CoStar Group, Inc. (NASDAQ:CSGP) Stock Position Lessened by Artemis Investment Management LLP

Artemis Investment Management LLP trimmed its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 40.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 331,649 shares of the technology company’s stock after selling 225,282 shares during the period. Artemis Investment Management LLP owned approximately 0.08% of CoStar Group worth $25,020,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank AB acquired a new position in CoStar Group during the 1st quarter valued at about $4,223,000. SG Americas Securities LLC increased its stake in shares of CoStar Group by 390.8% during the first quarter. SG Americas Securities LLC now owns 99,800 shares of the technology company’s stock valued at $9,641,000 after acquiring an additional 79,467 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in CoStar Group by 1.7% during 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 purchasing an additional 17,658 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in 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 purchasing an additional 23,987 shares during the period. Finally, Twin Tree Management LP bought a new position in CoStar Group during the 1st quarter valued at $802,000. 96.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on CSGP shares. Robert W. Baird cut their price objective on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Needham & Company LLC restated a “buy” rating and set a $107.00 price objective on shares of CoStar Group in a research report on Tuesday, September 17th. JPMorgan Chase & Co. boosted their target price on shares of CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. The Goldman Sachs Group reduced their target price on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Bank of America dropped their price target on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, CoStar Group has a consensus rating of “Moderate Buy” and a consensus price target of $96.38.

CoStar Group Trading Up 2.5 %

Shares of NASDAQ CSGP opened at $75.15 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. CoStar Group, Inc. has a one year low of $67.35 and a one year high of $100.38. The business has a 50-day moving average price of $75.99 and a two-hundred day moving average price of $80.63. The firm has a market capitalization of $30.69 billion, a PE ratio of 102.95 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.15 EPS for the quarter, topping the consensus estimate 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 net margin of 8.19% and a return on equity of 3.99%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company posted $0.27 earnings per share. As a group, analysts predict that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

CoStar Group 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.