Royal London Asset Management Ltd. lessened its stake in CoStar Group Inc (NASDAQ:CSGP) by 3.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,351 shares of the technology company’s stock after selling 527 shares during the quarter. Royal London Asset Management Ltd.’s holdings in CoStar Group were worth $6,043,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Nissay Asset Management Corp Japan ADV lifted its holdings in CoStar Group by 4.6% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 2,857 shares of the technology company’s stock worth $1,179,000 after acquiring an additional 125 shares during the period. Commonwealth Equity Services LLC lifted its holdings in CoStar Group by 4.6% during the third quarter. Commonwealth Equity Services LLC now owns 3,312 shares of the technology company’s stock worth $1,393,000 after acquiring an additional 145 shares during the period. Metropolitan Life Insurance Co. NY lifted its holdings in CoStar Group by 6.4% during the second quarter. Metropolitan Life Insurance Co. NY now owns 2,819 shares of the technology company’s stock worth $1,163,000 after acquiring an additional 169 shares during the period. CIBC Asset Management Inc lifted its holdings in CoStar Group by 14.3% during the second quarter. CIBC Asset Management Inc now owns 1,467 shares of the technology company’s stock worth $605,000 after acquiring an additional 184 shares during the period. Finally, American Capital Management Inc. lifted its holdings in CoStar Group by 0.4% during the third quarter. American Capital Management Inc. now owns 48,432 shares of the technology company’s stock worth $20,382,000 after acquiring an additional 194 shares during the period. Institutional investors own 96.29% of the company’s stock.
CSGP has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded CoStar Group from a “hold” rating to a “buy” rating and set a $401.00 price target on the stock in a report on Friday, October 26th. BidaskClub lowered CoStar Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Needham & Company LLC lifted their price target on CoStar Group from $475.00 to $500.00 and gave the stock a “buy” rating in a report on Wednesday, September 12th. Finally, ValuEngine lowered CoStar Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $451.44.
NASDAQ:CSGP opened at $359.00 on Friday. CoStar Group Inc has a 1 year low of $283.11 and a 1 year high of $448.35. The firm has a market capitalization of $13.07 billion, a price-to-earnings ratio of 92.76, a PEG ratio of 3.01 and a beta of 1.52.
CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, October 23rd. The technology company reported $2.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.08 by $0.08. CoStar Group had a return on equity of 7.63% and a net margin of 17.61%. The business had revenue of $305.53 million during the quarter, compared to the consensus estimate of $305.99 million. During the same period last year, the business posted $1.41 earnings per share. The business’s revenue for the quarter was up 23.4% on a year-over-year basis. As a group, equities analysts predict that CoStar Group Inc will post 7.13 EPS for the current fiscal year.
About CoStar Group
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.
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