Ensign Peak Advisors Inc Sells 359,406 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Ensign Peak Advisors Inc lowered its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 25.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,059,525 shares of the technology company’s stock after selling 359,406 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.26% of CoStar Group worth $78,553,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Swedbank AB bought a new position in shares of CoStar Group during the 1st quarter valued at approximately $4,223,000. SG Americas Securities LLC lifted its stake in CoStar Group by 390.8% in the first quarter. SG Americas Securities LLC now owns 99,800 shares of the technology company’s stock valued at $9,641,000 after purchasing an additional 79,467 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in CoStar Group by 1.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,675 shares of the technology company’s stock valued at $100,046,000 after purchasing an additional 17,658 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in CoStar Group by 70.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 60,163 shares of the technology company’s stock worth $5,258,000 after buying an additional 24,866 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of CoStar Group by 5.3% in the first 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 buying an additional 23,987 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

CoStar Group stock opened at $77.37 on Friday. The stock has a market cap of $31.59 billion, a price-to-earnings ratio of 105.99, a PEG ratio of 11.55 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. The business has a 50-day simple moving average of $76.32 and a 200 day simple moving average of $81.92. CoStar Group, Inc. has a 52 week low of $67.35 and a 52 week high of $100.38.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, topping 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 company had revenue of $677.80 million for the quarter, compared to analysts’ expectations of $677.18 million. During the same period in the prior year, the business earned $0.27 earnings per share. CoStar Group’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, research analysts forecast that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CSGP shares. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, July 29th. Bank of America reduced their target price 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 reissued a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $107.00 price objective on shares of CoStar Group in a report on Tuesday, September 17th. Finally, The Goldman Sachs Group dropped their target price on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CoStar Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.38.

CoStar Group Company 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.