Greenleaf Trust Purchases New Shares in CoStar Group, Inc. (NASDAQ:CSGP)

Greenleaf Trust acquired a new stake in CoStar Group, Inc. (NASDAQ:CSGP) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,756 shares of the technology company’s stock, valued at approximately $283,000.

Other large investors have also modified their holdings of the company. Swedbank AB purchased a new position in shares of CoStar Group in the 1st quarter valued at about $4,223,000. SG Americas Securities LLC raised its stake in shares of CoStar Group by 390.8% during the 1st quarter. SG Americas Securities LLC now owns 99,800 shares of the technology company’s stock worth $9,641,000 after buying an additional 79,467 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of CoStar Group by 1.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,675 shares of the technology company’s stock valued at $100,046,000 after buying an additional 17,658 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in CoStar Group by 5.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 477,691 shares of the technology company’s stock valued at $46,145,000 after acquiring an additional 23,987 shares during the period. Finally, Twin Tree Management LP acquired a new stake in CoStar Group in the 1st quarter valued at $802,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $74.48 on Friday. The firm has a market cap of $30.52 billion, a PE ratio of 169.28 and a beta of 0.81. 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, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The business’s fifty day simple moving average is $76.46 and its 200-day simple moving average is $79.02.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.54%. The company had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. CoStar Group’s revenue for the quarter was up 10.9% compared to the same quarter last year. 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 several recent analyst reports. Needham & Company LLC decreased their price objective on shares of CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday. StockNews.com upgraded CoStar Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Robert W. Baird reduced their target price on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Citigroup lowered their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. decreased their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.