CoStar Group Inc (NASDAQ:CSGP) Shares Sold by Stephens Investment Management Group LLC

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Stephens Investment Management Group LLC decreased its stake in shares of CoStar Group Inc (NASDAQ:CSGP) by 12.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 159,394 shares of the technology company’s stock after selling 21,797 shares during the quarter. CoStar Group comprises approximately 1.7% of Stephens Investment Management Group LLC’s investment portfolio, making the stock its 4th largest holding. Stephens Investment Management Group LLC’s holdings in CoStar Group were worth $88,314,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CSGP. Advisory Services Network LLC bought a new position in CoStar Group during the 2nd quarter valued at $36,000. AdvisorNet Financial Inc bought a new position in CoStar Group during the 2nd quarter valued at $52,000. Manchester Financial Inc. bought a new position in CoStar Group during the 2nd quarter valued at $75,000. Huntington National Bank lifted its stake in CoStar Group by 32.5% during the 2nd quarter. Huntington National Bank now owns 159 shares of the technology company’s stock valued at $88,000 after acquiring an additional 39 shares in the last quarter. Finally, Icon Wealth Partners LLC bought a new position in CoStar Group during the 1st quarter valued at $90,000. 95.81% of the stock is owned by institutional investors.

In related news, Director John W. Hill sold 315 shares of CoStar Group stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $553.23, for a total value of $174,267.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew C. Florance sold 24,210 shares of CoStar Group stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $628.64, for a total value of $15,219,374.40. The disclosure for this sale can be found here. In the last three months, insiders sold 46,109 shares of company stock valued at $28,803,346. 2.14% of the stock is currently owned by insiders.

Several brokerages have weighed in on CSGP. Wells Fargo & Co raised their price objective on CoStar Group from $550.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on CoStar Group from $425.00 to $597.00 and gave the company an “underweight” rating in a research note on Wednesday, July 24th. Bank of America raised their price objective on CoStar Group from $460.00 to $550.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Zacks Investment Research cut CoStar Group from a “buy” rating to a “hold” rating in a research note on Monday, June 24th. Finally, BidaskClub upgraded CoStar Group from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $621.60.

CSGP traded up $8.99 during trading hours on Thursday, hitting $609.02. The stock had a trading volume of 1,317 shares, compared to its average volume of 283,362. The firm’s fifty day simple moving average is $591.90. CoStar Group Inc has a 1 year low of $315.85 and a 1 year high of $639.41. The stock has a market capitalization of $23.01 billion, a PE ratio of 82.39, a PEG ratio of 4.66 and a beta of 1.32.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, July 23rd. The technology company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.22. CoStar Group had a return on equity of 10.42% and a net margin of 22.48%. The company had revenue of $343.76 million during the quarter, compared to analyst estimates of $336.71 million. During the same quarter last year, the firm posted $1.05 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. As a group, analysts forecast that CoStar Group Inc will post 9.01 EPS for the current year.

About CoStar Group

CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.

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Institutional Ownership by Quarter for CoStar Group (NASDAQ:CSGP)

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