Teacher Retirement System of Texas Acquires 14,760 Shares of CoStar Group Inc (CSGP)

Teacher Retirement System of Texas raised its position in shares of CoStar Group Inc (NASDAQ:CSGP) by 30.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,496 shares of the technology company’s stock after buying an additional 14,760 shares during the period. Teacher Retirement System of Texas’ holdings in CoStar Group were worth $29,149,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in shares of CoStar Group by 73.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 478,297 shares of the technology company’s stock worth $201,288,000 after purchasing an additional 202,743 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of CoStar Group by 2.4% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 220,728 shares of the technology company’s stock worth $92,891,000 after purchasing an additional 5,138 shares during the last quarter. Legal & General Group Plc lifted its position in shares of CoStar Group by 3.5% during the 3rd quarter. Legal & General Group Plc now owns 143,802 shares of the technology company’s stock worth $60,518,000 after purchasing an additional 4,916 shares during the last quarter. Vanguard Group Inc lifted its position in shares of CoStar Group by 0.3% during the 3rd quarter. Vanguard Group Inc now owns 3,047,482 shares of the technology company’s stock worth $1,282,503,000 after purchasing an additional 9,345 shares during the last quarter. Finally, Cerebellum GP LLC acquired a new position in shares of CoStar Group during the 4th quarter worth about $169,000. 96.17% of the stock is owned by institutional investors and hedge funds.

In related news, VP Matthew Linnington sold 4,701 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $477.31, for a total transaction of $2,243,834.31. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Scott T. Wheeler sold 5,396 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $476.11, for a total value of $2,569,089.56. The disclosure for this sale can be found here. Insiders have sold 65,419 shares of company stock worth $31,001,252 over the last 90 days. Corporate insiders own 2.47% of the company’s stock.

Shares of CSGP opened at $503.88 on Wednesday. CoStar Group Inc has a 12-month low of $315.85 and a 12-month high of $511.85. The stock has a market cap of $17.85 billion, a P/E ratio of 68.09, a PEG ratio of 3.24 and a beta of 1.45.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, April 23rd. The technology company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.11. CoStar Group had a return on equity of 10.09% and a net margin of 21.76%. The firm had revenue of $328.00 million for the quarter, compared to analyst estimates of $327.45 million. During the same period in the previous year, the company posted $1.44 earnings per share. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. On average, equities analysts anticipate that CoStar Group Inc will post 9.01 EPS for the current fiscal year.

Several equities analysts recently weighed in on the company. Wells Fargo & Co boosted their price objective on CoStar Group from $500.00 to $550.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Needham & Company LLC boosted their price objective on CoStar Group from $500.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Zacks Investment Research cut CoStar Group from a “buy” rating to a “hold” rating in a research report on Monday. BidaskClub raised CoStar Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 30th. Finally, Citigroup boosted their price objective on CoStar Group from $490.00 to $575.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the stock. CoStar Group has a consensus rating of “Buy” and an average target price of $538.25.

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CoStar Group Profile

CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.

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Institutional Ownership by Quarter for CoStar Group (NASDAQ:CSGP)

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