Sumitomo Mitsui DS Asset Management Company Ltd Sells 3,030 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Sumitomo Mitsui DS Asset Management Company Ltd cut its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,197 shares of the technology company’s stock after selling 3,030 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in CoStar Group were worth $8,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crewe Advisors LLC bought a new stake in shares of CoStar Group during the 1st quarter worth $31,000. Riverview Trust Co bought a new stake in CoStar Group during the first quarter worth about $35,000. RiverPark Advisors LLC purchased a new position in shares of CoStar Group in the 1st quarter worth about $37,000. TFO Wealth Partners LLC increased its position in shares of CoStar Group by 5,571.4% during the 4th quarter. TFO Wealth Partners LLC now owns 397 shares of the technology company’s stock valued at $350,000 after purchasing an additional 390 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. purchased a new position in shares of CoStar Group during the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analyst Ratings Changes

CSGP has been the topic of a number of recent research reports. Robert W. Baird reduced their price target on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods reduced their target price on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. 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 report on Wednesday, July 24th. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. Finally, The Goldman Sachs Group decreased their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a 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 assigned a buy rating to the company. According to data from MarketBeat, the stock 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 $77.30 on Friday. The company has a market capitalization of $31.56 billion, a PE ratio of 105.89, a PEG ratio of 10.97 and a beta of 0.81. The business has a fifty day moving average price of $75.01 and a 200-day moving average price of $82.65. CoStar Group, Inc. has a 1-year low of $67.35 and a 1-year 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.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data 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. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The business had revenue of $677.80 million during the quarter, compared to analyst estimates of $677.18 million. During the same period last year, the business earned $0.27 EPS. CoStar Group’s revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts expect that CoStar Group, Inc. will post 0.49 EPS 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.