California Public Employees Retirement System Sells 26,110 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

California Public Employees Retirement System reduced its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 3.4% during the second quarter, HoldingsChannel reports. The firm owned 748,919 shares of the technology company’s stock after selling 26,110 shares during the period. California Public Employees Retirement System’s holdings in CoStar Group were worth $66,654,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Quarry LP raised its stake in shares of CoStar Group by 75.5% during the first quarter. Quarry LP now owns 358 shares of the technology company’s stock worth $25,000 after acquiring an additional 154 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of CoStar Group during the first quarter worth approximately $27,000. Global Retirement Partners LLC raised its stake in shares of CoStar Group by 355.6% during the first quarter. Global Retirement Partners LLC now owns 410 shares of the technology company’s stock worth $30,000 after acquiring an additional 320 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new position in shares of CoStar Group during the fourth quarter worth approximately $30,000. Finally, Connectus Wealth LLC grew its holdings in shares of CoStar Group by 4.0% in the first quarter. Connectus Wealth LLC now owns 54,022 shares of the technology company’s stock worth $37,000 after purchasing an additional 2,059 shares during the last quarter. 96.53% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $82.74 on Wednesday. The stock has a market cap of $33.79 billion, a price-to-earnings ratio of 83.58, a PEG ratio of 3.73 and a beta of 0.87. The firm’s 50-day moving average is $77.92 and its 200 day moving average is $80.76. CoStar Group, Inc. has a 1 year low of $65.12 and a 1 year high of $92.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 13.31 and a quick ratio of 13.31.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, October 24th. The technology company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $624.67 million for the quarter, compared to the consensus estimate of $625.65 million. CoStar Group had a net margin of 16.86% and a return on equity of 6.49%. Sell-side analysts anticipate that CoStar Group, Inc. will post 1.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of CoStar Group in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Robert W. Baird cut their target price on shares of CoStar Group from $100.00 to $98.00 in a report on Wednesday, July 26th. BMO Capital Markets cut their price target on shares of CoStar Group from $80.00 to $74.00 and set a “market perform” rating on the stock in a report on Thursday, October 26th. JMP Securities cut their price target on shares of CoStar Group from $100.00 to $90.00 and set a “market outperform” rating on the stock in a report on Wednesday, October 25th. Finally, Bank of America cut their price target on shares of CoStar Group from $104.00 to $101.00 in a report on Wednesday, July 26th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $90.09.

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. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, 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.