abrdn plc cut its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP – Get Rating) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,544 shares of the technology company’s stock after selling 861 shares during the period. abrdn plc’s holdings in CoStar Group were worth $2,213,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the stock. Allworth Financial LP lifted its position in shares of CoStar Group by 16,125.0% in the first quarter. Allworth Financial LP now owns 649 shares of the technology company’s stock valued at $43,000 after buying an additional 645 shares during the last quarter. Confluence Wealth Services Inc. acquired a new stake in shares of CoStar Group in the fourth quarter valued at approximately $53,000. CWM LLC lifted its position in shares of CoStar Group by 15.1% in the first quarter. CWM LLC now owns 1,230 shares of the technology company’s stock valued at $82,000 after buying an additional 161 shares during the last quarter. Sugarloaf Wealth Management LLC lifted its position in shares of CoStar Group by 28.9% in the first quarter. Sugarloaf Wealth Management LLC now owns 1,253 shares of the technology company’s stock valued at $83,000 after buying an additional 281 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of CoStar Group in the fourth quarter valued at approximately $86,000. 94.52% of the stock is owned by institutional investors and hedge funds.
In other news, Director John W. Hill sold 1,750 shares of CoStar Group stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $57.07, for a total value of $99,872.50. Following the transaction, the director now owns 21,998 shares in the company, valued at approximately $1,255,425.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.36% of the company’s stock.
CoStar Group Price Performance
CoStar Group (NASDAQ:CSGP – Get Rating) last posted its quarterly earnings data on Tuesday, July 26th. The technology company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.11. CoStar Group had a return on equity of 7.31% and a net margin of 16.03%. During the same quarter last year, the firm posted $0.22 EPS. As a group, research analysts expect that CoStar Group, Inc. will post 0.97 EPS for the current fiscal year.
Analysts Set New Price Targets
CSGP has been the subject of a number of recent analyst reports. Citigroup raised their price objective on CoStar Group from $65.00 to $70.00 in a research report on Wednesday, April 27th. Royal Bank of Canada lifted their price target on CoStar Group from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, April 11th. Truist Financial lifted their price target on CoStar Group to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Finally, Needham & Company LLC lifted their price target on CoStar Group from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.88.
CoStar Group Company Profile
CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. It offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar COMPS, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.
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