Cambridge Investment Research Advisors Inc. lessened its holdings in shares of CoStar Group Inc (NASDAQ:CSGP) by 66.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 3,948 shares of the technology company’s stock after selling 7,837 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in CoStar Group were worth $2,806,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Creative Financial Designs Inc. ADV bought a new position in shares of CoStar Group in the 2nd quarter worth $39,000. Balentine LLC acquired a new position in CoStar Group in the first quarter valued at about $42,000. Rockefeller Capital Management L.P. lifted its stake in CoStar Group by 100.0% in the first quarter. Rockefeller Capital Management L.P. now owns 74 shares of the technology company’s stock valued at $43,000 after buying an additional 37 shares during the period. Valeo Financial Advisors LLC boosted its holdings in CoStar Group by 117.1% during the second quarter. Valeo Financial Advisors LLC now owns 89 shares of the technology company’s stock worth $63,000 after buying an additional 48 shares during the last quarter. Finally, Citizens Financial Group Inc RI grew its position in shares of CoStar Group by 405.6% during the 1st quarter. Citizens Financial Group Inc RI now owns 91 shares of the technology company’s stock worth $53,000 after buying an additional 73 shares during the period. Institutional investors own 89.13% of the company’s stock.
NASDAQ:CSGP opened at $849.76 on Friday. The stock has a 50-day simple moving average of $708.87 and a 200 day simple moving average of $661.58. CoStar Group Inc has a 52-week low of $500.24 and a 52-week high of $939.00. The company has a market cap of $33.45 billion, a PE ratio of 92.67 and a beta of 1.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 8.75 and a current ratio of 14.01.
CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, July 28th. The technology company reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.34. CoStar Group had a return on equity of 8.81% and a net margin of 19.76%. The firm had revenue of $392.00 million during the quarter, compared to the consensus estimate of $390.18 million. During the same quarter in the prior year, the firm posted $2.23 EPS. The business’s revenue was up 14.0% on a year-over-year basis. On average, research analysts predict that CoStar Group Inc will post 8.26 earnings per share for the current fiscal year.
CSGP has been the topic of several recent analyst reports. Wells Fargo & Co lifted their price objective on shares of CoStar Group from $755.00 to $800.00 and gave the stock an “overweight” rating in a research note on Monday, June 8th. Zacks Investment Research raised shares of CoStar Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 1st. Citigroup upped their price objective on shares of CoStar Group from $700.00 to $815.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Bank of America began coverage on CoStar Group in a report on Wednesday, July 8th. They set a “buy” rating and a $850.00 target price on the stock. Finally, B. Riley increased their price target on CoStar Group from $730.00 to $810.00 in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. CoStar Group presently has an average rating of “Buy” and a consensus price target of $791.08.
About CoStar Group
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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