DekaBank Deutsche Girozentrale Has $9.30 Million Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

DekaBank Deutsche Girozentrale lessened its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 3.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,765 shares of the technology company’s stock after selling 3,159 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in CoStar Group were worth $9,303,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new position in CoStar Group in the fourth quarter valued at $406,934,000. Janus Henderson Group PLC grew its holdings in shares of CoStar Group by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after acquiring an additional 1,773,564 shares in the last quarter. Capital International Investors increased its position in shares of CoStar Group by 32.2% in the fourth quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock valued at $352,759,000 after acquiring an additional 982,837 shares during the last quarter. Capital Research Global Investors raised its holdings in CoStar Group by 49.2% during the fourth quarter. Capital Research Global Investors now owns 2,414,313 shares of the technology company’s stock worth $210,987,000 after acquiring an additional 796,386 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in CoStar Group by 109.6% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,398,896 shares of the technology company’s stock valued at $122,249,000 after purchasing an additional 731,375 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on CSGP shares. Royal Bank of Canada lowered their price target on CoStar Group from $109.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Stephens reaffirmed an “overweight” rating and set a $105.00 price target on shares of CoStar Group in a research report on Wednesday, April 24th. The Goldman Sachs Group decreased their price objective on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods dropped their target price on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Finally, William Blair reiterated an “outperform” rating on shares of CoStar Group in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.08.

CoStar Group Stock Performance

Shares of CSGP traded down $1.87 during midday trading on Friday, reaching $75.27. 2,988,547 shares of the stock were exchanged, compared to its average volume of 2,745,817. The stock’s 50 day simple moving average is $75.90 and its 200 day simple moving average is $83.81. The company has a market cap of $30.85 billion, a P/E ratio of 103.11, a PEG ratio of 11.45 and a beta of 0.81. CoStar Group, Inc. has a twelve month low of $67.35 and a twelve month high of $100.38. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.06. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The business had revenue of $677.80 million during the quarter, compared to analysts’ expectations of $677.18 million. During the same quarter in the previous year, the company earned $0.27 EPS. The business’s revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts expect that CoStar Group, Inc. will post 0.49 earnings per share for the current year.

Insider Activity at CoStar Group

In other news, Director John W. Hill 1,325 shares of CoStar Group stock in a transaction on Tuesday, July 30th. The was disclosed in a legal filing with the SEC, which is available through this link. 1.57% of the stock is currently owned by corporate insiders.

About CoStar Group

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.