CoStar Group, Inc. (NASDAQ:CSGP) Shares Purchased by Plato Investment Management Ltd

Plato Investment Management Ltd increased its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 133.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 13,727 shares of the technology company’s stock after purchasing an additional 7,852 shares during the quarter. Plato Investment Management Ltd’s holdings in CoStar Group were worth $1,018,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB purchased a new stake in CoStar Group in the first quarter valued at approximately $4,223,000. SG Americas Securities LLC grew its stake in shares of CoStar Group by 390.8% during the 1st quarter. SG Americas Securities LLC now owns 99,800 shares of the technology company’s stock valued at $9,641,000 after buying an additional 79,467 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of CoStar Group by 1.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,675 shares of the technology company’s stock worth $100,046,000 after buying an additional 17,658 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of CoStar Group by 70.4% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 60,163 shares of the technology company’s stock worth $5,258,000 after buying an additional 24,866 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its holdings in CoStar Group by 5.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 477,691 shares of the technology company’s stock valued at $46,145,000 after acquiring an additional 23,987 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Stock Performance

Shares of CSGP stock opened at $78.87 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27. The company’s fifty day moving average price is $75.92 and its two-hundred day moving average price is $82.24. The firm has a market capitalization of $32.21 billion, a P/E ratio of 108.04, a P/E/G ratio of 11.56 and a beta of 0.81. CoStar Group, Inc. has a 12 month low of $67.35 and a 12 month high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.09 by $0.06. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The business had revenue of $677.80 million for the quarter, compared to analysts’ expectations of $677.18 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The company’s revenue was up 11.9% compared to the same quarter last year. On average, research analysts anticipate that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CSGP shares. Royal Bank of Canada restated an “outperform” rating and set a $96.00 price target on shares of CoStar Group in a research note on Tuesday, September 10th. Robert W. Baird dropped their target price on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. Bank of America decreased their price objective on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Finally, Keefe, Bruyette & Woods cut their target price on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $96.38.

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.