Plato Investment Management Ltd Grows Position in CoStar Group, Inc. (NASDAQ:CSGP)

Plato Investment Management Ltd raised its position in CoStar Group, Inc. (NASDAQ:CSGP) by 133.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,727 shares of the technology company’s stock after buying an additional 7,852 shares during the quarter. Plato Investment Management Ltd’s holdings in CoStar Group were worth $1,018,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in CoStar Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock valued at $6,322,615,000 after purchasing an additional 541,700 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of CoStar Group by 17.7% in the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after buying an additional 1,773,564 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of CoStar Group by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock worth $453,534,000 after buying an additional 124,761 shares during the period. Norges Bank purchased a new position in shares of CoStar Group during the fourth quarter worth about $406,934,000. Finally, Blair William & Co. IL grew its holdings in shares of CoStar Group by 0.6% during the first quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company’s stock worth $426,951,000 after buying an additional 26,800 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Up 1.2 %

CSGP opened at $78.87 on Monday. CoStar Group, Inc. has a one year low of $67.35 and a one year high of $100.38. The company has a market cap of $32.21 billion, a price-to-earnings ratio of 108.04, a PEG ratio of 11.56 and a beta of 0.81. The business’s fifty day moving average is $75.92 and its two-hundred day moving average is $82.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data 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 net margin of 8.19% and a return on equity of 3.99%. The business had revenue of $677.80 million for the quarter, compared to analyst estimates of $677.18 million. During the same period in the previous year, the firm earned $0.27 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Analysts anticipate that CoStar Group, Inc. will post 0.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CSGP. 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. Keefe, Bruyette & Woods reduced their target price on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Robert W. Baird dropped their price target on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Bank of America dropped their target price on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.