CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by AE Wealth Management LLC

AE Wealth Management LLC cut its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 1.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 44,435 shares of the technology company’s stock after selling 872 shares during the period. AE Wealth Management LLC’s holdings in CoStar Group were worth $3,294,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CSGP. Janus Henderson Group PLC grew its stake in CoStar Group by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after acquiring an additional 1,773,564 shares during the period. Capital International Investors lifted its holdings in CoStar Group by 32.2% during the fourth quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock valued at $352,759,000 after purchasing an additional 982,837 shares in the last quarter. Capital Research Global Investors grew its position in shares of CoStar Group by 49.2% in the fourth quarter. Capital Research Global Investors now owns 2,414,313 shares of the technology company’s stock valued at $210,987,000 after purchasing an additional 796,386 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of CoStar Group during the second quarter worth about $46,692,000. Finally, Vanguard Group Inc. raised its position in shares of CoStar Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock worth $6,322,615,000 after purchasing an additional 541,700 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CSGP. Keefe, Bruyette & Woods cut their price objective on CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $96.00 price target on shares of CoStar Group in a research report on Tuesday, September 10th. 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. upped their target price on shares of CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, The Goldman Sachs Group decreased their price target on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.38.

CoStar Group Trading Down 2.4 %

CSGP opened at $77.37 on Monday. The stock has a market capitalization of $31.59 billion, a PE ratio of 105.99, a P/E/G ratio of 11.55 and a beta of 0.81. CoStar Group, Inc. has a one year low of $67.35 and a one year high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. The business’s 50 day moving average price is $76.32 and its 200 day moving average price is $81.88.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.09 by $0.06. The business had revenue of $677.80 million for the quarter, compared to analyst estimates of $677.18 million. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 EPS. As a group, equities research analysts expect that CoStar Group, Inc. will post 0.49 EPS for the current year.

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.