CoStar Group Inc (NASDAQ:CSGP) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC decreased its holdings in CoStar Group Inc (NASDAQ:CSGP) by 36.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 251,255 shares of the technology company’s stock after selling 147,110 shares during the quarter. CoStar Group accounts for about 1.1% of TimesSquare Capital Management LLC’s holdings, making the stock its 14th largest holding. TimesSquare Capital Management LLC owned 0.69% of CoStar Group worth $139,210,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of CoStar Group by 0.8% during the first quarter. BlackRock Inc. now owns 3,086,193 shares of the technology company’s stock valued at $1,439,461,000 after acquiring an additional 24,945 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of CoStar Group by 4.0% during the first quarter. JPMorgan Chase & Co. now owns 581,742 shares of the technology company’s stock valued at $271,335,000 after acquiring an additional 22,555 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of CoStar Group by 3.8% during the first quarter. American Century Companies Inc. now owns 499,624 shares of the technology company’s stock valued at $233,035,000 after acquiring an additional 18,206 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of CoStar Group by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 335,302 shares of the technology company’s stock valued at $113,029,000 after acquiring an additional 4,060 shares during the last quarter. Finally, Baillie Gifford & Co. raised its holdings in shares of CoStar Group by 1.6% during the first quarter. Baillie Gifford & Co. now owns 324,889 shares of the technology company’s stock valued at $151,535,000 after acquiring an additional 5,010 shares during the last quarter. 95.81% of the stock is owned by institutional investors.

A number of brokerages have commented on CSGP. Needham & Company LLC increased their target price on CoStar Group to $675.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. JMP Securities increased their target price on CoStar Group from $525.00 to $630.00 and gave the company a “market outperform” rating in a report on Wednesday, July 24th. Zacks Investment Research cut CoStar Group from a “buy” rating to a “hold” rating in a report on Monday, June 24th. BidaskClub raised CoStar Group from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Finally, JPMorgan Chase & Co. increased their target price on CoStar Group from $425.00 to $597.00 and gave the company an “underweight” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the stock. CoStar Group currently has a consensus rating of “Buy” and an average target price of $621.60.

In related news, VP Matthew Linnington sold 14,651 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $617.39, for a total value of $9,045,380.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Scott T. Wheeler sold 6,933 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $629.50, for a total value of $4,364,323.50. The disclosure for this sale can be found here. Insiders sold 46,109 shares of company stock valued at $28,803,346 over the last 90 days. Company insiders own 2.14% of the company’s stock.

Shares of CSGP stock traded up $3.82 during trading hours on Friday, reaching $615.46. The company had a trading volume of 1,853 shares, compared to its average volume of 282,389. The stock has a fifty day moving average of $593.44 and a 200-day moving average of $509.02. The company has a market capitalization of $22.90 billion, a price-to-earnings ratio of 83.07, a PEG ratio of 4.63 and a beta of 1.32. CoStar Group Inc has a 12-month low of $315.85 and a 12-month high of $639.41.

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

CoStar Group Company Profile

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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