Redmond Asset Management LLC decreased its position in CoStar Group Inc (NASDAQ:CSGP) by 53.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,127 shares of the technology company’s stock after selling 2,473 shares during the period. Redmond Asset Management LLC’s holdings in CoStar Group were worth $1,178,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in shares of 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 purchasing an additional 4,060 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of CoStar Group by 13.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 86,635 shares of the technology company’s stock valued at $29,227,000 after purchasing an additional 10,145 shares during the last quarter. Nwam LLC acquired a new stake in shares of CoStar Group in the first quarter valued at approximately $222,000. Wedbush Securities Inc. acquired a new stake in shares of CoStar Group in the first quarter valued at approximately $256,000. Finally, IFM Investors Pty Ltd increased its holdings in shares of CoStar Group by 10.7% in the first quarter. IFM Investors Pty Ltd now owns 2,311 shares of the technology company’s stock valued at $1,078,000 after purchasing an additional 224 shares during the last quarter. 95.81% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Matthew Linnington sold 14,651 shares of CoStar Group stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $617.39, for a total value of $9,045,380.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John W. Hill sold 315 shares of CoStar Group stock in a transaction on Monday, June 24th. The shares were sold at an average price of $553.23, for a total value of $174,267.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,109 shares of company stock valued at $28,803,346. 2.14% of the stock is owned by insiders.
CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, July 23rd. The technology company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.22. The company had revenue of $343.76 million during the quarter, compared to analysts’ expectations of $336.71 million. CoStar Group had a return on equity of 10.42% and a net margin of 22.48%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.05 earnings per share. Analysts expect that CoStar Group Inc will post 9.01 earnings per share for the current year.
Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods assumed coverage on CoStar Group in a report on Tuesday, July 9th. They issued an “outperform” rating and a $650.00 price target for the company. Bank of America increased their price target on CoStar Group from $460.00 to $550.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. JMP Securities increased their price target on CoStar Group from $525.00 to $630.00 and gave the company a “market outperform” rating in a report on Wednesday, July 24th. Needham & Company LLC increased their price target on CoStar Group to $675.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Wells Fargo & Co increased their price target on CoStar Group from $550.00 to $650.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $621.60.
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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