Voya Investment Management LLC trimmed its holdings in CoStar Group Inc (NASDAQ:CSGP) by 55.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 11,259 shares of the technology company’s stock after selling 13,848 shares during the quarter. Voya Investment Management LLC’s holdings in CoStar Group were worth $4,646,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CSGP. BlackRock Inc. grew its position in CoStar Group by 9.8% in the second quarter. BlackRock Inc. now owns 2,820,677 shares of the technology company’s stock worth $1,163,897,000 after acquiring an additional 252,916 shares in the last quarter. American Century Companies Inc. bought a new stake in CoStar Group in the second quarter worth approximately $88,290,000. Bank of New York Mellon Corp grew its position in CoStar Group by 49.9% in the second quarter. Bank of New York Mellon Corp now owns 442,556 shares of the technology company’s stock worth $182,611,000 after acquiring an additional 147,283 shares in the last quarter. Summit Trail Advisors LLC grew its position in CoStar Group by 21,110.0% in the first quarter. Summit Trail Advisors LLC now owns 105,838 shares of the technology company’s stock worth $106,000 after acquiring an additional 105,339 shares in the last quarter. Finally, Legal & General Group Plc grew its position in CoStar Group by 235.0% in the first quarter. Legal & General Group Plc now owns 139,368 shares of the technology company’s stock worth $50,546,000 after acquiring an additional 97,770 shares in the last quarter. 96.13% of the stock is owned by institutional investors.

NASDAQ CSGP opened at $419.70 on Thursday. The firm has a market cap of $15.23 billion, a P/E ratio of 81.41, a PEG ratio of 3.58 and a beta of 1.47. CoStar Group Inc has a 1 year low of $255.41 and a 1 year high of $448.35.

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

Several analysts have commented on the stock. Needham & Company LLC boosted their target price on shares of CoStar Group from $475.00 to $500.00 and gave the stock a “buy” rating in a research report on Wednesday, September 12th. BidaskClub downgraded shares of CoStar Group from a “buy” rating to a “hold” rating in a research report on Saturday, September 8th. Zacks Investment Research downgraded shares of CoStar Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 30th. Bank of America boosted their target price on shares of CoStar Group from $420.00 to $470.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Finally, SunTrust Banks boosted their target price on shares of CoStar Group to $475.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. One research 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. CoStar Group presently has an average rating of “Buy” and a consensus target price of $442.36.

In related news, VP Matthew Linnington sold 4,384 shares of the company’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $411.93, for a total transaction of $1,805,901.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Francis Carchedi sold 32,671 shares of the company’s stock in a transaction 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 ninety days, insiders have sold 56,755 shares of company stock valued at $23,901,460. 2.47% of the stock is owned by insiders.

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.

Further Reading: Intrinsic Value

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

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