State Board of Administration of Florida Retirement System Increases Stake in CoStar Group, Inc. (CSGP)
State Board of Administration of Florida Retirement System boosted its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,705 shares of the technology company’s stock after buying an additional 1,354 shares during the period. State Board of Administration of Florida Retirement System owned about 0.14% of CoStar Group worth $11,784,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in CoStar Group during the first quarter valued at about $124,000. Penserra Capital Management LLC increased its position in CoStar Group by 9.5% in the first quarter. Penserra Capital Management LLC now owns 736 shares of the technology company’s stock valued at $152,000 after buying an additional 64 shares during the period. Daiwa Securities Group Inc. increased its position in CoStar Group by 500.0% in the first quarter. Daiwa Securities Group Inc. now owns 900 shares of the technology company’s stock valued at $186,000 after buying an additional 750 shares during the period. LS Investment Advisors LLC increased its position 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 during the period. Finally, Capstone Asset Management Co. purchased a new position in CoStar Group during the second quarter valued at about $211,000. 99.87% of the stock is owned by institutional investors and hedge funds.
Shares of CoStar Group, Inc. (NASDAQ CSGP) opened at 282.46 on Wednesday. The firm has a 50-day moving average price of $277.81 and a 200 day moving average price of $242.49. The stock has a market cap of $9.27 billion, a PE ratio of 94.82 and a beta of 1.51. CoStar Group, Inc. has a 12-month low of $179.21 and a 12-month high of $287.85.
CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data 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 return on equity of 7.19% and a net margin of 10.85%. The business had revenue of $237.20 million during the quarter, compared to analysts’ expectations of $234.38 million. During the same period in the previous year, the firm earned $0.91 earnings per share. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. Equities research analysts predict that CoStar Group, Inc. will post $4.49 EPS for the current fiscal year.
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Several research analysts have recently issued reports on the company. Citigroup Inc. set a $320.00 price target on CoStar Group and gave the stock a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research raised shares of CoStar Group from a “hold” rating to a “buy” rating and set a $293.00 target price for the company in a research note on Thursday, June 1st. B. Riley reissued a “buy” rating and issued a $325.00 target price on shares of CoStar Group in a research note on Wednesday, July 19th. Finally, SunTrust Banks, Inc. boosted their target price on shares of CoStar Group from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 5th. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $313.67.
In other CoStar Group news, VP Matthew Linnington sold 1,767 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $273.15, for a total value of $482,656.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael R. Klein sold 20,000 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $265.01, for a total value of $5,300,200.00. The disclosure for this sale can be found here. 2.98% of the stock is currently owned by insiders.
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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