California Public Employees Retirement System Sells 28,089 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

California Public Employees Retirement System lessened its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 728,286 shares of the technology company’s stock after selling 28,089 shares during the quarter. California Public Employees Retirement System’s holdings in CoStar Group were worth $63,645,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CSGP. Principal Financial Group Inc. lifted its position in CoStar Group by 4.0% in 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 acquiring an additional 761,383 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of CoStar Group by 22.7% during the 3rd quarter. Wellington Management Group LLP now owns 3,580,549 shares of the technology company’s stock worth $275,308,000 after purchasing an additional 662,592 shares during the last quarter. FMR LLC increased its stake in shares of CoStar Group by 83.2% during the 3rd quarter. FMR LLC now owns 1,405,414 shares of the technology company’s stock worth $108,062,000 after purchasing an additional 638,241 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of 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 worth $920,146,000 after purchasing an additional 596,595 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of CoStar Group by 24.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,775,814 shares of the technology company’s stock worth $136,542,000 after purchasing an additional 352,169 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

NASDAQ CSGP opened at $90.34 on Friday. CoStar Group, Inc. has a 52-week low of $67.35 and a 52-week high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.01 and a current ratio of 9.09. The company has a market capitalization of $36.90 billion, a P/E ratio of 123.75, a P/E/G ratio of 10.57 and a beta of 0.84. The company has a fifty day moving average of $89.55 and a 200-day moving average of $84.68.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The company had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.27 million. During the same period in the previous year, the firm posted $0.35 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts predict that CoStar Group, Inc. will post 0.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on CSGP. Jefferies Financial Group raised their price objective on shares of CoStar Group from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, April 12th. The Goldman Sachs Group raised their price objective on shares of CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. BMO Capital Markets raised their price objective on shares of CoStar Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a report on Thursday. Needham & Company LLC raised their price objective on shares of CoStar Group from $90.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, BTIG Research began coverage on shares of CoStar Group in a report on Friday, January 19th. They issued a “neutral” rating for the company. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.46.

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.