Fmr LLC raised its holdings in CoStar Group Inc (NASDAQ:CSGP) by 47.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 292,395 shares of the technology company’s stock after buying an additional 93,891 shares during the quarter. Fmr LLC owned approximately 0.80% of CoStar Group worth $120,651,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of CSGP. Summit Trail Advisors LLC grew its holdings in shares of CoStar Group by 21,110.0% during the 1st quarter. Summit Trail Advisors LLC now owns 105,838 shares of the technology company’s stock worth $106,000 after purchasing an additional 105,339 shares during the period. Korea Investment CORP purchased a new stake in shares of CoStar Group during the 1st quarter worth about $109,000. Adviser Investments LLC purchased a new stake in shares of CoStar Group during the 1st quarter worth about $181,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of CoStar Group by 39.0% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 510 shares of the technology company’s stock worth $183,000 after purchasing an additional 143 shares during the period. Finally, FineMark National Bank & Trust purchased a new stake in shares of CoStar Group during the 2nd quarter worth about $205,000. Institutional investors own 96.14% of the company’s stock.
A number of analysts have recently issued reports on the company. Needham & Company LLC boosted their target price on CoStar Group from $475.00 to $500.00 and gave the stock a “buy” rating in a report on Wednesday. BidaskClub cut CoStar Group from a “buy” rating to a “hold” rating in a report on Saturday, September 8th. Zacks Investment Research cut CoStar Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 30th. Bank of America boosted their target price on CoStar Group from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. Finally, SunTrust Banks boosted their target price on CoStar Group to $475.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. CoStar Group presently has a consensus rating of “Buy” and a consensus price target of $442.36.
CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, July 24th. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.31 by $0.35. The firm had revenue of $229.90 million for the quarter, compared to analyst estimates of $293.55 million. CoStar Group had a return on equity of 7.25% and a net margin of 16.27%. CoStar Group’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 EPS. analysts predict that CoStar Group Inc will post 6.98 earnings per share for the current fiscal year.
In related news, Director Michael R. Klein sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $420.69, for a total transaction of $6,310,350.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Matthew Linnington sold 4,384 shares of the business’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $411.93, for a total value of $1,805,901.12. The disclosure for this sale can be found here. Insiders have sold a total of 56,755 shares of company stock worth $23,901,460 over the last three months. 2.47% of the stock is currently owned by corporate insiders.
CoStar Group 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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