Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of CoStar Group Inc (NASDAQ:CSGP) by 4.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 129,095 shares of the technology company’s stock after buying an additional 4,910 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in CoStar Group were worth $54,328,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new stake in CoStar Group during the third quarter worth $100,000. Fort L.P. acquired a new stake in CoStar Group during the second quarter worth $122,000. Signet Financial Management LLC acquired a new stake in CoStar Group during the second quarter worth $152,000. Ropes Wealth Advisors LLC acquired a new stake in CoStar Group during the second quarter worth $186,000. Finally, Global X Management Co LLC increased its stake in CoStar Group by 225.2% during the second quarter. Global X Management Co LLC now owns 452 shares of the technology company’s stock worth $187,000 after acquiring an additional 313 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

In related news, Director Christopher J. Nassetta sold 571 shares of the business’s stock in a transaction on Monday, October 29th. The stock was sold at an average price of $349.67, for a total transaction of $199,661.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.47% of the company’s stock.

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on CoStar Group to $412.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 25th. Zacks Investment Research raised CoStar Group from a “hold” rating to a “buy” rating and set a $401.00 price objective for the company in a research note on Friday, October 26th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $475.00 price objective (up from $430.00) on shares of CoStar Group in a research note on Wednesday, July 25th. BidaskClub raised CoStar Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 17th. Finally, Bank of America lifted their price objective on CoStar Group from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Wednesday, July 25th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $451.44.

CSGP opened at $362.79 on Monday. CoStar Group Inc has a 12 month low of $283.11 and a 12 month high of $448.35. The firm has a market cap of $13.21 billion, a P/E ratio of 93.74, a P/E/G ratio of 3.04 and a beta of 1.52.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, October 23rd. The technology company reported $2.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.08 by $0.08. CoStar Group had a return on equity of 7.63% and a net margin of 17.61%. The firm had revenue of $305.53 million during the quarter, compared to analysts’ expectations of $305.99 million. During the same period in the previous year, the firm posted $1.41 EPS. CoStar Group’s revenue for the quarter was up 23.4% on a year-over-year basis. Analysts anticipate that CoStar Group Inc will post 7.13 earnings per share for the current fiscal year.

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CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplace to the commercial real estate industry in North America and internationally. The company offers CoStar Property Professional service that provides inventory of office, industrial, retail, and multifamily properties and land. It also provides CoStar COMPS Professional, which covers comparable commercial real estate sales information; CoStar Tenant, an online business-to-business prospecting and analytical tool; CoStarGo, an iPad and Android application; CoStar Lease Comps, an integrated solution that captures, manages, maintains, and analyzes lease data; CoStar Advertising to market a space for lease or a property for sale; and CoStar Portfolio Strategy to meet the research needs of commercial real estate owners, investors, lenders, and government regulators.

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

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