LGT Fund Management Co Ltd. Has $898,000 Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

LGT Fund Management Co Ltd. grew its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 207.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,118 shares of the technology company’s stock after purchasing an additional 8,177 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in CoStar Group were worth $898,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crewe Advisors LLC acquired a new position in CoStar Group during the first quarter valued at approximately $31,000. Riverview Trust Co acquired a new position in shares of CoStar Group in the 1st quarter valued at $35,000. RiverPark Advisors LLC bought a new stake in shares of CoStar Group in the 1st quarter valued at $37,000. Connectus Wealth LLC raised its stake in CoStar Group by 915.0% during the 4th quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock worth $45,000 after buying an additional 467,534 shares during the period. Finally, Industrial Alliance Investment Management Inc. acquired a new stake in CoStar Group during the 2nd quarter worth $49,000. 96.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CSGP. The Goldman Sachs Group lowered their price target on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Royal Bank of Canada restated an “outperform” rating and set a $96.00 target price on shares of CoStar Group in a report on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $107.00 price target on shares of CoStar Group in a report on Wednesday, July 24th. Robert W. Baird lowered their price objective on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their price objective 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.38.

CoStar Group Stock Performance

CSGP opened at $79.20 on Wednesday. CoStar Group, Inc. has a 12-month low of $67.35 and a 12-month high of $100.38. The business has a 50 day moving average of $75.61 and a 200-day moving average of $82.37. 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 stock has a market cap of $32.46 billion, a price-to-earnings ratio of 108.49, a PEG ratio of 11.48 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. The company 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%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.27 earnings per share. On average, equities research analysts expect that CoStar Group, Inc. will post 0.49 earnings per share for the current year.

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.