Flputnam Investment Management Co. Sells 1,501 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Flputnam Investment Management Co. cut its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 19.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,202 shares of the technology company’s stock after selling 1,501 shares during the period. Flputnam Investment Management Co.’s holdings in CoStar Group were worth $542,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CSGP. Norges Bank purchased a new stake in CoStar Group during the fourth quarter valued at about $320,866,000. Mackenzie Financial Corp raised its stake in CoStar Group by 343.8% in the first quarter. Mackenzie Financial Corp now owns 2,913,586 shares of the technology company’s stock valued at $194,074,000 after purchasing an additional 2,257,140 shares in the last quarter. Capital International Investors bought a new position in CoStar Group during the first quarter valued at approximately $101,893,000. Renaissance Technologies LLC bought a new position in CoStar Group during the first quarter valued at approximately $94,633,000. Finally, Wellington Management Group LLP grew its position in CoStar Group by 51.3% during the first quarter. Wellington Management Group LLP now owns 3,477,341 shares of the technology company’s stock valued at $231,626,000 after acquiring an additional 1,178,764 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Needham & Company LLC cut their target price on shares of CoStar Group from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Bank of America lifted their price target on CoStar Group from $97.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Jefferies Financial Group lifted their price objective on CoStar Group from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Citigroup lifted their price objective on CoStar Group from $90.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Finally, The Goldman Sachs Group boosted their price target on CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, CoStar Group presently has a consensus rating of “Moderate Buy” and an average target price of $100.08.

CoStar Group Stock Down 1.0 %

NASDAQ CSGP opened at $85.46 on Thursday. The stock’s 50 day moving average is $89.03 and its 200 day moving average is $84.34. The company has a current ratio of 12.01, a quick ratio of 12.01 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 12 month low of $67.35 and a 12 month high of $100.38. The stock has a market cap of $34.90 billion, a PE ratio of 92.89, a P/E/G ratio of 9.92 and a beta of 0.84.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. The business had revenue of $640.00 million for the quarter, compared to analysts’ expectations of $634.27 million. CoStar Group had a return on equity of 6.08% and a net margin of 15.26%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 EPS. Research analysts predict that CoStar Group, Inc. will post 0.44 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.