Personal CFO Solutions LLC acquired a new position in CoStar Group, Inc. (NASDAQ:CSGP – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,784 shares of the technology company’s stock, valued at approximately $248,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in CoStar Group by 0.6% in the first quarter. Vanguard Group Inc. now owns 34,757,886 shares of the technology company’s stock valued at $2,315,223,000 after acquiring an additional 204,955 shares during the last quarter. BlackRock Inc. increased its stake in CoStar Group by 0.9% in the first quarter. BlackRock Inc. now owns 31,917,467 shares of the technology company’s stock valued at $2,197,518,000 after acquiring an additional 286,782 shares during the last quarter. Geode Capital Management LLC increased its stake in CoStar Group by 5.4% in the first quarter. Geode Capital Management LLC now owns 9,814,024 shares of the technology company’s stock valued at $674,381,000 after acquiring an additional 500,775 shares during the last quarter. Macquarie Group Ltd. increased its stake in CoStar Group by 9.7% in the first quarter. Macquarie Group Ltd. now owns 8,698,812 shares of the technology company’s stock valued at $598,913,000 after acquiring an additional 770,204 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in CoStar Group by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 5,310,004 shares of the technology company’s stock valued at $472,590,000 after acquiring an additional 97,153 shares during the last quarter. Hedge funds and other institutional investors own 96.53% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the company. StockNews.com assumed coverage on CoStar Group in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Truist Financial reduced their price objective on CoStar Group from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, October 25th. TheStreet cut CoStar Group from a “b” rating to a “c+” rating in a research note on Thursday, September 7th. Citigroup reduced their price objective on CoStar Group from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. Finally, Needham & Company LLC cut their target price on CoStar Group from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.09.
CoStar Group Stock Performance
Shares of CSGP opened at $83.00 on Tuesday. 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, Inc. has a one year low of $65.12 and a one year high of $92.36. The company has a 50-day simple moving average of $77.89 and a two-hundred day simple moving average of $80.98. The firm has a market capitalization of $33.89 billion, a PE ratio of 83.84, a price-to-earnings-growth ratio of 3.91 and a beta of 0.87.
CoStar Group (NASDAQ:CSGP – Get Free Report) last released 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). CoStar Group had a net margin of 16.86% and a return on equity of 6.49%. The business had revenue of $624.67 million for the quarter, compared to analysts’ expectations of $625.65 million. On average, analysts anticipate that CoStar Group, Inc. will post 1.05 EPS for the current fiscal 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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