CoStar Group Inc (CSGP) Stake Boosted by DekaBank Deutsche Girozentrale
DekaBank Deutsche Girozentrale raised its holdings in shares of CoStar Group Inc (NASDAQ:CSGP) by 9.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,997 shares of the technology company’s stock after purchasing an additional 166 shares during the period. DekaBank Deutsche Girozentrale’s holdings in CoStar Group were worth $960,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Morgan Stanley increased its stake in CoStar Group by 93.6% during the 2nd quarter. Morgan Stanley now owns 87,545 shares of the technology company’s stock valued at $36,124,000 after buying an additional 42,330 shares during the period. BlackRock Inc. lifted its stake in CoStar Group by 9.8% in the second quarter. BlackRock Inc. now owns 2,820,677 shares of the technology company’s stock valued at $1,163,897,000 after acquiring an additional 252,916 shares during the last quarter. Vident Investment Advisory LLC lifted its stake in CoStar Group by 73.6% in the second quarter. Vident Investment Advisory LLC now owns 2,495 shares of the technology company’s stock valued at $1,029,000 after acquiring an additional 1,058 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in CoStar Group by 24.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 177,511 shares of the technology company’s stock valued at $74,704,000 after acquiring an additional 34,737 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its position in shares of CoStar Group by 18.8% in the third quarter. IFM Investors Pty Ltd now owns 1,798 shares of the technology company’s stock valued at $757,000 after purchasing an additional 285 shares during the period. 95.89% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Christopher J. Nassetta sold 571 shares of the business’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.47% of the company’s stock.
CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, October 23rd. The technology company reported $2.16 EPS for the quarter, topping the Zacks’ consensus estimate of $2.08 by $0.08. The company had revenue of $305.53 million for 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 firm’s quarterly revenue was up 23.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 earnings per share. Equities analysts predict that CoStar Group Inc will post 7.13 EPS for the current fiscal year.
CSGP has been the topic of several analyst reports. BidaskClub lowered shares of CoStar Group from a “buy” rating to a “hold” rating in a report on Saturday, September 8th. Needham & Company LLC upped their price target on shares of CoStar Group from $475.00 to $500.00 and gave the stock a “buy” rating in a research report on Wednesday, September 12th. Zacks Investment Research upgraded shares of CoStar Group from a “hold” rating to a “buy” rating and set a $471.00 price target on the stock in a research report on Monday, October 1st. Finally, ValuEngine cut CoStar Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $451.44.
CoStar Group 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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