Louisiana State Employees Retirement System Sells 1,100 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Louisiana State Employees Retirement System cut its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,400 shares of the technology company’s stock after selling 1,100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in CoStar Group were worth $4,104,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new stake in CoStar Group during the 1st quarter valued at $31,000. RiverPark Advisors LLC bought a new position in CoStar Group in the 1st quarter worth $37,000. Industrial Alliance Investment Management Inc. bought a new position in CoStar Group in the 2nd quarter worth $49,000. Quarry LP bought a new position in CoStar Group in the 2nd quarter worth $54,000. Finally, Covestor Ltd raised its holdings in CoStar Group by 43.0% in the 1st quarter. Covestor Ltd now owns 702 shares of the technology company’s stock worth $68,000 after purchasing an additional 211 shares during the period. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Stock Performance

CoStar Group stock opened at $74.48 on Friday. The company has a 50 day moving average price of $76.46 and a 200-day moving average price of $78.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The company has a market capitalization of $30.52 billion, a PE ratio of 169.28 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.54%. CoStar Group’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. As a group, equities analysts forecast that CoStar Group, Inc. will post 0.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

CSGP has been the topic of a number of recent analyst reports. Citigroup decreased their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods decreased their price target on CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. The Goldman Sachs Group decreased their price target on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. BMO Capital Markets cut their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday. Finally, Royal Bank of Canada lowered CoStar Group from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $96.00 to $83.00 in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

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.