CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC trimmed its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 9.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,163 shares of the technology company’s stock after selling 333 shares during the quarter. Summit Trail Advisors LLC’s holdings in CoStar Group were worth $235,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CSGP. Janus Henderson Group PLC raised 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 purchasing an additional 1,773,564 shares during the last quarter. Capital International Investors raised its stake in CoStar Group by 32.2% in the 4th 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 during the last quarter. Capital Research Global Investors raised its stake in CoStar Group by 49.2% in the 4th 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 last quarter. Renaissance Technologies LLC acquired a new position in CoStar Group in the 2nd quarter valued at $46,692,000. Finally, Vanguard Group Inc. raised its stake in CoStar Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock valued at $6,322,615,000 after purchasing an additional 541,700 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Price Performance

CSGP opened at $76.34 on Wednesday. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.13. The firm has a market cap of $31.17 billion, a price-to-earnings ratio of 104.58, a PEG ratio of 11.55 and a beta of 0.81. The stock’s 50-day moving average price is $76.34 and its 200 day moving average price is $81.75. CoStar Group, Inc. has a 12-month low of $67.35 and a 12-month high of $100.38.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results 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 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%. CoStar Group’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. As a group, sell-side analysts expect that CoStar Group, Inc. will post 0.49 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Robert W. Baird dropped 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. The Goldman Sachs Group dropped their target price on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. JMP Securities restated a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a report on Friday, September 6th. Royal Bank of Canada restated an “outperform” rating and issued a $96.00 target price on shares of CoStar Group in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. upped their target price on CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.