Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its stake in CoStar Group Inc (NASDAQ:CSGP) by 7.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,189 shares of the technology company’s stock after selling 621 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in CoStar Group were worth $1,697,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the company. Comerica Bank purchased a new stake in CoStar Group during the fourth quarter valued at approximately $299,000. State Board of Administration of Florida Retirement System raised its stake in CoStar Group by 7.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 43,346 shares of the technology company’s stock valued at $8,170,000 after buying an additional 3,067 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new stake in CoStar Group during the fourth quarter valued at approximately $249,000. Russell Investments Group Ltd. purchased a new stake in CoStar Group during the fourth quarter valued at approximately $29,934,000. Finally, Chartwell Investment Partners LLC purchased a new stake in CoStar Group during the third quarter valued at approximately $17,620,000. Institutional investors own 98.84% of the company’s stock.
CoStar Group Inc (NASDAQ:CSGP) traded up 0.79% on Friday, reaching $253.75. The company had a trading volume of 130,640 shares. The stock has a market capitalization of $8.31 billion, a PE ratio of 91.28 and a beta of 1.44. The stock has a 50 day moving average price of $229.00 and a 200 day moving average price of $205.89. CoStar Group Inc has a 52-week low of $179.21 and a 52-week high of $257.25.
CoStar Group (NASDAQ:CSGP) last released its earnings results on Wednesday, April 26th. The technology company reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.11. The firm had revenue of $227 million during the quarter, compared to analysts’ expectations of $224.69 million. CoStar Group had a net margin of 9.66% and a return on equity of 6.90%. CoStar Group’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 EPS. Analysts expect that CoStar Group Inc will post $4.37 EPS for the current year.
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Several research firms have commented on CSGP. Zacks Investment Research upgraded CoStar Group from a “hold” rating to a “buy” rating and set a $282.00 price objective for the company in a research note on Friday. B. Riley reiterated a “buy” rating and set a $275.00 price objective on shares of CoStar Group in a research note on Wednesday, May 3rd. Finally, Needham & Company LLC boosted their price objective on CoStar Group from $235.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Seven analysts have rated the stock with a buy rating, CoStar Group presently has a consensus rating of “Buy” and a consensus price target of $262.40.
In other CoStar Group news, VP Francis Carchedi sold 4,500 shares of CoStar Group stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $204.98, for a total value of $922,410.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew C. Florance sold 21,768 shares of CoStar Group stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $244.73, for a total transaction of $5,327,282.64. The disclosure for this sale can be found here. Insiders sold a total of 128,025 shares of company stock valued at $29,990,173 over the last ninety days. 2.98% of the stock is owned by corporate insiders.
About CoStar Group
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.
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