Northwestern Mutual Wealth Management Co. Buys 16,084 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Northwestern Mutual Wealth Management Co. grew its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 10.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 165,066 shares of the technology company’s stock after acquiring an additional 16,084 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in CoStar Group were worth $12,238,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Crewe Advisors LLC acquired a new stake in shares of CoStar Group during the first quarter worth about $31,000. Riverview Trust Co bought a new stake in CoStar Group during the 1st quarter worth approximately $35,000. RiverPark Advisors LLC acquired a new stake in CoStar Group during the 1st quarter worth approximately $37,000. Industrial Alliance Investment Management Inc. acquired a new stake in CoStar Group during the 2nd quarter worth approximately $49,000. Finally, Covestor Ltd lifted its stake in CoStar Group by 43.0% in the first quarter. Covestor Ltd now owns 702 shares of the technology company’s stock valued at $68,000 after buying an additional 211 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CSGP has been the topic of a number of research analyst reports. 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. Royal Bank of Canada reissued an “outperform” rating and issued a $96.00 price target on shares of CoStar Group in a research note on Tuesday, September 10th. 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. Needham & Company LLC reiterated a “buy” rating and set a $107.00 price objective on shares of CoStar Group in a report on Tuesday, September 17th. Finally, Bank of America cut their target price on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and an average target price of $96.38.

CoStar Group Price Performance

NASDAQ:CSGP opened at $74.65 on Wednesday. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $76.29 and a 200 day simple moving average of $81.25. CoStar Group, Inc. has a 1-year low of $67.35 and a 1-year high of $100.38. The stock has a market capitalization of $30.59 billion, a PE ratio of 102.26 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The company had revenue of $677.80 million for the quarter, compared to analysts’ expectations of $677.18 million. During the same period in the prior year, the firm earned $0.27 EPS. CoStar Group’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, research analysts expect 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.