Prudential Financial Inc. boosted its holdings in CoStar Group Inc (NASDAQ:CSGP) by 38.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,978 shares of the technology company’s stock after acquiring an additional 830 shares during the period. Prudential Financial Inc.’s holdings in CoStar Group were worth $1,650,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of CSGP. JPMorgan Chase & Co. raised its holdings in shares of CoStar Group by 42.4% during the second quarter. JPMorgan Chase & Co. now owns 828,447 shares of the technology company’s stock valued at $449,788,000 after buying an additional 246,705 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of CoStar Group by 95.9% during the first quarter. CIBC Private Wealth Group LLC now owns 180,334 shares of the technology company’s stock valued at $84,111,000 after buying an additional 88,258 shares during the last quarter. Baillie Gifford & Co. raised its holdings in CoStar Group by 21.7% during the second quarter. Baillie Gifford & Co. now owns 395,328 shares of the technology company’s stock worth $219,035,000 after purchasing an additional 70,439 shares in the last quarter. FMR LLC raised its holdings in CoStar Group by 27.9% during the first quarter. FMR LLC now owns 311,860 shares of the technology company’s stock worth $145,458,000 after purchasing an additional 68,023 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in CoStar Group by 407.4% during the second quarter. First Trust Advisors LP now owns 44,828 shares of the technology company’s stock worth $24,837,000 after purchasing an additional 35,994 shares in the last quarter. 95.71% of the stock is currently owned by hedge funds and other institutional investors.
CoStar Group stock traded up $0.55 during mid-day trading on Thursday, hitting $591.64. The company’s stock had a trading volume of 1,342 shares, compared to its average volume of 232,895. The stock has a market capitalization of $21.18 billion, a P/E ratio of 79.93, a P/E/G ratio of 4.28 and a beta of 1.34. CoStar Group Inc has a twelve month low of $315.85 and a twelve month high of $639.41. The stock’s fifty day moving average price is $607.78 and its two-hundred day moving average price is $539.50.
CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, July 23rd. The technology company reported $1.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.22. The firm had revenue of $343.76 million for the quarter, compared to analyst estimates of $336.71 million. CoStar Group had a net margin of 22.48% and a return on equity of 10.42%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.05 earnings per share. As a group, analysts anticipate that CoStar Group Inc will post 9.02 earnings per share for the current year.
CSGP has been the topic of several recent analyst reports. Zacks Investment Research cut CoStar Group from a “buy” rating to a “hold” rating in a report on Monday, June 24th. JPMorgan Chase & Co. boosted their target price on CoStar Group from $425.00 to $597.00 and gave the stock an “underweight” rating in a report on Wednesday, July 24th. Needham & Company LLC boosted their target price on CoStar Group to $675.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods initiated coverage on CoStar Group in a report on Tuesday, July 9th. They set an “outperform” rating and a $650.00 target price on the stock. Finally, JMP Securities boosted their target price on CoStar Group from $525.00 to $630.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $621.60.
In other CoStar Group news, VP Matthew Linnington sold 14,651 shares of CoStar Group stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.39, for a total value of $9,045,380.89. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John W. Hill sold 315 shares of CoStar Group stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $553.23, for a total transaction of $174,267.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,109 shares of company stock worth $28,803,346. 2.14% of the stock is currently owned by company insiders.
CoStar Group 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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