Raymond James & Associates Grows Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Raymond James & Associates increased its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 1.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 628,112 shares of the technology company’s stock after buying an additional 10,999 shares during the period. Raymond James & Associates’ holdings in CoStar Group were worth $46,568,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. lifted its position in CoStar Group by 1,393.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 12,189 shares of the technology company’s stock valued at $1,065,000 after purchasing an additional 11,373 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in shares of CoStar Group by 11.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,589 shares of the technology company’s stock worth $312,000 after purchasing an additional 376 shares in the last quarter. Swedbank AB purchased a new position in shares of CoStar Group during the 1st quarter valued at about $4,223,000. Sumitomo Mitsui Trust Holdings Inc. lifted its position in CoStar Group by 1.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,675 shares of the technology company’s stock worth $100,046,000 after buying an additional 17,658 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in CoStar Group by 390.8% in the first quarter. SG Americas Securities LLC now owns 99,800 shares of the technology company’s stock worth $9,641,000 after buying an additional 79,467 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Trading Down 0.1 %

Shares of CSGP stock opened at $74.00 on Monday. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 12-month low of $67.35 and a 12-month high of $100.38. The stock has a market capitalization of $30.22 billion, a P/E ratio of 101.42, a P/E/G ratio of 10.90 and a beta of 0.81. The firm’s 50 day moving average is $74.71 and its 200 day moving average is $83.09.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The firm had revenue of $677.80 million for the quarter, compared to the consensus estimate of $677.18 million. During the same period last year, the business posted $0.27 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. Research analysts expect that CoStar Group, Inc. will post 0.49 earnings per share for the current year.

Analysts Set New Price Targets

CSGP has been the subject of a number of recent research reports. Robert W. Baird lowered their price objective on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. Royal Bank of Canada decreased their target price on shares of CoStar Group from $109.00 to $96.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Stephens reissued an “overweight” rating and issued a $105.00 price target on shares of CoStar Group in a report on Wednesday, April 24th. Finally, The Goldman Sachs Group dropped their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.38.

About CoStar Group

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.