CoStar Group, Inc. $CSGP Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 23.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,129,215 shares of the technology company’s stock after selling 341,609 shares during the quarter. Pictet Asset Management Holding SA owned about 0.28% of CoStar Group worth $30,940,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of CoStar Group in the 2nd quarter worth approximately $957,612,000. Principal Financial Group Inc. increased its holdings in shares of CoStar Group by 0.7% in the 1st quarter. Principal Financial Group Inc. now owns 17,696,192 shares of the technology company’s stock valued at $713,866,000 after acquiring an additional 130,118 shares during the last quarter. Bamco Inc. NY bought a new stake in shares of CoStar Group in the 2nd quarter valued at approximately $612,470,000. Janus Henderson Group PLC raised its position in shares of CoStar Group by 3.4% during the 1st quarter. Janus Henderson Group PLC now owns 7,724,152 shares of the technology company’s stock valued at $311,586,000 after acquiring an additional 250,772 shares in the last quarter. Finally, Jupiter Topco LLC acquired a new stake in shares of CoStar Group during the 2nd quarter valued at approximately $221,826,000. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Down 2.9%

NASDAQ:CSGP opened at $30.33 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.12. The stock has a 50 day moving average of $30.21 and a 200-day moving average of $35.80. The firm has a market capitalization of $12.20 billion, a PE ratio of 68.93, a price-to-earnings-growth ratio of 0.79 and a beta of 0.79. CoStar Group, Inc. has a 52 week low of $25.89 and a 52 week high of $70.57.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, October 27th. The technology company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. The business had revenue of $952.00 million for the quarter, compared to the consensus estimate of $945.82 million. CoStar Group had a return on equity of 4.87% and a net margin of 4.87%. The business’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $0.23 EPS. Analysts predict that CoStar Group, Inc. will post 1.12 EPS for the current year.

Analyst Upgrades and Downgrades

CSGP has been the subject of a number of research reports. Citizens Jmp decreased their price objective on shares of CoStar Group from $44.00 to $35.00 and set a “market outperform” rating for the company in a report on Wednesday, July 29th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 target price on shares of CoStar Group in a research note on Wednesday, October 28th. The Goldman Sachs Group set a $36.00 target price on shares of CoStar Group in a report on Wednesday, October 28th. KeyCorp set a $33.00 price target on shares of CoStar Group in a research report on Monday, August 24th. Finally, Robert W. Baird set a $34.00 price target on shares of CoStar Group and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Ten investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $39.11.

About CoStar Group

CoStar Group, Inc. is a provider of commercial real estate information, analytics and online marketplaces. Its services help real estate professionals, investors, lenders and businesses research properties, evaluate markets and connect with buyers, sellers and tenants. The company’s brands include CoStar, which provides commercial property data and research; LoopNet, a commercial property marketplace; Apartments.com, a rental listings platform; and STR, which supplies benchmarking data for the hospitality industry.