38.

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