Oppenheimer & Co. Inc. Sells 7,594 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Oppenheimer & Co. Inc. lowered its position in CoStar Group, Inc. (NASDAQ:CSGP) by 18.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 33,762 shares of the technology company’s stock after selling 7,594 shares during the period. Oppenheimer & Co. Inc.’s holdings in CoStar Group were worth $2,503,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CSGP. Vanguard Group Inc. grew its stake in CoStar Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock worth $6,322,615,000 after buying an additional 541,700 shares in the last quarter. Janus Henderson Group PLC increased its stake in CoStar Group by 17.7% in the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after acquiring an additional 1,773,564 shares during the last quarter. Bank of New York Mellon Corp raised its position in CoStar Group by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock valued at $453,534,000 after purchasing an additional 124,761 shares in the last quarter. Norges Bank purchased a new position in shares of CoStar Group in the 4th quarter worth about $406,934,000. Finally, Blair William & Co. IL raised its holdings 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 valued at $426,951,000 after buying an additional 26,800 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Bank of America reduced their price target on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $96.00 target price on shares of CoStar Group in a research report on Tuesday, September 10th. Robert W. Baird decreased their price objective on CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. JMP Securities reiterated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Friday, September 6th. Finally, The Goldman Sachs Group dropped their target price on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.38.

CoStar Group Stock Down 1.2 %

CSGP stock opened at $77.90 on Tuesday. CoStar Group, Inc. has a 1-year low of $67.35 and a 1-year high of $100.38. The business has a fifty day moving average price of $76.03 and a 200-day moving average price of $82.18. The stock has a market capitalization of $31.81 billion, a P/E ratio of 106.71, a P/E/G ratio of 11.56 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The business had revenue of $677.80 million during 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 quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 EPS. Equities analysts forecast that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

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.