Point72 Asia Singapore Pte. Ltd. Purchases Shares of 1,405 CoStar Group, Inc. (NASDAQ:CSGP)

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,405 shares of the technology company’s stock, valued at approximately $104,000.

Several other hedge funds have also made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its stake in CoStar Group by 4.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 324,918 shares of the technology company’s stock worth $28,395,000 after buying an additional 13,426 shares during the last quarter. Cetera Advisor Networks LLC lifted its holdings in shares of CoStar Group by 2.7% during the 4th quarter. Cetera Advisor Networks LLC now owns 76,266 shares of the technology company’s stock worth $6,665,000 after acquiring an additional 2,032 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of CoStar Group by 2.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,817,818 shares of the technology company’s stock worth $158,859,000 after acquiring an additional 42,004 shares during the last quarter. Ossiam grew its holdings in CoStar Group by 39.3% in the fourth quarter. Ossiam now owns 9,769 shares of the technology company’s stock valued at $854,000 after purchasing an additional 2,754 shares during the period. Finally, Connectus Wealth LLC grew its holdings in CoStar Group by 915.0% in the fourth quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock valued at $45,000 after purchasing an additional 467,534 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $74.10 on Friday. The stock has a market cap of $30.26 billion, a P/E ratio of 101.51 and a beta of 0.81. The firm’s 50-day simple moving average is $76.10 and its 200 day simple moving average is $81.00. 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 quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. The Goldman Sachs Group lowered their price target on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped their price target on CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $96.00 price objective on shares of CoStar Group in a research note on Tuesday, September 10th. Finally, Bank of America decreased their target price on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, CoStar Group has an average rating of “Moderate Buy” and a consensus price target of $96.38.

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.