Tocqueville Asset Management L.P. lessened its holdings in shares of CoStar Group Inc (NASDAQ:CSGP) by 67.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,000 shares of the technology company’s stock after selling 2,105 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in CoStar Group were worth $598,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in CoStar Group by 14.4% in the 2nd quarter. BlackRock Inc. now owns 3,531,271 shares of the technology company’s stock worth $1,956,536,000 after buying an additional 445,078 shares during the last quarter. State Street Corp lifted its position in CoStar Group by 0.3% in the 3rd quarter. State Street Corp now owns 758,350 shares of the technology company’s stock worth $449,853,000 after buying an additional 2,264 shares during the last quarter. Bank of America Corp DE lifted its position in CoStar Group by 13.7% in the 2nd quarter. Bank of America Corp DE now owns 359,259 shares of the technology company’s stock worth $199,050,000 after buying an additional 43,422 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in CoStar Group by 18.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 313,389 shares of the technology company’s stock worth $185,903,000 after buying an additional 48,262 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new stake in CoStar Group in the 2nd quarter worth approximately $146,377,000. Institutional investors own 93.90% of the company’s stock.
A number of research firms recently weighed in on CSGP. Needham & Company LLC dropped their target price on CoStar Group to $600.00 in a research report on Wednesday, October 23rd. B. Riley boosted their target price on CoStar Group from $610.00 to $640.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Wells Fargo & Co restated a “buy” rating on shares of CoStar Group in a research report on Monday, December 9th. ValuEngine upgraded CoStar Group from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Finally, BidaskClub upgraded CoStar Group from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $641.42.
In related news, Director Christopher J. Nassetta sold 406 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $570.99, for a total value of $231,821.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Laura Cox Kaplan sold 576 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $591.60, for a total value of $340,761.60. The disclosure for this sale can be found here. 2.14% of the stock is owned by corporate insiders.
CSGP opened at $649.63 on Friday. The stock has a market capitalization of $23.88 billion, a PE ratio of 71.41, a price-to-earnings-growth ratio of 4.89 and a beta of 1.35. The stock’s 50 day moving average price is $607.63 and its 200-day moving average price is $595.16. CoStar Group Inc has a 52-week low of $368.65 and a 52-week high of $659.00.
CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, October 22nd. The technology company reported $2.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.52 by $0.09. The company had revenue of $352.81 million for the quarter, compared to analysts’ expectations of $353.16 million. CoStar Group had a return on equity of 10.55% and a net margin of 23.17%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.16 earnings per share. As a group, analysts forecast that CoStar Group Inc will post 8.89 earnings per share for the current fiscal year.
CoStar Group Profile
CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.
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