State of Alaska Department of Revenue decreased its holdings in shares of CoStar Group Inc (NASDAQ:CSGP) by 10.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,140 shares of the technology company’s stock after selling 870 shares during the quarter. State of Alaska Department of Revenue’s holdings in CoStar Group were worth $2,945,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of CSGP. Korea Investment CORP acquired a new stake in shares of CoStar Group in the first quarter valued at $109,000. Adviser Investments LLC acquired a new stake in shares of CoStar Group in the first quarter valued at $181,000. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of CoStar Group by 39.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 510 shares of the technology company’s stock valued at $183,000 after buying an additional 143 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of CoStar Group in the first quarter valued at $218,000. Finally, Wellington Shields Capital Management LLC acquired a new stake in shares of CoStar Group in the first quarter valued at $245,000. 97.14% of the stock is owned by institutional investors.
In other news, CEO Andrew C. Florance sold 5,839 shares of the business’s stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $369.05, for a total value of $2,154,882.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 38,442 shares of company stock valued at $14,261,768 over the last three months. Company insiders own 2.47% of the company’s stock.
CoStar Group (NASDAQ:CSGP) last posted its earnings results on Monday, April 23rd. The technology company reported $1.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.28. CoStar Group had a return on equity of 6.97% and a net margin of 15.09%. The business had revenue of $274.00 million during the quarter, compared to the consensus estimate of $270.56 million. During the same period in the previous year, the business earned $1.05 EPS. The business’s quarterly revenue was up 20.7% on a year-over-year basis. research analysts anticipate that CoStar Group Inc will post 6.63 EPS for the current year.
CSGP has been the subject of a number of research reports. BidaskClub raised CoStar Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 21st. SunTrust Banks lifted their price objective on CoStar Group to $435.00 and gave the company a “buy” rating in a research note on Tuesday, April 24th. ValuEngine upgraded CoStar Group from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. JPMorgan Chase & Co. lifted their target price on CoStar Group from $350.00 to $353.00 and gave the company an “underweight” rating in a report on Tuesday, April 24th. Finally, Zacks Investment Research lowered CoStar Group from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $388.45.
About CoStar Group
CoStar Group, Inc provides information, analytics, and online marketplace to the commercial real estate industry in North America and internationally. The company offers CoStar Property Professional service that provides inventory of office, industrial, retail, and multifamily properties and land. It also provides CoStar COMPS Professional, which covers comparable commercial real estate sales information; CoStar Tenant, an online business-to-business prospecting and analytical tool; CoStarGo, an iPad and Android application; CoStar Lease Comps, an integrated solution that captures, manages, maintains, and analyzes lease data; CoStar Advertising to market a space for lease or a property for sale; and CoStar Portfolio Strategy to meet the research needs of commercial real estate owners, investors, lenders, and government regulators.
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