Lakehouse Capital Pty Ltd Sells 14,715 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Lakehouse Capital Pty Ltd lessened its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 11.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 111,605 shares of the technology company’s stock after selling 14,715 shares during the quarter. CoStar Group makes up 7.8% of Lakehouse Capital Pty Ltd’s holdings, making the stock its 7th biggest position. Lakehouse Capital Pty Ltd’s holdings in CoStar Group were worth $9,753,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Deutsche Bank AG grew its position in shares of CoStar Group by 37.1% in the third quarter. Deutsche Bank AG now owns 739,725 shares of the technology company’s stock valued at $56,877,000 after purchasing an additional 200,183 shares during the period. Wellington Management Group LLP grew its position in shares of CoStar Group by 22.7% in the third quarter. Wellington Management Group LLP now owns 3,580,549 shares of the technology company’s stock valued at $275,308,000 after purchasing an additional 662,592 shares during the period. LPL Financial LLC grew its position in shares of CoStar Group by 16.8% in the third quarter. LPL Financial LLC now owns 86,580 shares of the technology company’s stock valued at $6,657,000 after purchasing an additional 12,422 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of CoStar Group by 6.0% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,559 shares of the technology company’s stock valued at $351,000 after purchasing an additional 260 shares during the period. Finally, Fred Alger Management LLC boosted its position in CoStar Group by 9.0% during the third quarter. Fred Alger Management LLC now owns 439,295 shares of the technology company’s stock worth $33,777,000 after acquiring an additional 36,091 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Price Performance

CoStar Group stock opened at $96.22 on Thursday. CoStar Group, Inc. has a 52-week low of $67.03 and a 52-week high of $100.38. The company’s 50 day moving average is $86.24 and its two-hundred day moving average is $82.87. The company has a quick ratio of 12.01, a current ratio of 12.01 and a debt-to-equity ratio of 0.13. The firm has a market cap of $39.30 billion, a PE ratio of 104.59, a price-to-earnings-growth ratio of 10.90 and a beta of 0.83.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $640.00 million for the quarter, compared to the consensus estimate of $634.27 million. CoStar Group had a net margin of 15.26% and a return on equity of 6.08%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 EPS. On average, research analysts expect that CoStar Group, Inc. will post 0.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CSGP. JMP Securities boosted their price target on shares of CoStar Group from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. Needham & Company LLC lowered their price target on shares of CoStar Group from $105.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Citigroup boosted their price target on shares of CoStar Group from $90.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. The Goldman Sachs Group boosted their target price on shares of CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, BMO Capital Markets decreased their target price on shares of CoStar Group from $84.00 to $79.00 and set a “market perform” rating on the stock in a report on Thursday, February 22nd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, CoStar Group has an average rating of “Moderate Buy” and an average price target of $99.70.

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.