Citigroup Inc. trimmed its holdings in CoStar Group, Inc. (NASDAQ:CSGP – Free Report) by 11.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 475,417 shares of the technology company’s stock after selling 61,753 shares during the quarter. Citigroup Inc.’s holdings in CoStar Group were worth $42,312,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Quarry LP lifted its stake in CoStar Group by 75.5% in the 1st quarter. Quarry LP now owns 358 shares of the technology company’s stock worth $25,000 after purchasing an additional 154 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of CoStar Group during the 1st quarter valued at approximately $27,000. Global Retirement Partners LLC raised its position in shares of CoStar Group by 355.6% during the 1st quarter. Global Retirement Partners LLC now owns 410 shares of the technology company’s stock valued at $30,000 after buying an additional 320 shares during the period. Resurgent Financial Advisors LLC purchased a new stake in shares of CoStar Group during the 4th quarter valued at approximately $30,000. Finally, Connectus Wealth LLC raised its position in shares of CoStar Group by 4.0% during the 1st quarter. Connectus Wealth LLC now owns 54,022 shares of the technology company’s stock valued at $37,000 after buying an additional 2,059 shares during the period. 96.53% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
CSGP has been the topic of several analyst reports. StockNews.com initiated coverage on shares of CoStar Group in a research report on Thursday, October 5th. They set a “hold” rating on the stock. JMP Securities reduced 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 research report on Wednesday, October 25th. Robert W. Baird reduced their price target on shares of CoStar Group from $100.00 to $98.00 in a research report on Wednesday, July 26th. TheStreet lowered shares of CoStar Group from a “b” rating to a “c+” rating in a research report on Thursday, September 7th. Finally, Bank of America dropped their target price on shares of CoStar Group from $104.00 to $101.00 in a report on Wednesday, July 26th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, CoStar Group has an average rating of “Moderate Buy” and an average target price of $90.09.
CoStar Group Stock Up 0.6 %
CoStar Group stock opened at $82.73 on Friday. The firm has a 50 day moving average price of $77.88 and a 200 day moving average price of $80.83. The company has a market capitalization of $33.78 billion, a PE ratio of 83.57, a price-to-earnings-growth ratio of 3.91 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.31 and a current ratio of 13.31. CoStar Group, Inc. has a fifty-two week low of $65.12 and a fifty-two week high of $92.36.
CoStar Group (NASDAQ:CSGP – Get Free Report) last posted its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $624.67 million during the quarter, compared to analyst estimates of $625.65 million. CoStar Group had a return on equity of 6.49% and a net margin of 16.86%. Research analysts expect that CoStar Group, Inc. will post 1.05 earnings per share for the current year.
About CoStar Group
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.
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