CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its position in CoStar Group, Inc. (NASDAQ:CSGP) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 350,231 shares of the technology company’s stock after selling 9,585 shares during the period. New York State Teachers Retirement System’s holdings in CoStar Group were worth $25,966,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC lifted its position in CoStar Group by 4.7% in the first 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 lifted its position in CoStar Group by 9.2% in the first quarter. Lindbrook Capital LLC now owns 1,337 shares of the technology company’s stock valued at $129,000 after purchasing an additional 113 shares during the period. Checchi Capital Advisers LLC increased its holdings in CoStar Group by 3.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,658 shares of the technology company’s stock valued at $320,000 after buying an additional 121 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in CoStar Group by 4.6% in the fourth quarter. Axxcess Wealth Management LLC now owns 2,775 shares of the technology company’s stock valued at $243,000 after buying an additional 123 shares in the last quarter. Finally, Redmond Asset Management LLC increased its holdings in CoStar Group by 0.9% in the first quarter. Redmond Asset Management LLC now owns 18,670 shares of the technology company’s stock valued at $1,804,000 after buying an additional 169 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $76.99 on Friday. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $31.44 billion, a price-to-earnings ratio of 105.47, a PEG ratio of 10.97 and a beta of 0.81. The firm’s fifty day simple moving average is $74.67 and its 200 day simple moving average is $82.82. CoStar Group, Inc. has a twelve month low of $67.35 and a twelve month high of $100.38.

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, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $677.18 million. During the same quarter in the previous year, the business posted $0.27 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts expect that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

CSGP has been the subject of a number of research analyst reports. 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. JPMorgan Chase & Co. increased their target price on shares of CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Monday, August 5th. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, July 29th. Royal Bank of Canada dropped their price objective on shares of CoStar Group from $109.00 to $96.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Finally, JMP Securities dropped their price objective on shares of CoStar Group from $110.00 to $90.00 and set a “market outperform” rating for the company in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, CoStar Group presently has an average rating of “Moderate Buy” and a consensus price target of $96.38.

CoStar Group 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.