CoStar Group, Inc. $CSGP Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,021,300 shares of the technology company’s stock after buying an additional 24,290 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of CoStar Group worth $82,113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in CSGP. Wayfinding Financial LLC acquired a new stake in shares of CoStar Group during the 1st quarter worth approximately $29,000. Bayforest Capital Ltd purchased a new position in shares of CoStar Group during the 1st quarter worth approximately $29,000. Zions Bancorporation National Association UT purchased a new position in shares of CoStar Group during the 1st quarter worth approximately $31,000. GKV Capital Management Co. Inc. purchased a new position in shares of CoStar Group during the 1st quarter worth approximately $31,000. Finally, Cullen Frost Bankers Inc. boosted its position in shares of CoStar Group by 137.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company’s stock worth $32,000 after purchasing an additional 235 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insider Buying and Selling at CoStar Group

In other news, insider Frederick G. Saint sold 25,000 shares of the firm’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $90.33, for a total value of $2,258,250.00. Following the sale, the insider directly owned 293,103 shares in the company, valued at approximately $26,475,993.99. This trade represents a 7.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.09% of the company’s stock.

Analysts Set New Price Targets

CSGP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of CoStar Group from $87.00 to $101.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $91.00 price objective on shares of CoStar Group in a research report on Thursday, October 9th. Robert W. Baird increased their price objective on shares of CoStar Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods raised their price target on shares of CoStar Group from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, July 17th. Finally, Wells Fargo & Company reissued an “underweight” rating and issued a $70.00 price target (up previously from $65.00) on shares of CoStar Group in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, CoStar Group has a consensus rating of “Moderate Buy” and a consensus target price of $94.15.

CoStar Group Price Performance

Shares of CSGP opened at $77.89 on Monday. CoStar Group, Inc. has a twelve month low of $68.41 and a twelve month high of $97.43. The firm’s fifty day simple moving average is $84.24 and its 200-day simple moving average is $82.78. The firm has a market capitalization of $33.00 billion, a price-to-earnings ratio of 311.56, a PEG ratio of 3.66 and a beta of 0.87. The company has a current ratio of 5.83, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12.

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.