Nisa Investment Advisors LLC Has $4.86 Million Position in CoStar Group, Inc. (NASDAQ:CSGP)

Nisa Investment Advisors LLC cut its position in CoStar Group, Inc. (NASDAQ:CSGP) by 1.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,582 shares of the technology company’s stock after selling 1,190 shares during the quarter. Nisa Investment Advisors LLC’s holdings in CoStar Group were worth $4,862,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CSGP. Vanguard Group Inc. boosted its position in shares of CoStar Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock valued at $6,322,615,000 after acquiring an additional 541,700 shares during the period. Janus Henderson Group PLC boosted its holdings in CoStar Group by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after purchasing an additional 1,773,564 shares during the period. Norges Bank bought a new stake in CoStar Group in the 4th quarter valued at about $406,934,000. Blair William & Co. IL grew its position in shares of CoStar Group by 0.6% during the 1st quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company’s stock worth $426,951,000 after purchasing an additional 26,800 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in shares of CoStar Group by 10.1% during the fourth quarter. Brown Advisory Inc. now owns 4,144,721 shares of the technology company’s stock worth $362,207,000 after purchasing an additional 380,859 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $74.91 on Tuesday. The firm has a market capitalization of $30.59 billion, a P/E ratio of 102.62, a P/E/G ratio of 10.90 and a beta of 0.81. CoStar Group, Inc. has a fifty-two week low of $67.35 and a fifty-two week high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27. The company’s 50 day moving average price is $74.68 and its two-hundred day moving average price is $83.02.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CSGP shares. Bank of America cut their price target on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. William Blair restated an “outperform” rating on shares of CoStar Group in a research report on Wednesday, April 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $107.00 price target on shares of CoStar Group in a research note on Wednesday, July 24th. JMP Securities reduced their price objective on shares of CoStar Group from $110.00 to $90.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada dropped their target price on shares of CoStar Group from $109.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.