Teachers Retirement System of The State of Kentucky cut its holdings in shares of CoStar Group (NASDAQ:CSGP) by 9.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,025 shares of the technology company’s stock after selling 1,423 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in CoStar Group were worth $4,164,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CSGP. California State Teachers Retirement System lifted its stake in shares of CoStar Group by 8.5% in the 4th quarter. California State Teachers Retirement System now owns 58,017 shares of the technology company’s stock valued at $17,228,000 after acquiring an additional 4,554 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of CoStar Group by 609.8% in the 4th quarter. Two Sigma Advisers LP now owns 12,804 shares of the technology company’s stock valued at $3,802,000 after acquiring an additional 11,000 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of CoStar Group by 43.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 308,180 shares of the technology company’s stock valued at $91,514,000 after acquiring an additional 92,864 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of CoStar Group by 47.2% in the 4th quarter. Deutsche Bank AG now owns 129,058 shares of the technology company’s stock valued at $38,320,000 after acquiring an additional 41,385 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of CoStar Group by 11.8% in the 4th quarter. Franklin Resources Inc. now owns 793,349 shares of the technology company’s stock valued at $235,579,000 after acquiring an additional 83,605 shares during the last quarter. Hedge funds and other institutional investors own 98.56% of the company’s stock.
In related news, VP Matthew Linnington sold 7,921 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $348.23, for a total value of $2,758,329.83. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Scott T. Wheeler sold 1,250 shares of CoStar Group stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $353.69, for a total transaction of $442,112.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,421 shares of company stock valued at $9,009,433. 3.09% of the stock is currently owned by company insiders.
CoStar Group stock traded down $4.01 during trading hours on Friday, reaching $351.28. 108,736 shares of the company’s stock were exchanged, compared to its average volume of 235,862. The company has a market cap of $12,679.45, a P/E ratio of 90.77, a PEG ratio of 3.35 and a beta of 1.52. CoStar Group has a twelve month low of $201.43 and a twelve month high of $378.57.
CoStar Group (NASDAQ:CSGP) last issued its earnings results on Wednesday, February 21st. The technology company reported $1.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.01. The company had revenue of $253.99 million during the quarter, compared to the consensus estimate of $253.74 million. CoStar Group had a return on equity of 6.75% and a net margin of 12.71%. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period last year, the business posted $1.29 EPS. analysts forecast that CoStar Group will post 6.25 earnings per share for the current fiscal year.
A number of research analysts have recently commented on the company. Zacks Investment Research cut CoStar Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. BidaskClub downgraded CoStar Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 27th. Needham & Company LLC increased their price objective on CoStar Group to $430.00 and gave the company a “positive” rating in a report on Friday, February 23rd. SunTrust Banks increased their price objective on CoStar Group to $410.00 and gave the company a “buy” rating in a report on Monday, February 5th. Finally, JPMorgan Chase downgraded CoStar Group from an “overweight” rating to an “underweight” rating and set a $325.00 price objective for the company. in a report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $380.10.
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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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