KP Management LLC Cuts Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

KP Management LLC cut its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 41.6% in the second quarter, HoldingsChannel reports. The firm owned 22,500 shares of the technology company’s stock after selling 16,000 shares during the quarter. KP Management LLC’s holdings in CoStar Group were worth $1,668,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Crewe Advisors LLC acquired a new stake in CoStar Group in the 1st quarter valued at about $31,000. Riverview Trust Co purchased a new stake in shares of CoStar Group during the first quarter worth approximately $35,000. RiverPark Advisors LLC acquired a new stake in CoStar Group in the first quarter valued at approximately $37,000. Connectus Wealth LLC lifted its stake in CoStar Group by 915.0% in the fourth quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock worth $45,000 after acquiring an additional 467,534 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. purchased a new position in CoStar Group in the second quarter worth approximately $49,000. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $74.65 on Wednesday. The firm’s fifty day simple moving average is $76.29 and its 200-day simple moving average is $81.25. CoStar Group, Inc. has a 12 month low of $67.35 and a 12 month high of $100.38. The stock has a market capitalization of $30.59 billion, a price-to-earnings ratio of 102.26 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.

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 the consensus estimate 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 the consensus estimate of $677.18 million. During the same period last year, the firm posted $0.27 EPS. CoStar Group’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities analysts forecast that CoStar Group, Inc. will post 0.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Keefe, Bruyette & Woods cut their price target on CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $96.00 price objective on shares of CoStar Group in a research report on Tuesday, September 10th. StockNews.com raised CoStar Group from a “sell” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Robert W. Baird lowered their price target on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.