Citadel Advisors LLC Acquires 25,895 Shares of CoStar Group Inc (NASDAQ:CSGP)

Citadel Advisors LLC increased its holdings in shares of CoStar Group Inc (NASDAQ:CSGP) by 14.4% during the second quarter, Holdings Channel.com reports. The firm owned 205,866 shares of the technology company’s stock after buying an additional 25,895 shares during the period. Citadel Advisors LLC’s holdings in CoStar Group were worth $114,062,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CSGP. Geode Capital Management LLC boosted its stake in shares of CoStar Group by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 335,302 shares of the technology company’s stock valued at $113,029,000 after purchasing an additional 4,060 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in CoStar Group by 13.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 86,635 shares of the technology company’s stock valued at $29,227,000 after acquiring an additional 10,145 shares in the last quarter. Raymond James & Associates boosted its stake in CoStar Group by 3.6% in the first quarter. Raymond James & Associates now owns 8,778 shares of the technology company’s stock valued at $4,094,000 after acquiring an additional 308 shares in the last quarter. ETF Managers Group LLC boosted its stake in CoStar Group by 7.9% in the first quarter. ETF Managers Group LLC now owns 394 shares of the technology company’s stock valued at $184,000 after acquiring an additional 29 shares in the last quarter. Finally, TD Asset Management Inc. boosted its stake in CoStar Group by 3.5% in the first quarter. TD Asset Management Inc. now owns 28,962 shares of the technology company’s stock valued at $13,508,000 after acquiring an additional 980 shares in the last quarter. Hedge funds and other institutional investors own 95.71% of the company’s stock.

Shares of NASDAQ:CSGP traded down $3.61 on Friday, hitting $595.00. 176,834 shares of the company were exchanged, compared to its average volume of 252,197. CoStar Group Inc has a 1-year low of $315.85 and a 1-year high of $639.41. The stock’s 50 day moving average price is $606.73 and its 200 day moving average price is $540.66. The firm has a market capitalization of $21.60 billion, a P/E ratio of 80.41, a price-to-earnings-growth ratio of 4.37 and a beta of 1.34.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, July 23rd. The technology company reported $1.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.22. CoStar Group had a net margin of 22.48% and a return on equity of 10.42%. The business had revenue of $343.76 million during the quarter, compared to the consensus estimate of $336.71 million. During the same period in the previous year, the firm posted $1.05 earnings per share. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. On average, sell-side analysts forecast that CoStar Group Inc will post 9.02 EPS for the current fiscal year.

In other news, CEO Andrew C. Florance sold 24,210 shares of CoStar Group stock in a transaction on Friday, July 26th. The shares were sold at an average price of $628.64, for a total transaction of $15,219,374.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John W. Hill sold 315 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $553.23, for a total transaction of $174,267.45. The disclosure for this sale can be found here. Insiders have sold 46,109 shares of company stock valued at $28,803,346 over the last quarter. Insiders own 2.14% of the company’s stock.

CSGP has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of CoStar Group from a “buy” rating to a “hold” rating in a research note on Monday, June 24th. Needham & Company LLC raised their target price on shares of CoStar Group to $675.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. SunTrust Banks raised their target price on shares of CoStar Group to $650.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods initiated coverage on shares of CoStar Group in a research note on Tuesday, July 9th. They issued an “outperform” rating and a $650.00 target price for the company. Finally, JPMorgan Chase & Co. raised their target price on shares of CoStar Group from $425.00 to $597.00 and gave the company an “underweight” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the stock. CoStar Group currently has a consensus rating of “Buy” and an average price target of $621.60.

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.

Further Reading: What are the Benefits of Index Funds?

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

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