New York State Common Retirement Fund Sells 39,131 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

New York State Common Retirement Fund lowered its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 7.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 466,801 shares of the technology company’s stock after selling 39,131 shares during the quarter. New York State Common Retirement Fund owned approximately 0.11% of CoStar Group worth $40,794,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CSGP. Principal Financial Group Inc. lifted its position in CoStar Group by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,808,306 shares of the technology company’s stock valued at $1,523,061,000 after purchasing an additional 761,383 shares during the period. Bamco Inc. NY lifted its position in CoStar Group by 0.5% during the 3rd quarter. Bamco Inc. NY now owns 19,196,502 shares of the technology company’s stock valued at $1,476,019,000 after purchasing an additional 91,399 shares during the period. Massachusetts Financial Services Co. MA lifted its position in CoStar Group by 5.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,967,040 shares of the technology company’s stock valued at $920,146,000 after purchasing an additional 596,595 shares during the period. Artisan Partners Limited Partnership lifted its position in CoStar Group by 6.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 5,569,718 shares of the technology company’s stock valued at $428,256,000 after purchasing an additional 319,960 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in CoStar Group by 4.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,528,098 shares of the technology company’s stock valued at $425,056,000 after purchasing an additional 218,094 shares during the period. Institutional investors own 96.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on CSGP shares. Bank of America upped their target price on shares of CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, March 18th. BMO Capital Markets upped their target price on shares of CoStar Group from $79.00 to $84.00 and gave the company a “market perform” rating in a research report on Friday, April 19th. Robert W. Baird increased their price target on shares of CoStar Group from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. The Goldman Sachs Group increased their price target on shares of CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, William Blair reiterated an “outperform” rating on shares of CoStar Group in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.15.

CoStar Group Stock Performance

Shares of CSGP stock opened at $91.95 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.01 and a current ratio of 12.01. The company has a market capitalization of $37.55 billion, a P/E ratio of 125.96, a price-to-earnings-growth ratio of 9.73 and a beta of 0.84. The company’s 50 day moving average price is $89.40 and its two-hundred day moving average price is $84.64. CoStar Group, Inc. has a 52 week low of $67.35 and a 52 week high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01. The firm had revenue of $640.00 million for the quarter, compared to the consensus estimate of $634.27 million. CoStar Group had a net margin of 11.64% and a return on equity of 4.97%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the company posted $0.35 EPS. On average, analysts expect that CoStar Group, Inc. will post 0.44 earnings per share for the current fiscal year.

CoStar Group Company 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.