Oakbrook Investments LLC decreased its stake in CoStar Group Inc (NASDAQ:CSGP) by 8.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,703 shares of the technology company’s stock after selling 150 shares during the period. Oakbrook Investments LLC’s holdings in CoStar Group were worth $944,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Executive Wealth Management LLC bought a new position in CoStar Group during the fourth quarter worth about $32,000. AdvisorNet Financial Inc bought a new position in CoStar Group during the second quarter worth about $52,000. Icon Wealth Partners LLC bought a new position in CoStar Group during the first quarter worth about $90,000. Penserra Capital Management LLC bought a new stake in shares of CoStar Group during the first quarter worth approximately $179,000. Finally, ETF Managers Group LLC boosted its holdings in shares of CoStar Group by 7.9% during the first quarter. ETF Managers Group LLC now owns 394 shares of the technology company’s stock worth $184,000 after acquiring an additional 29 shares during the period. Institutional investors own 95.97% of the company’s stock.
In other CoStar Group news, Director John W. Hill sold 315 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $553.23, for a total transaction of $174,267.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.14% of the stock is owned by insiders.
A number of equities research analysts have recently issued reports on CSGP shares. Zacks Investment Research upgraded Focus Financial Partners from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Monday, June 24th. Wells Fargo & Co boosted their price objective on Twitter from $33.00 to $40.00 and gave the stock a “market perform” rating in a report on Wednesday, April 24th. Needham & Company LLC boosted their price objective on CoStar Group from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Bank of America restated a “buy” rating and set a $60.00 price objective (up previously from $55.00) on shares of Western Digital in a report on Wednesday, April 24th. Finally, BidaskClub upgraded shares of Westport Fuel Systems from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $559.00.
Shares of NASDAQ CSGP traded down $3.26 during midday trading on Tuesday, reaching $580.56. The company’s stock had a trading volume of 296,857 shares, compared to its average volume of 229,214. CoStar Group Inc has a fifty-two week low of $315.85 and a fifty-two week high of $592.34. The stock’s 50 day moving average price is $558.36. The firm has a market cap of $21.40 billion, a P/E ratio of 78.45, a P/E/G ratio of 4.32 and a beta of 1.34.
CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, April 23rd. The technology company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.11. CoStar Group had a net margin of 21.76% and a return on equity of 10.09%. The company had revenue of $328.00 million during the quarter, compared to the consensus estimate of $327.45 million. During the same period in the previous year, the business earned $1.44 earnings per share. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. On average, equities research analysts anticipate that CoStar Group Inc will post 9 EPS for the current year.
About CoStar Group
CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.
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