CoStar Group Inc (NASDAQ:CSGP) Shares Sold by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC lowered its position in shares of CoStar Group Inc (NASDAQ:CSGP) by 12.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 159,394 shares of the technology company’s stock after selling 21,797 shares during the quarter. CoStar Group accounts for about 1.7% of Stephens Investment Management Group LLC’s investment portfolio, making the stock its 4th biggest holding. Stephens Investment Management Group LLC owned about 0.44% of CoStar Group worth $88,314,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its stake in CoStar Group by 0.8% in the first quarter. BlackRock Inc. now owns 3,086,193 shares of the technology company’s stock valued at $1,439,461,000 after buying an additional 24,945 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in CoStar Group by 4.0% in the first quarter. JPMorgan Chase & Co. now owns 581,742 shares of the technology company’s stock valued at $271,335,000 after buying an additional 22,555 shares in the last quarter. American Century Companies Inc. lifted its stake in CoStar Group by 3.8% in the first quarter. American Century Companies Inc. now owns 499,624 shares of the technology company’s stock valued at $233,035,000 after buying an additional 18,206 shares in the last quarter. Geode Capital Management LLC lifted its stake in CoStar Group by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 335,302 shares of the technology company’s stock valued at $113,029,000 after buying an additional 4,060 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its position in shares of CoStar Group by 1.6% in the first quarter. Baillie Gifford & Co. now owns 324,889 shares of the technology company’s stock worth $151,535,000 after purchasing an additional 5,010 shares in the last quarter. Hedge funds and other institutional investors own 95.81% of the company’s stock.

A number of analysts have recently commented on CSGP shares. Bank of America boosted their price objective on shares of CoStar Group from $460.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Citigroup boosted their price objective on shares of CoStar Group from $575.00 to $680.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Needham & Company LLC boosted their price objective on shares of CoStar Group to $675.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. JMP Securities boosted their price objective on shares of CoStar Group from $525.00 to $630.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 24th. Finally, SunTrust Banks boosted their price objective on shares of CoStar Group to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $621.60.

Shares of NASDAQ:CSGP traded up $8.99 on Thursday, hitting $609.02. The company had a trading volume of 1,317 shares, compared to its average volume of 283,362. CoStar Group Inc has a 1-year low of $315.85 and a 1-year high of $639.41. The company has a market cap of $23.01 billion, a PE ratio of 82.39, a price-to-earnings-growth ratio of 4.66 and a beta of 1.32. The stock’s 50 day moving average is $591.90.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, July 23rd. The technology company reported $1.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.22. CoStar Group had a net margin of 22.48% and a return on equity of 10.42%. The business had revenue of $343.76 million for the quarter, compared to the consensus estimate of $336.71 million. During the same period in the prior year, the company posted $1.05 earnings per share. CoStar Group’s revenue was up 15.7% compared to the same quarter last year. As a group, sell-side analysts forecast that CoStar Group Inc will post 9.01 EPS for the current fiscal year.

In related news, VP Matthew Linnington sold 14,651 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $617.39, for a total transaction of $9,045,380.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Hill sold 315 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $553.23, for a total transaction of $174,267.45. The disclosure for this sale can be found here. Insiders sold 46,109 shares of company stock worth $28,803,346 over the last 90 days. 2.14% of the stock is currently owned by corporate insiders.

About CoStar Group

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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