CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC cut its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 16.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,813 shares of the technology company’s stock after selling 4,732 shares during the period. Highland Capital Management LLC’s holdings in CoStar Group were worth $1,765,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CSGP. Crewe Advisors LLC purchased a new position in shares of CoStar Group during the first quarter worth approximately $31,000. Riverview Trust Co purchased a new position in shares of CoStar Group during the first quarter worth about $35,000. RiverPark Advisors LLC acquired a new position in CoStar Group in the 1st quarter valued at about $37,000. Connectus Wealth LLC raised its stake in CoStar Group by 915.0% during the 4th quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock valued at $45,000 after acquiring an additional 467,534 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of CoStar Group by 43.0% in the first quarter. Covestor Ltd now owns 702 shares of the technology company’s stock valued at $68,000 after purchasing an additional 211 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CSGP. Bank of America lowered their price objective on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Robert W. Baird decreased their target price on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. boosted their price target on CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada reduced their price objective on CoStar Group from $109.00 to $96.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. One equities 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.38.

CoStar Group Stock Performance

Shares of NASDAQ:CSGP traded up $1.11 on Monday, hitting $78.10. The company’s stock had a trading volume of 46,214 shares, compared to its average volume of 2,271,479. CoStar Group, Inc. has a 12 month low of $67.35 and a 12 month high of $100.38. The stock’s 50-day moving average is $74.67 and its two-hundred day moving average is $82.80. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. The company has a market capitalization of $31.89 billion, a price-to-earnings ratio of 105.47, a price-to-earnings-growth ratio of 10.97 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates 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 quarter last year, the business earned $0.27 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities research analysts forecast that CoStar Group, Inc. will post 0.49 EPS for the current year.

CoStar Group 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.