DNB Asset Management AS Sells 2,405 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

DNB Asset Management AS cut its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 3.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,547 shares of the technology company’s stock after selling 2,405 shares during the quarter. DNB Asset Management AS’s holdings in CoStar Group were worth $4,860,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in CoStar Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock valued at $6,322,615,000 after purchasing an additional 541,700 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of CoStar Group by 17.7% during the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock worth $1,140,650,000 after buying an additional 1,773,564 shares in the last quarter. Norges Bank bought a new position in shares of CoStar Group in the fourth quarter valued at approximately $406,934,000. Blair William & Co. IL raised its stake in shares of CoStar Group by 0.6% in the first quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company’s stock valued at $426,951,000 after acquiring an additional 26,800 shares during the last quarter. Finally, Brown Advisory Inc. boosted its holdings in shares of CoStar Group by 10.1% in the 4th quarter. Brown Advisory Inc. now owns 4,144,721 shares of the technology company’s stock worth $362,207,000 after acquiring an additional 380,859 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

Insider Activity at CoStar Group

In other news, Director John W. Hill 1,325 shares of the company’s stock in a transaction on Tuesday, July 30th. The was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.57% of the stock is currently owned by corporate insiders.

CoStar Group Stock Performance

CSGP stock opened at $73.56 on Wednesday. CoStar Group, Inc. has a twelve month low of $67.35 and a twelve month high of $100.38. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. The company has a market cap of $30.15 billion, a P/E ratio of 100.77, a price-to-earnings-growth ratio of 11.18 and a beta of 0.81. The business’s fifty day moving average is $75.44 and its 200-day moving average is $83.70.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The business had revenue of $677.80 million during the quarter, compared to the consensus estimate of $677.18 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. Equities research analysts forecast that CoStar Group, Inc. will post 0.49 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group dropped their price target on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Stephens reiterated an “overweight” rating and set a $105.00 price target on shares of CoStar Group in a research report on Wednesday, April 24th. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, July 29th. JPMorgan Chase & Co. boosted their target price on shares of CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, JMP Securities decreased their price target on shares of CoStar Group from $110.00 to $90.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and an average target price of $96.38.

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.