Mitsubishi UFJ Trust & Banking Corp lessened its holdings in shares of CoStar Group Inc (NASDAQ:CSGP) by 35.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 84,870 shares of the technology company’s stock after selling 46,482 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.23% of CoStar Group worth $35,717,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in CoStar Group by 9.8% during the second quarter. BlackRock Inc. now owns 2,820,677 shares of the technology company’s stock worth $1,163,897,000 after buying an additional 252,916 shares in the last quarter. American Century Companies Inc. acquired a new stake in CoStar Group during the second quarter worth $88,290,000. JPMorgan Chase & Co. boosted its stake in CoStar Group by 73.6% during the third quarter. JPMorgan Chase & Co. now owns 478,297 shares of the technology company’s stock worth $201,288,000 after buying an additional 202,743 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in CoStar Group by 49.9% during the second quarter. Bank of New York Mellon Corp now owns 442,556 shares of the technology company’s stock worth $182,611,000 after buying an additional 147,283 shares in the last quarter. Finally, Putnam Investments LLC boosted its stake in CoStar Group by 82.5% during the second quarter. Putnam Investments LLC now owns 305,109 shares of the technology company’s stock worth $125,897,000 after buying an additional 137,897 shares in the last quarter. 95.89% of the stock is currently owned by institutional investors.
Shares of NASDAQ:CSGP opened at $365.82 on Wednesday. The stock has a market cap of $13.45 billion, a price-to-earnings ratio of 94.53, a PEG ratio of 3.19 and a beta of 1.51. CoStar Group Inc has a 1-year low of $283.11 and a 1-year high of $448.35.
CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, October 23rd. The technology company reported $2.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.08 by $0.08. The company had revenue of $305.53 million during the quarter, compared to analyst estimates of $305.99 million. CoStar Group had a return on equity of 7.63% and a net margin of 17.61%. The company’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.41 EPS. On average, equities analysts anticipate that CoStar Group Inc will post 7.13 earnings per share for the current fiscal year.
In other news, Director Christopher J. Nassetta sold 571 shares of the business’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $349.67, for a total transaction of $199,661.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.47% of the stock is currently owned by insiders.
A number of equities research analysts have weighed in on the stock. Needham & Company LLC lifted their price target on shares of CoStar Group from $475.00 to $500.00 and gave the stock a “buy” rating in a research note on Wednesday, September 12th. BidaskClub downgraded shares of CoStar Group from a “buy” rating to a “hold” rating in a research note on Saturday, September 8th. Zacks Investment Research upgraded shares of CoStar Group from a “hold” rating to a “buy” rating and set a $471.00 target price on the stock in a research note on Monday, October 1st. Finally, ValuEngine downgraded shares of CoStar Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 31st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $451.44.
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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.
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