State Board of Administration of Florida Retirement System Purchases 469,427 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

State Board of Administration of Florida Retirement System raised its position in CoStar Group, Inc. (NASDAQ:CSGP) by 853.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 524,430 shares of the technology company’s stock after buying an additional 469,427 shares during the period. State Board of Administration of Florida Retirement System’s holdings in CoStar Group were worth $43,433,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the business. Reilly Financial Advisors LLC grew its holdings in shares of CoStar Group by 900.0% in the second quarter. Reilly Financial Advisors LLC now owns 300 shares of the technology company’s stock valued at $25,000 after acquiring an additional 270 shares in the last quarter. PNC Managed Account Solutions Inc. bought a new position in CoStar Group during the second quarter valued at about $30,000. McIlrath & Eck LLC grew its position in CoStar Group by 46.2% during the first quarter. McIlrath & Eck LLC now owns 38 shares of the technology company’s stock valued at $31,000 after buying an additional 12 shares during the period. Arkadios Wealth Advisors grew its position in CoStar Group by 900.0% during the second quarter. Arkadios Wealth Advisors now owns 420 shares of the technology company’s stock valued at $34,000 after buying an additional 378 shares during the period. Finally, Harbor Investment Advisory LLC grew its position in CoStar Group by 900.0% during the second quarter. Harbor Investment Advisory LLC now owns 500 shares of the technology company’s stock valued at $41,000 after buying an additional 450 shares during the period. 93.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ CSGP opened at $89.34 on Wednesday. The stock has a market cap of $35.29 billion, a PE ratio of 152.20, a price-to-earnings-growth ratio of 4.82 and a beta of 0.88. CoStar Group, Inc. has a fifty-two week low of $74.31 and a fifty-two week high of $95.28. The company has a debt-to-equity ratio of 0.18, a quick ratio of 11.62 and a current ratio of 11.62. The stock has a fifty day moving average of $86.33 and a 200-day moving average of $40.15.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Monday, July 26th. The technology company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.03. CoStar Group had a return on equity of 6.72% and a net margin of 12.68%. The company had revenue of $480.33 million during the quarter, compared to analysts’ expectations of $469.88 million. During the same period in the previous year, the business earned $2.53 earnings per share. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, sell-side analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current year.

In other news, Director John W. Hill sold 6,160 shares of the stock in a transaction dated Monday, August 9th. The shares were sold at an average price of $85.77, for a total value of $528,343.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.36% of the company’s stock.

Several research firms recently weighed in on CSGP. Truist reduced their price target on shares of CoStar Group from $107.00 to $98.00 and set a “buy” rating for the company in a research report on Wednesday, July 28th. TheStreet upgraded CoStar Group from a “c+” rating to a “b” rating in a research note on Tuesday, June 15th. Stephens started coverage on CoStar Group in a research note on Wednesday, July 21st. They issued a “buy” rating on the stock. Finally, Zacks Investment Research raised CoStar Group from a “sell” rating to a “hold” rating in a report on Friday, July 9th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $22.51.

CoStar Group Company Profile

CoStar Group, Inc provides commercial real estate information, analytics, and online marketplaces to the commercial real estate and related business communities. The firm’s suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values and market conditions.

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Institutional Ownership by Quarter for CoStar Group (NASDAQ:CSGP)

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