Principal Financial Group Inc. lessened its holdings in CoStar Group Inc (NASDAQ:CSGP) by 16.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,704 shares of the technology company’s stock after selling 1,138 shares during the quarter. Principal Financial Group Inc.’s holdings in CoStar Group were worth $1,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Gateway Investment Advisers LLC bought a new position in CoStar Group in the 4th quarter valued at $7,456,000. American Assets Capital Advisers LLC bought a new position in CoStar Group in the 4th quarter valued at $8,096,000. Cigna Investments Inc. New bought a new position in CoStar Group in the 4th quarter valued at $366,000. Cornerstone Advisors Inc. grew its stake in shares of CoStar Group by 20.5% during the 3rd quarter. Cornerstone Advisors Inc. now owns 206 shares of the technology company’s stock worth $87,000 after acquiring an additional 35 shares during the period. Finally, First Hawaiian Bank grew its stake in shares of CoStar Group by 28.0% during the 4th quarter. First Hawaiian Bank now owns 833 shares of the technology company’s stock worth $281,000 after acquiring an additional 182 shares during the period. Hedge funds and other institutional investors own 96.91% of the company’s stock.
In other CoStar Group news, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 65,419 shares of company stock valued at $31,001,252. 2.47% of the stock is owned by corporate insiders.
CSGP stock opened at $481.72 on Friday. The firm has a market cap of $17.52 billion, a PE ratio of 65.10, a PEG ratio of 3.23 and a beta of 1.46. CoStar Group Inc has a fifty-two week low of $315.85 and a fifty-two week high of $491.97.
CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, February 26th. The technology company reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.27. The company had revenue of $315.57 million during the quarter, compared to the consensus estimate of $310.19 million. CoStar Group had a return on equity of 9.30% and a net margin of 20.00%. The firm’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 EPS. On average, research analysts forecast that CoStar Group Inc will post 9.03 earnings per share for the current fiscal year.
Several research analysts have recently weighed in on the company. B. Riley increased their price target on CoStar Group from $460.00 to $512.00 and gave the stock a “buy” rating in a research note on Wednesday, February 27th. Bank of America reiterated a “buy” rating and set a $460.00 price target (up previously from $429.00) on shares of CoStar Group in a research note on Wednesday, February 27th. Wells Fargo & Co increased their price target on CoStar Group from $475.00 to $500.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 27th. SunTrust Banks increased their price target on CoStar Group to $460.00 and gave the stock a “positive” rating in a research note on Wednesday, February 27th. Finally, BidaskClub upgraded CoStar Group from a “hold” rating to a “buy” rating in a research note on Tuesday, February 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $457.22.
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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 offers inventory of office, industrial, retail, and multifamily properties and land.
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