TIAA CREF Investment Management LLC Lowers Position in CoStar Group, Inc. (CSGP)
TIAA CREF Investment Management LLC trimmed its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 5.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 107,032 shares of the technology company’s stock after selling 6,510 shares during the quarter. TIAA CREF Investment Management LLC owned 0.33% of CoStar Group worth $28,214,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Teachers Advisors LLC increased its stake in CoStar Group by 6.6% during the 2nd quarter. Teachers Advisors LLC now owns 33,085 shares of the technology company’s stock worth $8,721,000 after purchasing an additional 2,062 shares in the last quarter. Alliancebernstein L.P. increased its stake in CoStar Group by 6.1% during the 2nd quarter. Alliancebernstein L.P. now owns 488,584 shares of the technology company’s stock worth $128,791,000 after purchasing an additional 28,066 shares in the last quarter. Tredje AP fonden increased its stake in CoStar Group by 205.6% during the 2nd quarter. Tredje AP fonden now owns 3,270 shares of the technology company’s stock worth $862,000 after purchasing an additional 2,200 shares in the last quarter. Chatham Capital Group Inc. increased its stake in CoStar Group by 7.7% during the 2nd quarter. Chatham Capital Group Inc. now owns 5,895 shares of the technology company’s stock worth $1,554,000 after purchasing an additional 420 shares in the last quarter. Finally, Banque Pictet & Cie SA bought a new stake in CoStar Group during the 2nd quarter worth approximately $633,000. 99.84% of the stock is owned by institutional investors and hedge funds.
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A number of analysts recently issued reports on the company. Citigroup Inc. set a $320.00 target price on CoStar Group and gave the stock a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research raised 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. SunTrust Banks, Inc. reissued a “buy” rating and set a $310.00 target price on shares of CoStar Group in a research note on Wednesday, September 13th. B. Riley reissued a “buy” rating and set a $325.00 target price on shares of CoStar Group in a research note on Wednesday, July 19th. Finally, Stephens reissued an “overweight” rating and set a $275.00 target price (up from $260.00) on shares of CoStar Group in a research note on Monday, June 19th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. CoStar Group currently has an average rating of “Buy” and a consensus price target of $313.67.
CoStar Group, Inc. (CSGP) opened at 280.82 on Friday. The stock’s 50 day moving average is $280.46 and its 200 day moving average is $251.76. CoStar Group, Inc. has a 52 week low of $179.22 and a 52 week high of $287.96. The company has a market capitalization of $9.22 billion, a PE ratio of 94.27 and a beta of 1.52.
CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.23. CoStar Group had a return on equity of 7.19% and a net margin of 10.85%. The firm had revenue of $237.20 million for the quarter, compared to analyst estimates of $234.38 million. During the same period in the previous year, the firm earned $0.91 earnings per share. The company’s revenue was up 14.6% compared to the same quarter last year. Analysts predict that CoStar Group, Inc. will post $4.48 EPS for the current fiscal year.
In other CoStar Group news, VP Matthew Linnington sold 1,767 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $273.15, for a total value of $482,656.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael R. Klein sold 20,000 shares of the business’s stock in a transaction that occurred on 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.
CoStar Group Company Profile
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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