Kayne Anderson Rudnick Investment Management LLC Sells 41,400 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Kayne Anderson Rudnick Investment Management LLC reduced its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 4.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 976,643 shares of the technology company’s stock after selling 41,400 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 0.24% of CoStar Group worth $72,408,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its holdings in shares of CoStar Group by 17.7% during the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock worth $1,140,650,000 after buying an additional 1,773,564 shares in the last quarter. Capital International Investors increased its holdings in CoStar Group by 32.2% during 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 in the last quarter. Capital Research Global Investors increased its holdings in CoStar Group by 49.2% during 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 in the last quarter. Renaissance Technologies LLC bought a new position in CoStar Group in the 2nd quarter valued at $46,692,000. Finally, Vanguard Group Inc. boosted its stake in CoStar Group by 0.8% in the first 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 in the last quarter. 96.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CSGP shares. Royal Bank of Canada restated an “outperform” rating and issued a $96.00 target price on shares of CoStar Group in a research note on Tuesday, September 10th. The Goldman Sachs Group lowered their price objective on shares of 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 target price on shares of CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Keefe, Bruyette & Woods decreased their price target 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, Needham & Company LLC restated a “buy” rating and issued a $107.00 price objective on shares of CoStar Group in a research report on Tuesday, September 17th. 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $96.38.

CoStar Group Price Performance

CSGP opened at $77.37 on Friday. The company has a fifty day moving average price of $76.32 and a two-hundred day moving average price of $81.92. The firm 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 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.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data 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 business 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 firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 earnings per share. As a group, analysts anticipate that CoStar Group, Inc. will post 0.49 earnings per share for the current year.

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.