CoStar Group, Inc. $CSGP Stock: Sumitomo Mitsui Trust Group Inc. Cuts Position

Sumitomo Mitsui Trust Group Inc. lessened its position in CoStar Group, Inc. (NASDAQ:CSGP) by 91.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm 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 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CSGP. BlackRock Inc. purchased a new stake in shares of CoStar Group in the second quarter valued at about $957,612,000. Principal Financial Group Inc. raised its holdings in CoStar Group by 0.7% during the first quarter. Principal Financial Group Inc. now owns 17,696,192 shares of the technology company’s stock worth $713,866,000 after purchasing an additional 130,118 shares in the last quarter. Bamco Inc. NY acquired a new stake in CoStar Group in the second quarter valued at about $612,470,000. Janus Henderson Group PLC lifted its position in CoStar Group by 3.4% in the first quarter. Janus Henderson Group PLC now owns 7,724,152 shares of the technology company’s stock valued at $311,586,000 after purchasing an additional 250,772 shares during the period. Finally, Jupiter Topco LLC acquired a new stake in CoStar Group in the second quarter valued at about $221,826,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Stock Down 4.7%

Shares of NASDAQ CSGP opened at $30.55 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.12. CoStar Group, Inc. has a 52 week low of $25.89 and a 52 week high of $70.57. The firm has a 50-day moving average price of $30.27 and a 200 day moving average price of $36.15. The stock 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 released its quarterly earnings data on Tuesday, October 27th. The technology company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. CoStar Group had a net margin of 4.87% and a return on equity of 4.87%. The firm had revenue of $952.00 million for the quarter, compared to the consensus estimate of $945.82 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. Equities research analysts anticipate that CoStar Group, Inc. will post 1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Weiss Ratings raised CoStar Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 29th. Robert W. Baird set a $34.00 target price on CoStar Group and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. William Blair downgraded CoStar Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 29th. Royal Bank Of Canada set a $34.00 price objective on CoStar Group and gave the stock a “sector perform” rating in a report on Monday, July 13th. Finally, Citizens Jmp dropped their price objective on CoStar Group from $44.00 to $35.00 and set a “market outperform” rating on the stock in a report on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $39.11.

About CoStar Group

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.