First Mercantile Trust Co. lessened its stake in shares of CoStar Group Inc (NASDAQ:CSGP) by 5.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 950 shares of the technology company’s stock after selling 50 shares during the quarter. First Mercantile Trust Co.’s holdings in CoStar Group were worth $564,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of CSGP. BlackRock Inc. increased its position in CoStar Group by 14.4% during the 2nd quarter. BlackRock Inc. now owns 3,531,271 shares of the technology company’s stock worth $1,956,536,000 after purchasing an additional 445,078 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in CoStar Group during the 2nd quarter worth about $146,377,000. JPMorgan Chase & Co. increased its position in CoStar Group by 42.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 828,447 shares of the technology company’s stock worth $449,788,000 after purchasing an additional 246,705 shares in the last quarter. AQR Capital Management LLC increased its position in CoStar Group by 280.9% during the 2nd quarter. AQR Capital Management LLC now owns 116,427 shares of the technology company’s stock worth $64,508,000 after purchasing an additional 85,860 shares in the last quarter. Finally, Baillie Gifford & Co. increased its position in CoStar Group by 21.7% during the 2nd quarter. Baillie Gifford & Co. now owns 395,328 shares of the technology company’s stock worth $219,035,000 after purchasing an additional 70,439 shares in the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

CSGP traded up $0.86 during midday trading on Friday, hitting $546.70. The company’s stock had a trading volume of 1,274 shares, compared to its average volume of 370,310. The firm has a market cap of $20.32 billion, a P/E ratio of 74.00, a PEG ratio of 4.16 and a beta of 1.34. The firm has a 50-day moving average price of $579.79 and a two-hundred day moving average price of $566.37. CoStar Group Inc has a 52-week low of $315.85 and a 52-week high of $639.41.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, October 22nd. The technology company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.52 by $0.09. The company had revenue of $352.81 million during the quarter, compared to analysts’ expectations of $353.16 million. CoStar Group had a return on equity of 10.55% and a net margin of 23.17%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.16 EPS. On average, sell-side analysts forecast that CoStar Group Inc will post 8.89 earnings per share for the current fiscal year.

A number of analysts recently commented on the company. B. Riley lifted their price objective on CoStar Group from $610.00 to $640.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. SunTrust Banks lifted their price objective on CoStar Group to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Citigroup lifted their price objective on CoStar Group from $575.00 to $680.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. BidaskClub cut CoStar Group from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Finally, ValuEngine cut CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday. Four equities research analysts have rated the stock with a sell rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $631.30.

In other CoStar Group news, Director Christopher J. Nassetta sold 406 shares of CoStar Group stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $570.99, for a total value of $231,821.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.14% of the stock is owned by insiders.

CoStar Group Profile

CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.

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

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