CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC trimmed its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 47.0% in the second quarter, HoldingsChannel reports. The firm owned 6,690 shares of the technology company’s stock after selling 5,938 shares during the period. Parallel Advisors LLC’s holdings in CoStar Group were worth $496,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Concurrent Investment Advisors LLC boosted its stake in CoStar Group by 4.7% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock valued at $242,000 after purchasing an additional 112 shares during the period. Lindbrook Capital LLC raised its position in shares of CoStar Group by 9.2% during the 1st quarter. Lindbrook Capital LLC now owns 1,337 shares of the technology company’s stock worth $129,000 after buying an additional 113 shares in the last quarter. Picton Mahoney Asset Management raised its position in shares of CoStar Group by 2.9% during the 2nd quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock worth $352,000 after buying an additional 135 shares in the last quarter. Redmond Asset Management LLC raised its position in shares of CoStar Group by 0.9% during the 1st quarter. Redmond Asset Management LLC now owns 18,670 shares of the technology company’s stock worth $1,804,000 after buying an additional 169 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC raised its position in shares of CoStar Group by 0.5% during the 2nd quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock worth $2,688,000 after buying an additional 172 shares in the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. JMP Securities restated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. The Goldman Sachs Group dropped their price target on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Bank of America dropped 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. Robert W. Baird dropped their target price on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Finally, StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $96.38.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $75.73 on Wednesday. The company’s fifty day moving average is $76.11 and its two-hundred day moving average is $82.09. The company has a market cap of $30.92 billion, a P/E ratio of 103.74, a price-to-earnings-growth ratio of 11.56 and a beta of 0.81. CoStar Group, Inc. has a 12-month low of $67.35 and a 12-month high of $100.38. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $677.18 million. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. CoStar Group’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. Equities analysts expect that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

CoStar Group Company Profile

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.