Principal Financial Group Inc. Cuts Position in CoStar Group, Inc. (NASDAQ:CSGP)

Principal Financial Group Inc. reduced its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,007,873 shares of the technology company’s stock after selling 178,402 shares during the quarter. CoStar Group accounts for approximately 0.8% of Principal Financial Group Inc.’s portfolio, making the stock its 22nd largest holding. Principal Financial Group Inc. owned 4.63% of CoStar Group worth $1,505,994,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CSGP. Hopwood Financial Services Inc. acquired a new stake in shares of CoStar Group in the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new stake in CoStar Group during the 4th quarter worth about $30,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in CoStar Group by 414.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock valued at $36,000 after purchasing an additional 402 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of CoStar Group by 969.5% during the fourth quarter. Private Trust Co. NA now owns 631 shares of the technology company’s stock worth $45,000 after buying an additional 572 shares in the last quarter. Finally, Colonial Trust Co SC boosted its position in CoStar Group by 27.4% during the fourth quarter. Colonial Trust Co SC now owns 674 shares of the technology company’s stock worth $48,000 after acquiring an additional 145 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Price Performance

Shares of CSGP opened at $81.42 on Thursday. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $83.68. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.12. The firm has a market cap of $34.35 billion, a price-to-earnings ratio of 280.76, a PEG ratio of 4.13 and a beta of 0.89. The stock has a 50 day moving average of $77.95 and a 200-day moving average of $76.56.

Analyst Ratings Changes

Several research firms have recently issued reports on CSGP. Wells Fargo & Company raised their price objective on CoStar Group from $63.00 to $65.00 and gave the stock an “underweight” rating in a report on Wednesday, April 30th. Keefe, Bruyette & Woods increased their target price on CoStar Group from $93.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. JMP Securities restated a “market outperform” rating and issued a $85.00 price target on shares of CoStar Group in a report on Wednesday, April 30th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a research note on Tuesday, June 24th. Finally, Needham & Company LLC raised their target price on shares of CoStar Group from $87.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $87.69.

CoStar Group Profile

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.