Oregon Public Employees Retirement Fund lessened its stake in shares of CoStar Group Inc (NASDAQ:CSGP) by 94.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 343 shares of the technology company’s stock after selling 5,862 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in CoStar Group were worth $116,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. grew its holdings in CoStar Group by 27.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 13,897 shares of the technology company’s stock valued at $5,849,000 after purchasing an additional 3,017 shares during the last quarter. Private Advisor Group LLC acquired a new stake in CoStar Group in the third quarter valued at $388,000. Comerica Bank grew its holdings in CoStar Group by 134.6% in the third quarter. Comerica Bank now owns 4,553 shares of the technology company’s stock valued at $1,743,000 after purchasing an additional 2,612 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in CoStar Group by 16.8% in the third quarter. Janney Montgomery Scott LLC now owns 1,729 shares of the technology company’s stock valued at $728,000 after purchasing an additional 249 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in CoStar Group by 4.6% in the third quarter. Commonwealth Equity Services LLC now owns 3,312 shares of the technology company’s stock valued at $1,393,000 after purchasing an additional 145 shares during the last quarter. Institutional investors and hedge funds own 95.86% of the company’s stock.
A number of research firms recently commented on CSGP. SunTrust Banks increased their price objective on CoStar Group to $460.00 and gave the company a “positive” rating in a research note on Wednesday, February 27th. Wells Fargo & Co increased their price objective on CoStar Group from $475.00 to $500.00 and gave the company an “outperform” rating in a research note on Wednesday, February 27th. ValuEngine raised CoStar Group from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. B. Riley increased their price objective on CoStar Group from $460.00 to $512.00 and gave the company a “buy” rating in a research note on Wednesday, February 27th. Finally, Bank of America reaffirmed a “buy” rating and set a $460.00 price objective (up previously from $429.00) on shares of CoStar Group in a research note on Wednesday, February 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $457.22.
Shares of NASDAQ:CSGP opened at $468.13 on Tuesday. CoStar Group Inc has a 12-month low of $315.85 and a 12-month high of $484.92. The stock has a market capitalization of $17.10 billion, a price-to-earnings ratio of 63.26, a price-to-earnings-growth ratio of 3.10 and a beta of 1.46.
CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 26th. The technology company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.28. CoStar Group had a return on equity of 9.30% and a net margin of 20.00%. The firm had revenue of $315.57 million for the quarter, compared to analyst estimates of $310.19 million. During the same period last year, the company earned $1.25 EPS. The firm’s quarterly revenue was up 24.2% on a year-over-year basis. Equities analysts predict that CoStar Group Inc will post 9.03 earnings per share for the current year.
In other news, CFO Scott T. Wheeler sold 5,396 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $476.11, for a total value of $2,569,089.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Andrew C. Florance sold 55,322 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $473.38, for a total value of $26,188,328.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,461 shares of company stock worth $31,346,029. 2.47% of the stock is owned by corporate insiders.
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CoStar Group Company Profile
CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that provides inventory of office, industrial, retail, and multifamily properties and land.
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