CoStar Group Inc (CSGP) Holdings Boosted by Fmr LLC

Fmr LLC raised its holdings in CoStar Group Inc (NASDAQ:CSGP) by 47.3% during the second quarter, HoldingsChannel reports. The firm owned 292,395 shares of the technology company’s stock after buying an additional 93,891 shares during the period. Fmr LLC’s holdings in CoStar Group were worth $120,651,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. raised its position in shares of CoStar Group by 43.1% during the 1st quarter. BlackRock Inc. now owns 2,567,761 shares of the technology company’s stock valued at $931,275,000 after acquiring an additional 773,285 shares in the last quarter. American Century Companies Inc. acquired a new stake in shares of CoStar Group during the 2nd quarter valued at approximately $88,290,000. Bank of New York Mellon Corp raised its position in shares of CoStar Group by 49.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 442,556 shares of the technology company’s stock valued at $182,611,000 after acquiring an additional 147,283 shares in the last quarter. Franklin Resources Inc. raised its position in shares of CoStar Group by 16.2% during the 1st quarter. Franklin Resources Inc. now owns 922,157 shares of the technology company’s stock valued at $334,483,000 after acquiring an additional 128,808 shares in the last quarter. Finally, Summit Trail Advisors LLC raised its position in shares of CoStar Group by 21,110.0% during the 1st quarter. Summit Trail Advisors LLC now owns 105,838 shares of the technology company’s stock valued at $106,000 after acquiring an additional 105,339 shares in the last quarter. 96.14% of the stock is currently owned by institutional investors.

In other news, CFO Scott T. Wheeler sold 4,700 shares of the stock in a transaction on Friday, July 27th. The stock was sold at an average price of $426.02, for a total value of $2,002,294.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Francis Carchedi sold 32,671 shares of the stock in a transaction on Friday, July 27th. The stock was sold at an average price of $421.87, for a total value of $13,782,914.77. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,755 shares of company stock valued at $23,901,460. 2.47% of the stock is owned by company insiders.

CSGP has been the topic of several research reports. BidaskClub lowered CoStar Group from a “buy” rating to a “hold” rating in a research report on Saturday, September 8th. Needham & Company LLC upped their price target on CoStar Group from $450.00 to $475.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. B. Riley upped their price target on CoStar Group from $400.00 to $460.00 and gave the company a “buy” rating in a research report on Friday, July 20th. Zacks Investment Research lowered CoStar Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 30th. Finally, SunTrust Banks upped their price target on CoStar Group to $475.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $442.36.

Shares of CSGP opened at $435.00 on Friday. The firm has a market cap of $15.83 billion, a P/E ratio of 84.61, a P/E/G ratio of 3.72 and a beta of 1.47. CoStar Group Inc has a 12 month low of $255.41 and a 12 month high of $448.35.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, July 24th. The technology company reported $1.66 EPS for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.35. The firm had revenue of $229.90 million during the quarter, compared to the consensus estimate of $293.55 million. CoStar Group had a return on equity of 7.25% and a net margin of 16.27%. The firm’s revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 EPS. analysts anticipate that CoStar Group Inc will post 6.98 earnings per share for the current year.

CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplace to the commercial real estate industry in North America and internationally. The company offers CoStar Property Professional service that provides inventory of office, industrial, retail, and multifamily properties and land. It also provides CoStar COMPS Professional, which covers comparable commercial real estate sales information; CoStar Tenant, an online business-to-business prospecting and analytical tool; CoStarGo, an iPad and Android application; CoStar Lease Comps, an integrated solution that captures, manages, maintains, and analyzes lease data; CoStar Advertising to market a space for lease or a property for sale; and CoStar Portfolio Strategy to meet the research needs of commercial real estate owners, investors, lenders, and government regulators.

Further Reading: Book Value Per Share in Stock Trading

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

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