Russell Investments Group Ltd. decreased its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 10.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 198,219 shares of the technology company’s stock after selling 23,567 shares during the period. Russell Investments Group Ltd. owned 0.61% of CoStar Group worth $52,260,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of CoStar Group by 5,124.3% in the first quarter. BlackRock Inc. now owns 1,546,911 shares of the technology company’s stock valued at $320,551,000 after buying an additional 1,517,301 shares in the last quarter. Wellington Management Group LLP boosted its position in CoStar Group by 37.2% in the first quarter. Wellington Management Group LLP now owns 1,859,435 shares of the technology company’s stock worth $385,312,000 after buying an additional 503,903 shares during the period. Independence Advisors LLC acquired a new position in CoStar Group during the second quarter worth approximately $32,338,000. Norges Bank purchased a new stake in shares of CoStar Group during the fourth quarter worth $24,871,000. Finally, Columbia Wanger Asset Management LLC raised its stake in shares of CoStar Group by 78.5% in the first quarter. Columbia Wanger Asset Management LLC now owns 234,026 shares of the technology company’s stock worth $48,495,000 after buying an additional 102,946 shares in the last quarter.
CoStar Group, Inc. (NASDAQ CSGP) traded up 0.59% during trading on Wednesday, hitting $281.18. 112,240 shares of the stock traded hands. CoStar Group, Inc. has a 12 month low of $179.21 and a 12 month high of $284.47. The firm has a 50-day moving average price of $268.24 and a 200 day moving average price of $233.08. The firm has a market cap of $9.23 billion, a PE ratio of 94.39 and a beta of 1.51.
CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.23. CoStar Group had a net margin of 10.85% and a return on equity of 7.19%. The firm had revenue of $237.20 million for the quarter, compared to the consensus estimate of $234.38 million. During the same period last year, the firm earned $0.91 earnings per share. The company’s quarterly revenue was up 14.6% on a year-over-year basis. On average, equities analysts forecast that CoStar Group, Inc. will post $4.49 EPS for the current fiscal year.
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CSGP has been the topic of a number of analyst reports. Citigroup Inc. set a $320.00 price target on CoStar Group and gave the company a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research raised CoStar Group from a “hold” rating to a “buy” rating and set a $293.00 price target on the stock in a research note on Thursday, June 1st. B. Riley reaffirmed a “buy” rating and issued a $325.00 target price on shares of CoStar Group in a report on Wednesday, July 19th. Finally, SunTrust Banks, Inc. increased their price objective on CoStar Group from $275.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, July 5th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. CoStar Group has a consensus rating of “Buy” and an average price target of $309.50.
In other CoStar Group news, VP Matthew Linnington sold 1,767 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $273.15, for a total value of $482,656.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael R. Klein sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $265.01, for a total transaction of $5,300,200.00. The disclosure for this sale can be found here. 2.98% of the stock is currently owned by company insiders.
CoStar Group Company Profile
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.
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