CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by New Century Financial Group LLC

New Century Financial Group LLC reduced its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 7.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,190 shares of the technology company’s stock after selling 253 shares during the period. New Century Financial Group LLC’s holdings in CoStar Group were worth $241,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of CoStar Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock worth $6,322,615,000 after acquiring an additional 541,700 shares during the last quarter. Janus Henderson Group PLC raised its position in CoStar Group by 17.7% in the first 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 lifted its stake in CoStar Group by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock worth $453,534,000 after purchasing an additional 124,761 shares in the last quarter. Blair William & Co. IL boosted its position in shares of CoStar Group by 0.6% during the first quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company’s stock worth $426,951,000 after buying an additional 26,800 shares during the period. Finally, Vulcan Value Partners LLC boosted its position in shares of CoStar Group by 90.1% during the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock worth $306,831,000 after buying an additional 1,961,917 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Stock Down 2.4 %

Shares of NASDAQ CSGP opened at $77.36 on Tuesday. CoStar Group, Inc. has a 1 year low of $67.35 and a 1 year high of $100.38. The company has a market capitalization of $31.70 billion, a price-to-earnings ratio of 145.97 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27. The business has a 50-day moving average of $76.40 and a two-hundred day moving average of $79.37.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, July 23rd. The technology company reported $0.15 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 firm had revenue of $677.80 million for the quarter, compared to the consensus estimate of $677.18 million. During the same period last year, the firm posted $0.27 EPS. The company’s revenue was up 11.9% on a year-over-year basis. On average, analysts forecast that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

CSGP has been the topic of several research analyst reports. Bank of America cut their price objective on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. The Goldman Sachs Group reduced their price target on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Royal Bank of Canada restated an “outperform” rating and issued a $96.00 price objective on shares of CoStar Group in a report on Tuesday, September 10th. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $96.38.

CoStar Group Company 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.