CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 0.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,018,017 shares of the technology company’s stock after selling 956 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in CoStar Group were worth $88,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Deutsche Bank AG lifted its stake in CoStar Group by 37.1% in the third quarter. Deutsche Bank AG now owns 739,725 shares of the technology company’s stock valued at $56,877,000 after buying an additional 200,183 shares during the last quarter. Wellington Management Group LLP lifted its stake in CoStar Group by 22.7% in the third quarter. Wellington Management Group LLP now owns 3,580,549 shares of the technology company’s stock valued at $275,308,000 after buying an additional 662,592 shares during the last quarter. LPL Financial LLC lifted its stake in CoStar Group by 16.8% in the third quarter. LPL Financial LLC now owns 86,580 shares of the technology company’s stock valued at $6,657,000 after buying an additional 12,422 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in CoStar Group by 6.0% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,559 shares of the technology company’s stock valued at $351,000 after buying an additional 260 shares during the last quarter. Finally, Fred Alger Management LLC lifted its stake in CoStar Group by 9.0% in the third quarter. Fred Alger Management LLC now owns 439,295 shares of the technology company’s stock valued at $33,777,000 after buying an additional 36,091 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC cut their price objective on shares of CoStar Group from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Citigroup lifted their price objective on shares of CoStar Group from $90.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Jefferies Financial Group lifted their price objective on shares of CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, April 12th. JMP Securities restated a “market outperform” rating and set a $110.00 price objective on shares of CoStar Group in a research note on Friday, April 12th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of CoStar Group from $96.00 to $109.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and a consensus price target of $100.08.

CoStar Group Price Performance

NASDAQ:CSGP opened at $85.46 on Thursday. The business’s 50-day moving average price is $89.03 and its 200 day moving average price is $84.34. The firm has a market cap of $34.90 billion, a P/E ratio of 92.89, a PEG ratio of 9.92 and a beta of 0.84. CoStar Group, Inc. has a 52-week low of $67.35 and a 52-week high of $100.38. The company has a quick ratio of 12.01, a current ratio of 12.01 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $640.00 million for the quarter, compared to analysts’ expectations of $634.27 million. CoStar Group had a return on equity of 6.08% and a net margin of 15.26%. CoStar Group’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS. As a group, sell-side analysts predict that CoStar Group, Inc. will post 0.44 earnings per share for the current fiscal year.

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.