Park Avenue Securities LLC Sells 903 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Park Avenue Securities LLC cut its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.6% during the 2nd quarter, Holdings Channel reports. The firm owned 33,396 shares of the technology company’s stock after selling 903 shares during the quarter. Park Avenue Securities LLC’s holdings in CoStar Group were worth $2,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CSGP. Norges Bank acquired a new position in shares of CoStar Group during the 4th quarter worth about $406,934,000. Janus Henderson Group PLC increased its stake in shares of CoStar Group by 17.7% during the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock worth $1,140,650,000 after purchasing an additional 1,773,564 shares during the last quarter. Capital International Investors increased its stake in shares of CoStar Group by 32.2% during the 4th quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock worth $352,759,000 after purchasing an additional 982,837 shares during the last quarter. Capital Research Global Investors increased its stake in shares of CoStar Group by 49.2% during the 4th quarter. Capital Research Global Investors now owns 2,414,313 shares of the technology company’s stock worth $210,987,000 after purchasing an additional 796,386 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in shares of CoStar Group by 109.6% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,398,896 shares of the technology company’s stock worth $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.

Analysts Set New Price Targets

CSGP has been the topic of a number of research reports. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, July 29th. Jefferies Financial Group upped their price target on shares of CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Royal Bank of Canada decreased their price target on shares of CoStar Group from $109.00 to $96.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Robert W. Baird decreased their price target on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Finally, BMO Capital Markets upped their price target on shares of CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research note on Thursday, April 25th. One equities research 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $96.38.

Insider Activity at CoStar Group

In related news, Director John W. Hill 1,325 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.57% of the stock is owned by insiders.

CoStar Group Price Performance

Shares of CoStar Group stock traded up $0.38 on Wednesday, reaching $73.94. 2,117,973 shares of the stock were exchanged, compared to its average volume of 2,330,299. The firm’s 50 day moving average is $75.44 and its 200-day moving average is $83.70. CoStar Group, Inc. has a one year low of $67.35 and a one year high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. The firm has a market cap of $30.30 billion, a PE ratio of 100.77, a P/E/G ratio of 11.18 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.09 by $0.06. The business had revenue of $677.80 million during the quarter, compared to the consensus estimate of $677.18 million. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 EPS. As a group, analysts anticipate that CoStar Group, Inc. will post 0.49 EPS for the current fiscal year.

CoStar Group Profile

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.