Rehmann Capital Advisory Group Reduces Stock Holdings in CoStar Group Inc (NASDAQ:CSGP)

Rehmann Capital Advisory Group reduced its stake in CoStar Group Inc (NASDAQ:CSGP) by 6.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 266 shares of the technology company’s stock after selling 19 shares during the period. Rehmann Capital Advisory Group’s holdings in CoStar Group were worth $147,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Commonwealth Bank of Australia increased its stake in CoStar Group by 77.4% in the second quarter. Commonwealth Bank of Australia now owns 55 shares of the technology company’s stock valued at $29,000 after purchasing an additional 24 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in CoStar Group by 1.5% in the second quarter. Allianz Asset Management GmbH now owns 2,228 shares of the technology company’s stock worth $1,234,000 after purchasing an additional 34 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in CoStar Group by 0.7% in the second quarter. Nisa Investment Advisors LLC now owns 5,035 shares of the technology company’s stock worth $2,790,000 after purchasing an additional 35 shares during the last quarter. NEXT Financial Group Inc increased its position in shares of CoStar Group by 9.9% in the second quarter. NEXT Financial Group Inc now owns 409 shares of the technology company’s stock valued at $227,000 after acquiring an additional 37 shares during the period. Finally, Huntington National Bank increased its position in shares of CoStar Group by 32.5% during the second quarter. Huntington National Bank now owns 159 shares of the technology company’s stock valued at $88,000 after buying an additional 39 shares during the period. Institutional investors own 95.71% of the company’s stock.

CoStar Group stock traded down $1.26 during midday trading on Friday, reaching $590.12. 5,272 shares of the stock traded hands, compared to its average volume of 298,027. The company has a 50-day simple moving average of $600.28 and a two-hundred day simple moving average of $548.77. CoStar Group Inc has a 12-month low of $315.85 and a 12-month high of $639.41. The firm has a market cap of $21.80 billion, a PE ratio of 79.92, a price-to-earnings-growth ratio of 4.41 and a beta of 1.36.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, July 23rd. The technology company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.22. The company had revenue of $343.76 million for the quarter, compared to analyst estimates of $336.71 million. CoStar Group had a return on equity of 10.42% and a net margin of 22.48%. CoStar Group’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 EPS. On average, analysts expect that CoStar Group Inc will post 9.02 EPS for the current year.

A number of brokerages have weighed in on CSGP. JPMorgan Chase & Co. upped their price objective on shares of CoStar Group from $425.00 to $597.00 and gave the stock an “underweight” rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods initiated coverage on shares of CoStar Group in a research note on Tuesday, July 9th. They issued an “outperform” rating and a $650.00 target price on the stock. ValuEngine downgraded shares of CoStar Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of CoStar Group from a “hold” rating to a “buy” rating and set a $666.00 target price on the stock in a research note on Tuesday, September 24th. Finally, BidaskClub upgraded shares of CoStar Group from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $626.00.

In other CoStar Group news, CFO Scott T. Wheeler sold 6,933 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $629.50, for a total value of $4,364,323.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Matthew Linnington sold 14,651 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $617.39, for a total value of $9,045,380.89. The disclosure for this sale can be found here. Insiders sold a total of 45,794 shares of company stock worth $28,629,079 in the last ninety days. 2.14% of the stock is owned by corporate insiders.

CoStar Group Company 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.

Read More: Cash Asset Ratio

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

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