CoStar Group Inc (NASDAQ:CSGP) Shares Bought by Point72 Asset Management L.P.
Point72 Asset Management L.P. grew its position in shares of CoStar Group Inc (NASDAQ:CSGP) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,017 shares of the technology company’s stock after purchasing an additional 470 shares during the period. Point72 Asset Management L.P.’s holdings in CoStar Group were worth $25,139,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC acquired a new stake in CoStar Group in the third quarter valued at about $265,000. GQ Asset Management LLC acquired a new position in CoStar Group during the third quarter worth about $161,000. Nisa Investment Advisors LLC raised its stake in CoStar Group by 1.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,085 shares of the technology company’s stock worth $3,042,000 after acquiring an additional 50 shares in the last quarter. Bessemer Group Inc. raised its stake in CoStar Group by 117.7% during the fourth quarter. Bessemer Group Inc. now owns 2,299 shares of the technology company’s stock worth $1,375,000 after acquiring an additional 1,243 shares in the last quarter. Finally, National Pension Service raised its stake in CoStar Group by 5.5% during the third quarter. National Pension Service now owns 51,212 shares of the technology company’s stock worth $30,379,000 after acquiring an additional 2,671 shares in the last quarter. Institutional investors own 95.17% of the company’s stock.
Several research analysts have commented on the company. B. Riley boosted their target price on CoStar Group from $640.00 to $780.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Wells Fargo & Co reiterated a “buy” rating on shares of CoStar Group in a report on Monday, December 9th. BidaskClub upgraded CoStar Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 30th. Citigroup upped their target price on CoStar Group from $750.00 to $840.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $790.00 target price on shares of CoStar Group in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $718.00.
Shares of CoStar Group stock traded down $0.41 on Wednesday, reaching $540.24. 452,962 shares of the company’s stock were exchanged, compared to its average volume of 306,670. The company has a market capitalization of $19.18 billion, a P/E ratio of 62.82, a price-to-earnings-growth ratio of 3.80 and a beta of 1.21. CoStar Group Inc has a 52 week low of $452.42 and a 52 week high of $746.70. The firm’s 50-day moving average is $669.23 and its two-hundred day moving average is $616.64.
CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, February 25th. The technology company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.20. The firm had revenue of $374.73 million for the quarter, compared to analysts’ expectations of $364.28 million. CoStar Group had a return on equity of 10.25% and a net margin of 22.50%. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.81 EPS. Sell-side analysts forecast that CoStar Group Inc will post 9.18 earnings per share for the current fiscal year.
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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