Clearbridge Investments LLC Has $16.63 Million Stake in CoStar Group Inc (NASDAQ:CSGP)

Clearbridge Investments LLC raised its holdings in CoStar Group Inc (NASDAQ:CSGP) by 3.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,645 shares of the technology company’s stock after purchasing an additional 1,334 shares during the quarter. Clearbridge Investments LLC owned 0.10% of CoStar Group worth $16,626,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CSGP. Kayne Anderson Rudnick Investment Management LLC raised its position in CoStar Group by 17.0% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 66,557 shares of the technology company’s stock worth $31,043,000 after purchasing an additional 9,672 shares during the last quarter. Blair William & Co. IL raised its position in shares of CoStar Group by 4.0% in the 1st quarter. Blair William & Co. IL now owns 259,053 shares of the technology company’s stock worth $120,827,000 after acquiring an additional 9,971 shares in the last quarter. American Century Companies Inc. increased its position in CoStar Group by 3.8% in the 1st quarter. American Century Companies Inc. now owns 499,624 shares of the technology company’s stock valued at $233,035,000 after buying an additional 18,206 shares in the last quarter. Fort L.P. increased its position in CoStar Group by 31.0% in the 1st quarter. Fort L.P. now owns 5,562 shares of the technology company’s stock valued at $2,594,000 after buying an additional 1,317 shares in the last quarter. Finally, Dynamic Capital Management Ltd bought a new stake in CoStar Group in the 1st quarter valued at about $1,460,000. 96.04% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director John W. Hill sold 315 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $553.23, for a total value of $174,267.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.14% of the stock is owned by corporate insiders.

A number of analysts recently commented on CSGP shares. Citigroup lowered International Container Terminal Services from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 24th. Needham & Company LLC lifted their price target on CoStar Group from $500.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Bank of America restated a “buy” rating and issued a $60.00 target price (up previously from $55.00) on shares of Western Digital in a research note on Wednesday, April 24th. Zacks Investment Research upgraded Focus Financial Partners from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Monday, June 24th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of RealPage in a report on Tuesday, July 9th. They issued an “outperform” rating and a $74.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. CoStar Group presently has a consensus rating of “Buy” and an average price target of $559.00.

NASDAQ CSGP traded down $0.87 during trading on Friday, hitting $587.14. 165,222 shares of the company’s stock traded hands, compared to its average volume of 236,366. The business’s fifty day moving average price is $543.88. The firm has a market cap of $21.46 billion, a price-to-earnings ratio of 79.34, a P/E/G ratio of 3.89 and a beta of 1.34. CoStar Group Inc has a 12-month low of $315.85 and a 12-month high of $592.34.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, April 23rd. The technology company reported $2.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.17 by $0.11. CoStar Group had a net margin of 21.76% and a return on equity of 10.09%. The company had revenue of $328.00 million during the quarter, compared to analyst estimates of $327.45 million. During the same period in the prior year, the business posted $1.44 earnings per share. CoStar Group’s revenue for the quarter was up 19.7% on a year-over-year basis. As a group, sell-side analysts expect that CoStar Group Inc will post 9 EPS for the current year.

About CoStar Group

CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.

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

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