Candriam Luxembourg S.C.A. Has $1.14 Million Position in CoStar Group Inc (CSGP)

Candriam Luxembourg S.C.A. reduced its position in CoStar Group Inc (NASDAQ:CSGP) by 9.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,434 shares of the technology company’s stock after selling 243 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in CoStar Group were worth $1,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of CSGP. Norges Bank acquired a new position in shares of CoStar Group in the 4th quarter valued at $107,490,000. American Century Companies Inc. lifted its stake in shares of CoStar Group by 124.5% in the 4th quarter. American Century Companies Inc. now owns 481,418 shares of the technology company’s stock valued at $162,402,000 after purchasing an additional 266,965 shares during the period. Mackenzie Financial Corp lifted its stake in shares of CoStar Group by 100.6% in the 4th quarter. Mackenzie Financial Corp now owns 423,354 shares of the technology company’s stock valued at $142,814,000 after purchasing an additional 212,278 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of CoStar Group by 73.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 478,297 shares of the technology company’s stock valued at $201,288,000 after purchasing an additional 202,743 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of CoStar Group by 7.0% in the 4th quarter. BlackRock Inc. now owns 3,061,248 shares of the technology company’s stock valued at $1,032,680,000 after purchasing an additional 200,620 shares during the period. Hedge funds and other institutional investors own 96.17% of the company’s stock.

In other news, insider Andrew C. Florance sold 55,322 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $473.38, for a total transaction of $26,188,328.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Matthew Linnington sold 4,701 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $477.31, for a total transaction of $2,243,834.31. The disclosure for this sale can be found here. Insiders have sold 65,419 shares of company stock valued at $31,001,252 over the last 90 days. 2.47% of the stock is currently owned by company insiders.

CSGP has been the subject of several analyst reports. SunTrust Banks boosted their target price on shares of CoStar Group to $460.00 and gave the company a “positive” rating in a research note on Wednesday, February 27th. Bank of America upped their price objective on shares of CoStar Group from $460.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. ValuEngine upgraded shares of CoStar Group from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. BidaskClub upgraded shares of CoStar Group from a “sell” rating to a “hold” rating in a research report on Tuesday, January 29th. Finally, B. Riley upped their price objective on shares of CoStar Group from $460.00 to $512.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $538.25.

NASDAQ:CSGP opened at $503.88 on Wednesday. The firm has a market cap of $17.85 billion, a price-to-earnings ratio of 59.29, a P/E/G ratio of 3.24 and a beta of 1.45. CoStar Group Inc has a fifty-two week low of $315.85 and a fifty-two week high of $511.85.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data 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. The company had revenue of $328.00 million during the quarter, compared to analysts’ expectations of $327.45 million. CoStar Group had a net margin of 21.76% and a return on equity of 10.09%. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.44 earnings per share. Equities analysts predict that CoStar Group Inc will post 9.01 EPS for the current fiscal year.

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CoStar Group Profile

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.

Further Reading: What are the Different Types of Leveraged Buyouts?

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

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