CIBC World Markets Inc. reduced its position in CoStar Group Inc (NASDAQ:CSGP) by 34.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 589 shares of the technology company’s stock after selling 304 shares during the period. CIBC World Markets Inc.’s holdings in CoStar Group were worth $275,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Berman Capital Advisors LLC acquired a new stake in CoStar Group during the 4th quarter valued at approximately $28,000. Executive Wealth Management LLC acquired a new stake in CoStar Group during the 4th quarter valued at approximately $32,000. Icon Wealth Partners LLC acquired a new stake in CoStar Group during the 1st quarter valued at approximately $90,000. ETF Managers Group LLC lifted its stake in CoStar Group by 17.7% during the 4th quarter. ETF Managers Group LLC now owns 365 shares of the technology company’s stock valued at $123,000 after acquiring an additional 55 shares during the period. Finally, Penserra Capital Management LLC acquired a new stake in CoStar Group during the 1st quarter valued at approximately $179,000. 96.06% of the stock is owned by institutional investors.

Several brokerages have commented on CSGP. BidaskClub cut shares of CoStar Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research cut shares of CoStar Group from a “buy” rating to a “hold” rating in a research note on Monday. SunTrust Banks lifted their price objective on shares of CoStar Group to $560.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Bank of America lifted their price objective on shares of CoStar Group from $460.00 to $550.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Needham & Company LLC boosted their target price on shares of CoStar Group from $500.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. One investment analyst has 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 an average rating of “Buy” and an average price target of $545.50.

NASDAQ:CSGP opened at $544.78 on Wednesday. The firm has a market cap of $19.91 billion, a price-to-earnings ratio of 73.62, a P/E/G ratio of 3.58 and a beta of 1.34. CoStar Group Inc has a fifty-two week low of $315.85 and a fifty-two week high of $555.10.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, April 23rd. The technology company reported $2.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.17 by $0.11. The company had revenue of $328.00 million during the quarter, compared to analysts’ expectations of $327.45 million. CoStar Group had a net margin of 21.76% and a return on equity of 10.09%. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.44 earnings per share. Equities analysts predict that CoStar Group Inc will post 9 EPS for the current fiscal year.

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About CoStar Group

CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.

Further Reading: Why are trading ranges significant?

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Institutional Ownership by Quarter for CoStar Group (NASDAQ:CSGP)

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