California Public Employees Retirement System trimmed its position in shares of CoStar Group Inc (NASDAQ:CSGP) by 12.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 63,408 shares of the technology company’s stock after selling 8,691 shares during the quarter. California Public Employees Retirement System’s holdings in CoStar Group were worth $26,164,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Fort L.P. bought a new stake in CoStar Group during the 2nd quarter valued at approximately $122,000. Korea Investment CORP bought a new stake in CoStar Group during the 1st quarter valued at approximately $109,000. Signet Financial Management LLC bought a new stake in CoStar Group during the 2nd quarter valued at approximately $152,000. Ropes Wealth Advisors LLC bought a new stake in CoStar Group during the 2nd quarter valued at approximately $186,000. Finally, FineMark National Bank & Trust bought a new stake in CoStar Group during the 2nd quarter valued at approximately $205,000. 96.13% of the stock is currently owned by institutional investors and hedge funds.

In related news, CFO Scott T. Wheeler sold 4,700 shares of the business’s stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $426.02, for a total value of $2,002,294.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Francis Carchedi sold 32,671 shares of the business’s stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $421.87, for a total transaction of $13,782,914.77. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,755 shares of company stock valued at $23,901,460. 2.47% of the stock is owned by company insiders.

A number of analysts have recently commented on CSGP shares. BidaskClub cut CoStar Group from a “buy” rating to a “hold” rating in a research report on Saturday, September 8th. Needham & Company LLC boosted their price target on CoStar Group from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. B. Riley boosted their price target on CoStar Group from $400.00 to $460.00 and gave the stock a “buy” rating in a research report on Friday, July 20th. Zacks Investment Research cut CoStar Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 30th. Finally, SunTrust Banks boosted their price target on CoStar Group to $475.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $442.36.

Shares of CSGP opened at $417.71 on Friday. CoStar Group Inc has a 52 week low of $255.41 and a 52 week high of $448.35. The company has a market capitalization of $15.23 billion, a PE ratio of 108.90, a P/E/G ratio of 3.58 and a beta of 1.47.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, July 24th. The technology company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.35. CoStar Group had a return on equity of 7.25% and a net margin of 16.27%. The firm had revenue of $229.90 million for the quarter, compared to analysts’ expectations of $293.55 million. During the same period in the previous year, the firm posted $0.86 EPS. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. research analysts predict that CoStar Group Inc will post 6.98 earnings per share for the current year.

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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Institutional Ownership by Quarter for CoStar Group (NASDAQ:CSGP)

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