Rosenblum Silverman Sutton S F Inc. CA cut its stake in CoStar Group Inc (NASDAQ:CSGP) by 1.5% in the third quarter, Holdings Channel reports. The fund owned 10,381 shares of the technology company’s stock after selling 153 shares during the period. CoStar Group makes up 1.4% of Rosenblum Silverman Sutton S F Inc. CA’s investment portfolio, making the stock its 25th largest position. Rosenblum Silverman Sutton S F Inc. CA’s holdings in CoStar Group were worth $4,369,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in CSGP. BlackRock Inc. increased its stake in shares of CoStar Group by 9.8% in the 2nd quarter. BlackRock Inc. now owns 2,820,677 shares of the technology company’s stock valued at $1,163,897,000 after acquiring an additional 252,916 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of CoStar Group in the 2nd quarter valued at about $88,290,000. JPMorgan Chase & Co. increased its stake in shares of CoStar Group by 73.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 478,297 shares of the technology company’s stock valued at $201,288,000 after acquiring an additional 202,743 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of CoStar Group by 49.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 442,556 shares of the technology company’s stock valued at $182,611,000 after acquiring an additional 147,283 shares during the last quarter. Finally, Putnam Investments LLC increased its stake in shares of CoStar Group by 82.5% in the 2nd quarter. Putnam Investments LLC now owns 305,109 shares of the technology company’s stock valued at $125,897,000 after acquiring an additional 137,897 shares during the last quarter. 96.29% of the stock is owned by institutional investors.
In related news, Director Christopher J. Nassetta sold 571 shares of the stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $349.67, for a total transaction of $199,661.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.47% of the stock is currently owned by corporate insiders.
NASDAQ CSGP opened at $361.22 on Wednesday. CoStar Group Inc has a 52-week low of $283.11 and a 52-week high of $448.35. The company has a market cap of $12.75 billion, a P/E ratio of 93.34, a price-to-earnings-growth ratio of 2.93 and a beta of 1.52.
CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, October 23rd. The technology company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.08. CoStar Group had a return on equity of 7.63% and a net margin of 17.61%. The business had revenue of $305.53 million during the quarter, compared to analysts’ expectations of $305.99 million. During the same period in the prior year, the business earned $1.41 EPS. CoStar Group’s revenue for the quarter was up 23.4% compared to the same quarter last year. On average, analysts anticipate that CoStar Group Inc will post 7.13 earnings per share for the current year.
A number of analysts have recently commented on CSGP shares. Bank of America upped their price target on CoStar Group from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Wednesday, July 25th. SunTrust Banks increased their target price on CoStar Group to $475.00 and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Needham & Company LLC increased their target price on CoStar Group from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Citigroup increased their target price on CoStar Group from $425.00 to $490.00 and gave the stock a “buy” rating in a research note on Wednesday, July 25th. They noted that the move was a valuation call. Finally, BidaskClub cut CoStar Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. CoStar Group presently has an average rating of “Buy” and a consensus target price of $451.44.
About CoStar Group
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.
Recommended Story: Debt-To-Equity Ratio
Want to see what other hedge funds are holding CSGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CoStar Group Inc (NASDAQ:CSGP).
Receive News & Ratings for CoStar Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CoStar Group and related companies with MarketBeat.com's FREE daily email newsletter.