CoStar Group, Inc. (NASDAQ:CSGP) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 25.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,435 shares of the technology company’s stock after purchasing an additional 1,507 shares during the period. Sequoia Financial Advisors LLC’s holdings in CoStar Group were worth $561,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB acquired a new position in CoStar Group in the first quarter valued at approximately $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 in 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 in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in CoStar Group by 5.3% in the first 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. Finally, Twin Tree Management LP acquired a new position in CoStar Group in the first quarter valued at approximately $802,000. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Trading Up 0.8 %

NASDAQ:CSGP opened at $74.48 on Friday. The stock has a fifty day moving average price of $76.46 and a two-hundred day moving average price of $79.02. The stock has a market capitalization of $30.52 billion, a price-to-earnings ratio of 169.28 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. The firm had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a return on equity of 3.54% and a net margin of 6.57%. CoStar Group’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 earnings per share. As a group, sell-side analysts anticipate that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CSGP. BMO Capital Markets lowered their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday. The Goldman Sachs Group decreased their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Bank of America decreased their price objective on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Robert W. Baird decreased their price objective on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods decreased their price objective on CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, CoStar Group currently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

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.