Skandinaviska Enskilda Banken AB publ Lowers Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Skandinaviska Enskilda Banken AB publ reduced its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 0.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,551 shares of the technology company’s stock after selling 260 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in CoStar Group were worth $6,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Farther Finance Advisors LLC increased its holdings in CoStar Group by 42.4% in the 1st quarter. Farther Finance Advisors LLC now owns 1,210 shares of the technology company’s stock valued at $96,000 after acquiring an additional 360 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new stake in shares of CoStar Group in the first quarter worth about $221,000. PFG Investments LLC purchased a new stake in shares of CoStar Group in the first quarter worth about $234,000. Golden State Wealth Management LLC lifted its position in shares of CoStar Group by 6.3% in the first quarter. Golden State Wealth Management LLC now owns 3,385 shares of the technology company’s stock worth $268,000 after buying an additional 200 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in CoStar Group during the first quarter valued at approximately $4,835,000. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Up 0.0%

Shares of NASDAQ:CSGP opened at $92.97 on Monday. The firm has a market capitalization of $39.39 billion, a PE ratio of 371.88, a price-to-earnings-growth ratio of 4.53 and a beta of 0.89. The business has a 50 day simple moving average of $80.76 and a two-hundred day simple moving average of $78.25. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $93.75. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.83 and a quick ratio of 5.83.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $781.30 million during the quarter, compared to analyst estimates of $772.06 million. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%. CoStar Group’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period last year, the company earned $0.15 EPS. On average, equities analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CSGP shares. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $70.00 price objective (up previously from $65.00) on shares of CoStar Group in a research note on Wednesday, July 16th. William Blair restated an “outperform” rating on shares of CoStar Group in a research report on Wednesday, July 23rd. Stephens upgraded shares of CoStar Group to a “strong-buy” rating and set a $105.00 price objective for the company in a research report on Monday, June 16th. JPMorgan Chase & Co. boosted their target price on shares of CoStar Group from $87.00 to $101.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Finally, Needham & Company LLC increased their price target on shares of CoStar Group from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $93.25.

CoStar Group Company 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.