Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in shares of CoStar Group Inc (NASDAQ:CSGP) by 2.3% in the third quarter, HoldingsChannel.com reports. The firm owned 12,524 shares of the technology company’s stock after selling 300 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in CoStar Group were worth $5,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Nissay Asset Management Corp Japan ADV lifted its position 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 valued at $1,179,000 after purchasing an additional 125 shares during the period. Commonwealth Equity Services LLC raised its position in shares of CoStar Group by 4.6% in 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 raised its position in shares of CoStar Group by 6.4% in 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 raised its position in shares of CoStar Group by 14.3% in 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. raised its position in shares of CoStar Group by 0.4% in 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 subject of a number of analyst reports. BidaskClub downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Saturday, October 27th. Needham & Company LLC upped their price objective 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. Zacks Investment Research upgraded shares of CoStar Group from a “hold” rating to a “buy” rating and set a $471.00 price objective for the company in a research report on Monday, October 1st. Finally, ValuEngine downgraded shares of CoStar Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 31st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. CoStar Group presently has an average rating of “Buy” and a consensus target price of $451.44.
CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, October 23rd. The technology company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.08. The business had revenue of $305.53 million during the quarter, compared to analysts’ expectations of $305.99 million. CoStar Group had a net margin of 17.61% and a return on equity of 7.63%. The company’s quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.41 earnings per share. Sell-side analysts expect that CoStar Group Inc will post 7.13 EPS for the current year.
In other news, Director Christopher J. Nassetta sold 571 shares of the business’s stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $349.67, for a total transaction of $199,661.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.47% of the stock is owned by insiders.
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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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