Sumitomo Mitsui Asset Management Company LTD raised its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 141.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,546 shares of the technology company’s stock after purchasing an additional 16,133 shares during the period. Sumitomo Mitsui Asset Management Company LTD owned 0.08% of CoStar Group worth $7,389,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Janus Henderson Group PLC increased its position in shares of CoStar Group by 2,015.2% during the second quarter. Janus Henderson Group PLC now owns 2,617,006 shares of the technology company’s stock worth $689,842,000 after acquiring an additional 2,493,281 shares in the last quarter. BlackRock Inc. increased its position in shares of CoStar Group by 5,124.3% during the first quarter. BlackRock Inc. now owns 1,546,911 shares of the technology company’s stock worth $320,551,000 after acquiring an additional 1,517,301 shares in the last quarter. Independence Advisors LLC bought a new stake in shares of CoStar Group during the second quarter worth about $32,338,000. Balyasny Asset Management LLC increased its position in shares of CoStar Group by 773.1% during the second quarter. Balyasny Asset Management LLC now owns 108,342 shares of the technology company’s stock worth $28,559,000 after acquiring an additional 95,933 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of CoStar Group by 2,599.7% during the third quarter. First Trust Advisors LP now owns 89,118 shares of the technology company’s stock worth $23,906,000 after acquiring an additional 85,817 shares in the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.
CoStar Group, Inc. (CSGP) opened at 295.75 on Wednesday. The company has a market cap of $9.71 billion, a price-to-earnings ratio of 99.28 and a beta of 1.51. The stock has a 50 day moving average of $280.05 and a 200-day moving average of $267.47. CoStar Group, Inc. has a one year low of $179.21 and a one year high of $301.04.
CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Wednesday, October 25th. The technology company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.28. CoStar Group had a net margin of 11.63% and a return on equity of 7.63%. The company had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $243.44 million. During the same quarter in the previous year, the business posted $1.11 earnings per share. CoStar Group’s quarterly revenue was up 16.4% on a year-over-year basis. On average, equities analysts predict that CoStar Group, Inc. will post $4.69 EPS for the current fiscal year.
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Several equities research analysts have recently commented on the stock. Stephens boosted their target price on shares of CoStar Group from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday. Zacks Investment Research raised shares of CoStar Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $335.00 price objective on shares of CoStar Group in a research report on Friday, October 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $325.00 price objective on shares of CoStar Group in a research report on Friday, October 27th. Finally, BidaskClub raised shares of CoStar Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 12th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $329.00.
CoStar Group Company Profile
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.
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