Capital International Investors Boosts Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Capital International Investors grew its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 0.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,037,971 shares of the technology company’s stock after acquiring an additional 1,362 shares during the quarter. Capital International Investors’ holdings in CoStar Group were worth $390,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of CSGP. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of CoStar Group by 1,393.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 12,189 shares of the technology company’s stock worth $1,065,000 after buying an additional 11,373 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in shares of CoStar Group by 11.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,589 shares of the technology company’s stock worth $312,000 after buying an additional 376 shares during the last quarter. Simplicity Solutions LLC boosted its holdings in shares of CoStar Group by 5.7% in the 4th quarter. Simplicity Solutions LLC now owns 7,971 shares of the technology company’s stock worth $697,000 after buying an additional 431 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of CoStar Group by 1.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,675 shares of the technology company’s stock worth $100,046,000 after buying an additional 17,658 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of CoStar Group by 390.8% in the 1st quarter. SG Americas Securities LLC now owns 99,800 shares of the technology company’s stock worth $9,641,000 after buying an additional 79,467 shares during the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CSGP. Keefe, Bruyette & Woods cut their price target on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $107.00 price objective on shares of CoStar Group in a report on Wednesday. William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a report on Wednesday, April 24th. Jefferies Financial Group upped their price objective on shares of CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, April 12th. Finally, JMP Securities dropped their price objective on shares of CoStar Group from $110.00 to $90.00 and set a “market outperform” rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, CoStar Group currently has a consensus rating of “Moderate Buy” and an average price target of $96.08.

CoStar Group Price Performance

Shares of CSGP traded up $0.67 during midday trading on Friday, hitting $78.51. 2,360,576 shares of the company traded hands, compared to its average volume of 2,325,973. The stock has a 50-day moving average of $76.81 and a 200-day moving average of $83.99. CoStar Group, Inc. has a one year low of $67.35 and a one year high of $100.38. The firm has a market cap of $32.06 billion, a P/E ratio of 107.55, a PEG ratio of 13.28 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.09.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.06. The company had revenue of $677.80 million for the quarter, compared to analysts’ expectations of $677.18 million. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. CoStar Group’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 earnings per share. As a group, sell-side analysts predict that CoStar Group, Inc. will post 0.44 EPS for the current fiscal 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.