Blue Trust Inc. grew its holdings in CoStar Group, Inc. (NASDAQ:CSGP – Free Report) by 175.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,979 shares of the technology company’s stock after acquiring an additional 1,899 shares during the period. Blue Trust Inc.’s holdings in CoStar Group were worth $221,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of CSGP. Wealth Enhancement Advisory Services LLC increased its holdings in CoStar Group by 25.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,024 shares of the technology company’s stock worth $1,451,000 after purchasing an additional 3,008 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in shares of CoStar Group during the first quarter worth approximately $228,000. Blue Zone Wealth Advisors LLC increased its stake in shares of CoStar Group by 1.7% during the first quarter. Blue Zone Wealth Advisors LLC now owns 52,521 shares of the technology company’s stock worth $5,074,000 after buying an additional 875 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in CoStar Group in the first quarter valued at approximately $206,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in CoStar Group by 1.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,675 shares of the technology company’s stock worth $100,046,000 after acquiring an additional 17,658 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on CSGP. The Goldman Sachs Group reduced their price objective on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Citigroup decreased their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a report on Thursday. Royal Bank of Canada downgraded CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $96.00 to $83.00 in a report on Wednesday. Needham & Company LLC decreased their target price on CoStar Group from $107.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research note on Friday, September 6th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.25.
CoStar Group Stock Up 0.8 %
CSGP stock opened at $74.48 on Friday. The company has a market cap of $30.52 billion, a price-to-earnings ratio of 169.69 and a beta of 0.81. The company has a fifty day moving average price of $76.45 and a 200 day moving average price of $79.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38.
CoStar Group (NASDAQ:CSGP – Get Free Report) last announced its earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.54%. The business had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same period in the prior year, the company earned $0.25 earnings per share. The business’s revenue was up 10.9% compared to the same quarter last year. Sell-side analysts expect that CoStar Group, Inc. will post 0.49 earnings per share for the current year.
CoStar Group 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.
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