Sumitomo Life Insurance Co. Has $2.09 Million Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Sumitomo Life Insurance Co. trimmed its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,871 shares of the technology company’s stock after selling 943 shares during the period. Sumitomo Life Insurance Co.’s holdings in CoStar Group were worth $2,086,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its holdings in shares of CoStar Group by 111.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 15,683 shares of the technology company’s stock worth $1,045,000 after purchasing an additional 8,253 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in CoStar Group by 504.5% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,874 shares of the technology company’s stock valued at $125,000 after buying an additional 1,564 shares in the last quarter. MetLife Investment Management LLC bought a new stake in CoStar Group during the first quarter worth about $1,427,000. Panagora Asset Management Inc. increased its holdings in shares of CoStar Group by 10.6% during the first quarter. Panagora Asset Management Inc. now owns 12,007 shares of the technology company’s stock worth $800,000 after buying an additional 1,152 shares in the last quarter. Finally, Raymond James Trust N.A. increased its holdings in shares of CoStar Group by 32.3% during the first quarter. Raymond James Trust N.A. now owns 5,884 shares of the technology company’s stock worth $392,000 after buying an additional 1,435 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSGP has been the topic of several recent analyst reports. Robert W. Baird boosted their target price on CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. Keefe, Bruyette & Woods boosted their price objective on CoStar Group from $96.00 to $109.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. BMO Capital Markets lowered their target price on CoStar Group from $84.00 to $79.00 and set a “market perform” rating for the company in a research note on Thursday, February 22nd. BTIG Research began coverage on CoStar Group in a report on Friday, January 19th. They issued a “neutral” rating for the company. Finally, Bank of America increased their price objective on shares of CoStar Group from $97.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $100.08.

CoStar Group Trading Down 2.6 %

CSGP opened at $90.34 on Monday. CoStar Group, Inc. has a fifty-two week low of $67.35 and a fifty-two week high of $100.38. The company has a market cap of $36.90 billion, a price-to-earnings ratio of 98.20, a price-to-earnings-growth ratio of 10.38 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 12.01 and a quick ratio of 12.01. The firm has a 50 day simple moving average of $88.86 and a 200 day simple moving average of $84.19.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. CoStar Group had a net margin of 15.26% and a return on equity of 6.08%. The company had revenue of $640.00 million during the quarter, compared to analysts’ expectations of $634.27 million. During the same quarter in the previous year, the company posted $0.35 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, sell-side analysts anticipate that CoStar Group, Inc. will post 0.44 earnings per share for the current year.

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.