Inspire Investing LLC Sells 3,699 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Inspire Investing LLC lessened its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 6.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,978 shares of the technology company’s stock after selling 3,699 shares during the period. Inspire Investing LLC’s holdings in CoStar Group were worth $3,928,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Janus Henderson Group PLC lifted 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 in the last quarter. Capital International Investors lifted its position in shares of CoStar Group by 32.2% in the fourth quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock worth $352,759,000 after purchasing an additional 982,837 shares in the last quarter. Capital Research Global Investors boosted its holdings in CoStar Group by 49.2% during the fourth quarter. Capital Research Global Investors now owns 2,414,313 shares of the technology company’s stock worth $210,987,000 after purchasing an additional 796,386 shares during the last quarter. Westfield Capital Management Co. LP grew its position in CoStar Group by 109.6% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,398,896 shares of the technology company’s stock valued at $122,249,000 after purchasing an additional 731,375 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in CoStar Group in the 2nd quarter valued at $46,692,000. 96.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CSGP. Bank of America reduced their price objective 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 restated a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research note on Friday, September 6th. The Goldman Sachs Group dropped their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Needham & Company LLC reissued a “buy” rating and issued a $107.00 target price on shares of CoStar Group in a research note on Tuesday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $96.00 target price on shares of CoStar Group in a report on Tuesday, September 10th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.38.

CoStar Group Price Performance

NASDAQ:CSGP opened at $76.85 on Thursday. CoStar Group, Inc. has a 52 week low of $67.35 and a 52 week 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 firm’s 50-day simple moving average is $76.21 and its 200 day simple moving average is $82.05. The firm has a market cap of $31.38 billion, a price-to-earnings ratio of 105.27, a P/E/G ratio of 11.56 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share 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 the consensus estimate of $677.18 million. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.27 earnings per share. As a group, sell-side analysts predict that CoStar Group, Inc. will post 0.49 earnings per share 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.