Allspring Global Investments Holdings LLC Grows Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Allspring Global Investments Holdings LLC raised its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 25.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 451,560 shares of the technology company’s stock after buying an additional 92,119 shares during the period. Allspring Global Investments Holdings LLC’s holdings in CoStar Group were worth $34,066,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Chicago Capital LLC raised its holdings in shares of CoStar Group by 1.0% in the third quarter. Chicago Capital LLC now owns 921,339 shares of the technology company’s stock worth $69,506,000 after acquiring an additional 9,155 shares during the last quarter. Blue Trust Inc. boosted its position in CoStar Group by 175.8% during the third quarter. Blue Trust Inc. now owns 2,979 shares of the technology company’s stock worth $221,000 after acquiring an additional 1,899 shares during the last quarter. Generate Investment Management Ltd acquired a new stake in CoStar Group during the third quarter worth approximately $4,688,000. V Square Quantitative Management LLC grew its position in shares of CoStar Group by 11.4% in the third quarter. V Square Quantitative Management LLC now owns 4,207 shares of the technology company’s stock valued at $317,000 after purchasing an additional 432 shares during the period. Finally, Aurora Investment Managers LLC. increased its stake in CoStar Group by 3.2% in the third quarter. Aurora Investment Managers LLC. now owns 21,857 shares of the technology company’s stock valued at $1,649,000 after purchasing an additional 678 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $72.82 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27. The stock has a market cap of $29.74 billion, a price-to-earnings ratio of 99.75 and a beta of 0.81. The stock’s 50 day moving average price is $76.46 and its 200 day moving average price is $79.20. CoStar Group, Inc. has a 12 month low of $67.35 and a 12 month high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. Equities research analysts anticipate that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CSGP has been the subject of a number of research analyst reports. Bank of America dropped their price objective on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. JMP Securities restated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a report on Friday, September 6th. JPMorgan Chase & Co. decreased their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday. The Goldman Sachs Group dropped their price objective on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $96.00 to $83.00 in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.15.

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.