ProShare Advisors LLC Sells 41,497 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

ProShare Advisors LLC lowered its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 8.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 425,065 shares of the technology company’s stock after selling 41,497 shares during the quarter. ProShare Advisors LLC owned about 0.10% of CoStar Group worth $31,514,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Swedbank AB bought a new stake in CoStar Group during the first quarter worth approximately $4,223,000. SG Americas Securities LLC grew its stake in shares of CoStar Group by 390.8% in the first quarter. SG Americas Securities LLC now owns 99,800 shares of the technology company’s stock worth $9,641,000 after acquiring an additional 79,467 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of CoStar Group by 1.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,675 shares of the technology company’s stock worth $100,046,000 after acquiring an additional 17,658 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of 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 acquiring an additional 24,866 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew 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 worth $46,145,000 after acquiring an additional 23,987 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CSGP shares. JMP Securities restated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Friday, September 6th. JPMorgan Chase & Co. raised their price objective on shares of CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Needham & Company LLC restated a “buy” rating and issued a $107.00 price objective on shares of CoStar Group in a research note on Tuesday, September 17th. Keefe, Bruyette & Woods lowered their price objective on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Finally, Bank of America decreased their price target on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and an average price target of $96.38.

CoStar Group Stock Down 2.4 %

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

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The company had revenue of $677.80 million during the quarter, compared to analysts’ expectations of $677.18 million. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the business earned $0.27 earnings per share. On average, analysts anticipate 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.