CoStar Group, Inc. (CSGP) Stake Held by Capital World Investors
Capital World Investors continued to hold its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,000 shares of the technology company’s stock at the end of the second quarter. Capital World Investors owned 0.30% of CoStar Group worth $26,360,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CSGP. Robeco Institutional Asset Management B.V. purchased a new position in CoStar Group in the second quarter valued at about $134,000. LS Investment Advisors LLC increased its holdings in CoStar Group by 3.5% in the second quarter. LS Investment Advisors LLC now owns 706 shares of the technology company’s stock valued at $186,000 after buying an additional 24 shares in the last quarter. Capstone Asset Management Co. purchased a new position in CoStar Group in the second quarter valued at about $211,000. Penserra Capital Management LLC increased its holdings in CoStar Group by 13.0% in the second quarter. Penserra Capital Management LLC now owns 832 shares of the technology company’s stock valued at $219,000 after buying an additional 96 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in CoStar Group in the second quarter valued at about $223,000. 91.76% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Matthew Linnington sold 1,767 shares of the business’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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.98% of the stock is owned by insiders.
CoStar Group, Inc. (NASDAQ:CSGP) opened at 276.91 on Monday. The stock has a market capitalization of $9.09 billion, a PE ratio of 92.95 and a beta of 1.52. CoStar Group, Inc. has a one year low of $179.21 and a one year high of $287.96. The firm has a 50-day moving average of $278.45 and a 200-day moving average of $257.40.
CoStar Group (NASDAQ:CSGP) last released its earnings results on Wednesday, July 26th. The technology company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.23. CoStar Group had a net margin of 10.85% and a return on equity of 7.19%. The business had revenue of $237.20 million for the quarter, compared to the consensus estimate of $234.38 million. During the same period in the previous year, the firm earned $0.91 EPS. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, equities research analysts forecast that CoStar Group, Inc. will post $4.44 earnings per share for the current year.
A number of research analysts have issued reports on CSGP shares. BidaskClub cut shares of CoStar Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Needham & Company LLC increased their target price on shares of CoStar Group from $275.00 to $300.00 and gave the company a “buy” rating in a report on Friday, July 28th. Zacks Investment Research cut shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. B. Riley reaffirmed a “buy” rating and issued a $335.00 target price on shares of CoStar Group in a report on Friday, July 28th. Finally, Stephens reaffirmed an “overweight” rating and issued a $275.00 target price (up from $260.00) on shares of CoStar Group in a report on Monday, June 19th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $312.57.
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About CoStar Group
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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