Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in shares of CoStar Group Inc (NASDAQ:CSGP) by 6.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 135,679 shares of the technology company’s stock after selling 8,909 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in CoStar Group were worth $63,283,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. BlackRock Inc. lifted its position in shares of CoStar Group by 7.0% in the 4th quarter. BlackRock Inc. now owns 3,061,248 shares of the technology company’s stock worth $1,032,680,000 after acquiring an additional 200,620 shares during the period. Vanguard Group Inc lifted its position in shares of CoStar Group by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 3,047,482 shares of the technology company’s stock worth $1,282,503,000 after acquiring an additional 9,345 shares during the period. JPMorgan Chase & Co. lifted its position in shares of CoStar Group by 4.0% in the 1st quarter. JPMorgan Chase & Co. now owns 581,742 shares of the technology company’s stock worth $271,335,000 after acquiring an additional 22,555 shares during the period. American Century Companies Inc. lifted its position in shares of CoStar Group by 124.5% in the 4th quarter. American Century Companies Inc. now owns 481,418 shares of the technology company’s stock worth $162,402,000 after acquiring an additional 266,965 shares during the period. Finally, Mackenzie Financial Corp lifted its position in shares of CoStar Group by 100.6% in the 4th quarter. Mackenzie Financial Corp now owns 423,354 shares of the technology company’s stock worth $142,814,000 after acquiring an additional 212,278 shares during the period. Hedge funds and other institutional investors own 95.93% of the company’s stock.

In related news, insider Andrew C. Florance sold 55,322 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $473.38, for a total transaction of $26,188,328.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Scott T. Wheeler sold 5,396 shares of the firm’s stock in a transaction on 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. Over the last three months, insiders sold 65,419 shares of company stock valued at $31,001,252. 2.47% of the stock is currently owned by insiders.

A number of brokerages have commented on CSGP. Zacks Investment Research upgraded CoStar Group from a “hold” rating to a “buy” rating and set a $547.00 price objective for the company in a research report on Tuesday, May 14th. Bank of America increased their target price on CoStar Group from $460.00 to $550.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Needham & Company LLC increased their target price on CoStar Group from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Citigroup increased their target price on CoStar Group from $490.00 to $575.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Wells Fargo & Co increased their target price on CoStar Group from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. CoStar Group has an average rating of “Buy” and a consensus target price of $538.25.

Shares of CSGP opened at $514.08 on Friday. CoStar Group Inc has a 1 year low of $315.85 and a 1 year high of $532.22. The company has a market capitalization of $18.79 billion, a PE ratio of 69.47, a P/E/G ratio of 3.48 and a beta of 1.45.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, April 23rd. The technology company reported $2.28 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $328.00 million during the quarter, compared to analysts’ expectations of $327.45 million. During the same period in the prior year, the firm posted $1.44 EPS. CoStar Group’s quarterly revenue was up 19.7% compared to the same quarter last year. Research analysts predict that CoStar Group Inc will post 9 earnings per share for the current year.

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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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