Pendal Group Ltd acquired a new stake in CoStar Group Inc (NASDAQ:CSGP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,637 shares of the technology company’s stock, valued at approximately $2,569,000.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in CoStar Group by 0.8% in the 1st quarter. BlackRock Inc. now owns 3,086,193 shares of the technology company’s stock worth $1,439,461,000 after purchasing an additional 24,945 shares during the period. JPMorgan Chase & Co. boosted its stake in CoStar Group by 4.0% in the 1st quarter. JPMorgan Chase & Co. now owns 581,742 shares of the technology company’s stock worth $271,335,000 after purchasing an additional 22,555 shares during the period. American Century Companies Inc. boosted its stake in CoStar Group by 3.8% in the 1st quarter. American Century Companies Inc. now owns 499,624 shares of the technology company’s stock worth $233,035,000 after purchasing an additional 18,206 shares during the period. Geode Capital Management LLC boosted its stake in CoStar Group by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 335,302 shares of the technology company’s stock worth $113,029,000 after purchasing an additional 4,060 shares during the period. Finally, Baillie Gifford & Co. boosted its stake in CoStar Group by 1.6% in the 1st quarter. Baillie Gifford & Co. now owns 324,889 shares of the technology company’s stock worth $151,535,000 after purchasing an additional 5,010 shares during the period. Institutional investors and hedge funds own 95.81% of the company’s stock.

A number of equities analysts recently commented on CSGP shares. Citigroup raised their price objective on shares of CoStar Group from $575.00 to $680.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. JMP Securities raised their price objective on shares of CoStar Group from $525.00 to $630.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 24th. BidaskClub raised shares of CoStar Group from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. SunTrust Banks increased their target price on shares of CoStar Group to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Needham & Company LLC increased their target price on shares of CoStar Group to $675.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $621.60.

CSGP stock traded up $7.66 during midday trading on Thursday, reaching $607.69. The company had a trading volume of 19,997 shares, compared to its average volume of 283,362. CoStar Group Inc has a 1 year low of $315.85 and a 1 year high of $639.41. The stock has a market capitalization of $23.01 billion, a P/E ratio of 82.12, a P/E/G ratio of 4.66 and a beta of 1.32. The company’s 50 day moving average price is $591.90.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, July 23rd. The technology company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.22. CoStar Group had a net margin of 22.48% and a return on equity of 10.42%. The company had revenue of $343.76 million during the quarter, compared to the consensus estimate of $336.71 million. During the same quarter in the prior year, the firm earned $1.05 EPS. The company’s revenue was up 15.7% compared to the same quarter last year. As a group, sell-side analysts predict that CoStar Group Inc will post 9.01 EPS for the current fiscal year.

In other news, CFO Scott T. Wheeler sold 6,933 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $629.50, for a total transaction of $4,364,323.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Matthew Linnington sold 14,651 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.39, for a total transaction of $9,045,380.89. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,109 shares of company stock valued at $28,803,346. Insiders own 2.14% of the company’s stock.

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.

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

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