CoStar Group, Inc. (CSGP) Shares Sold by Cambridge Investment Research Advisors Inc.
Cambridge Investment Research Advisors Inc. decreased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 0.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,165 shares of the technology company’s stock after selling 3 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in CoStar Group were worth $3,470,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in CSGP. BlackRock Inc. increased its position in shares of CoStar Group by 5,124.3% in the first quarter. BlackRock Inc. now owns 1,546,911 shares of the technology company’s stock valued at $320,551,000 after buying an additional 1,517,301 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of CoStar Group by 37.2% in the first quarter. Wellington Management Group LLP now owns 1,859,435 shares of the technology company’s stock worth $385,312,000 after buying an additional 503,903 shares in the last quarter. Independence Advisors LLC purchased a new position in shares of CoStar Group during the second quarter worth $32,338,000. Columbia Wanger Asset Management LLC boosted its position in shares of CoStar Group by 78.5% in the first quarter. Columbia Wanger Asset Management LLC now owns 234,026 shares of the technology company’s stock worth $48,495,000 after buying an additional 102,946 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of CoStar Group by 4.0% in the first quarter. Vanguard Group Inc. now owns 2,553,913 shares of the technology company’s stock worth $529,222,000 after buying an additional 99,302 shares in the last quarter. 99.87% of the stock is owned by hedge funds and other institutional investors.
Shares of CoStar Group, Inc. (CSGP) opened at 282.46 on Wednesday. The firm has a 50-day moving average price of $277.81 and a 200-day moving average price of $242.49. CoStar Group, Inc. has a 12 month low of $179.21 and a 12 month high of $287.85. The stock has a market cap of $9.27 billion, a PE ratio of 94.82 and a beta of 1.51.
CoStar Group (NASDAQ:CSGP) last issued its earnings results on Wednesday, July 26th. The technology company reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.23. CoStar Group had a net margin of 10.85% and a return on equity of 7.19%. The company had revenue of $237.20 million during the quarter, compared to analysts’ expectations of $234.38 million. During the same period last year, the company posted $0.91 earnings per share. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. Equities analysts forecast that CoStar Group, Inc. will post $4.49 EPS for the current year.
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A number of brokerages recently weighed in on CSGP. Citigroup Inc. set a $320.00 price objective on CoStar Group and gave the company a “buy” rating in a report on Friday, July 28th. Zacks Investment Research upgraded CoStar Group from a “hold” rating to a “buy” rating and set a $293.00 price objective on the stock in a research report on Thursday, June 1st. B. Riley reiterated a “buy” rating and issued a $325.00 price objective on shares of CoStar Group in a research report on Wednesday, July 19th. Finally, SunTrust Banks, Inc. lifted their price objective on CoStar Group from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, July 5th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $313.67.
In other CoStar Group news, Director Michael R. Klein sold 20,000 shares of the stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $265.01, for a total value of $5,300,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Matthew Linnington sold 1,767 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $273.15, for a total transaction of $482,656.05. The disclosure for this sale can be found here. Company insiders own 2.98% of the company’s stock.
About CoStar Group
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.
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