CoStar Group, Inc. $CSGP Stock Sold by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. trimmed its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 31.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,383 shares of the technology company’s stock after selling 21,657 shares during the period. Rakuten Investment Management Inc.’s holdings in CoStar Group were worth $1,250,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of CoStar Group by 56.8% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,380 shares of the technology company’s stock worth $38,000 after purchasing an additional 500 shares during the last quarter. Greenleaf Trust bought a new stake in shares of CoStar Group in the 3rd quarter valued at about $228,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in CoStar Group in the 3rd quarter valued at about $2,846,000. Profund Advisors LLC acquired a new stake in CoStar Group in the 3rd quarter valued at about $206,000. Finally, ProShare Advisors LLC grew its holdings in CoStar Group by 1.4% during the third quarter. ProShare Advisors LLC now owns 78,872 shares of the technology company’s stock worth $2,161,000 after purchasing an additional 1,059 shares during the period. 96.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $40.00 price target on shares of CoStar Group in a research report on Wednesday, October 28th. KeyCorp set a $33.00 price objective on CoStar Group in a research report on Monday, August 24th. 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. The Goldman Sachs Group set a $36.00 target price on CoStar Group in a research note on Wednesday, October 28th. Finally, BTIG Research decreased their target price on CoStar Group from $42.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, October 28th. Ten equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, CoStar Group currently has a consensus rating of “Hold” and a consensus target price of $39.11.

CoStar Group Stock Performance

NASDAQ CSGP opened at $30.55 on Friday. The stock has a market cap of $12.29 billion, a PE ratio of 69.43, a P/E/G ratio of 0.77 and a beta of 0.79. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a 50-day moving average of $30.27 and a 200-day moving average of $36.15. CoStar Group, Inc. has a 52-week low of $25.89 and a 52-week high of $70.57.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, October 27th. The technology company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The business had revenue of $952.00 million for the quarter, compared to analyst estimates of $945.82 million. CoStar Group had a net margin of 4.87% and a return on equity of 4.87%. CoStar Group’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 EPS. On average, sell-side analysts anticipate that CoStar Group, Inc. will post 1.12 EPS for the current year.

CoStar Group Company Profile

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.