CoStar Group, Inc. $CSGP Stock: Sumitomo Mitsui Trust Group Inc. Decreases Holdings

Sumitomo Mitsui Trust Group Inc. lessened its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 91.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,673 shares of the technology company’s stock after selling 845,447 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in CoStar Group were worth $2,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Gibbs Wealth Management lifted its holdings in shares of CoStar Group by 3.2% in the 3rd quarter. Gibbs Wealth Management now owns 10,125 shares of the technology company’s stock valued at $277,000 after purchasing an additional 311 shares during the last quarter. Empirical Finance LLC boosted its position in shares of CoStar Group by 6.6% in the 2nd quarter. Empirical Finance LLC now owns 8,770 shares of the technology company’s stock valued at $248,000 after purchasing an additional 545 shares during the period. Mufg Securities Americas Inc. boosted its position in shares of CoStar Group by 4.9% in the 2nd quarter. Mufg Securities Americas Inc. now owns 12,300 shares of the technology company’s stock valued at $348,000 after purchasing an additional 573 shares during the period. CYBER HORNET ETFs LLC grew its stake in CoStar Group by 50.8% during the 2nd quarter. CYBER HORNET ETFs LLC now owns 1,757 shares of the technology company’s stock worth $50,000 after buying an additional 592 shares during the last quarter. Finally, Motley Fool Asset Management LLC grew its stake in CoStar Group by 5.7% during the 3rd quarter. Motley Fool Asset Management LLC now owns 11,462 shares of the technology company’s stock worth $314,000 after buying an additional 615 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

Shares of CSGP opened at $30.55 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.32 and a current ratio of 1.32. CoStar Group, Inc. has a fifty-two week low of $25.89 and a fifty-two week high of $70.57. The firm has a 50-day simple moving average of $30.27 and a 200-day simple moving average of $36.15. The company has a market capitalization of $12.29 billion, a price-to-earnings ratio of 69.43, a price-to-earnings-growth ratio of 0.77 and a beta of 0.79.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, October 27th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.04. The firm had revenue of $952.00 million for the quarter, compared to analysts’ expectations of $945.82 million. CoStar Group had a return on equity of 4.87% and a net margin of 4.87%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 EPS. On average, equities research analysts anticipate that CoStar Group, Inc. will post 1.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Robert W. Baird set a $34.00 price target on CoStar Group and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Royal Bank Of Canada set a $34.00 price objective on CoStar Group and gave the company a “sector perform” rating in a report on Monday, July 13th. William Blair lowered shares of CoStar Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 29th. Wall Street Zen cut shares of CoStar Group from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Finally, Citigroup reaffirmed a “market outperform” rating on shares of CoStar Group in a report on Wednesday, October 28th. Ten analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, CoStar Group presently has a consensus rating of “Hold” and a consensus target price of $39.11.

CoStar Group Profile

CoStar Group, Inc is a provider of commercial real estate information, analytics and online marketplaces. Its services help real estate professionals, investors, lenders and businesses research properties, evaluate markets and connect with buyers, sellers and tenants.

The company’s brands include CoStar, which provides commercial property data and research; LoopNet, a commercial property marketplace; Apartments.com, a rental listings platform; and STR, which supplies benchmarking data for the hospitality industry.