Stephens Investment Management Group LLC trimmed its stake in CoStar Group Inc (NASDAQ:CSGP) by 9.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 207,566 shares of the technology company’s stock after selling 21,169 shares during the period. CoStar Group comprises 1.7% of Stephens Investment Management Group LLC’s holdings, making the stock its 3rd biggest holding. Stephens Investment Management Group LLC’s holdings in CoStar Group were worth $86,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in CSGP. Korea Investment CORP purchased a new stake in CoStar Group during the first quarter worth $109,000. FineMark National Bank & Trust purchased a new stake in CoStar Group during the second quarter worth $205,000. Adviser Investments LLC purchased a new stake in CoStar Group during the first quarter worth $181,000. Nwam LLC purchased a new stake in CoStar Group during the second quarter worth $208,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in CoStar Group by 39.0% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 510 shares of the technology company’s stock worth $183,000 after buying an additional 143 shares in the last quarter. 96.16% of the stock is owned by institutional investors.
A number of analysts recently issued reports on CSGP shares. Bank of America increased their price target on shares of CoStar Group from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. SunTrust Banks increased their price target on shares of CoStar Group to $475.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. Needham & Company LLC upped their price objective on shares of CoStar Group from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Citigroup upped their price objective on shares of CoStar Group from $425.00 to $490.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. They noted that the move was a valuation call. Finally, BidaskClub cut shares of CoStar Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $440.09.
NASDAQ:CSGP traded down $2.42 during trading hours on Thursday, reaching $439.71. 137 shares of the company were exchanged, compared to its average volume of 136,421. The stock has a market capitalization of $15.97 billion, a PE ratio of 114.13, a P/E/G ratio of 3.75 and a beta of 1.47. CoStar Group Inc has a twelve month low of $255.41 and a twelve month high of $446.96.
CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, July 24th. The technology company reported $1.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.35. The company had revenue of $229.90 million during the quarter, compared to analysts’ expectations of $293.55 million. CoStar Group had a net margin of 16.27% and a return on equity of 7.25%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 earnings per share. equities research analysts predict that CoStar Group Inc will post 6.98 earnings per share for the current year.
In other news, VP Francis Carchedi sold 32,671 shares of the stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $421.87, for a total value of $13,782,914.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Matthew Linnington sold 4,384 shares of the stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $411.93, for a total transaction of $1,805,901.12. The disclosure for this sale can be found here. Insiders have sold 56,755 shares of company stock valued at $23,901,460 over the last 90 days. 2.47% of the stock is currently owned by company insiders.
CoStar Group Company Profile
CoStar Group, Inc provides information, analytics, and online marketplace to the commercial real estate industry in North America and internationally. The company offers CoStar Property Professional service that provides inventory of office, industrial, retail, and multifamily properties and land. It also provides CoStar COMPS Professional, which covers comparable commercial real estate sales information; CoStar Tenant, an online business-to-business prospecting and analytical tool; CoStarGo, an iPad and Android application; CoStar Lease Comps, an integrated solution that captures, manages, maintains, and analyzes lease data; CoStar Advertising to market a space for lease or a property for sale; and CoStar Portfolio Strategy to meet the research needs of commercial real estate owners, investors, lenders, and government regulators.
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