Allspring Global Investments Holdings LLC Raises Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Allspring Global Investments Holdings LLC boosted its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 25.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 451,560 shares of the technology company's stock after acquiring an additional 92,119 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.11% of CoStar Group worth $34,066,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Swedbank AB bought a new position in shares of CoStar Group during the first quarter worth about $4,223,000. SG Americas Securities LLC raised its holdings in CoStar Group by 390.8% during the 1st quarter. SG Americas Securities LLC now owns 99,800 shares of the technology company's stock worth $9,641,000 after purchasing an additional 79,467 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of CoStar Group by 1.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,675 shares of the technology company's stock worth $100,046,000 after purchasing an additional 17,658 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of CoStar Group by 5.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 477,691 shares of the technology company's stock valued at $46,145,000 after purchasing an additional 23,987 shares during the last quarter. Finally, Twin Tree Management LP acquired a new stake in shares of CoStar Group during the first quarter worth $802,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Stock Up 1.5 %

CSGP stock traded up $1.09 during mid-day trading on Thursday, reaching $73.91. 7,867,046 shares of the company traded hands, compared to its average volume of 2,339,765. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. The firm's 50 day moving average price is $76.46 and its 200 day moving average price is $79.20. The stock has a market cap of $30.29 billion, a price-to-earnings ratio of 167.98 and a beta of 0.81. CoStar Group, Inc. has a fifty-two week low of $67.35 and a fifty-two week high of $100.38.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a return on equity of 3.54% and a net margin of 6.57%. CoStar Group's revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 earnings per share. As a group, equities research analysts predict that CoStar Group, Inc. will post 0.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CSGP shares. Royal Bank of Canada cut shares of CoStar Group from an "outperform" rating to a "sector perform" rating and cut their price target for the company from $96.00 to $83.00 in a research report on Wednesday. Keefe, Bruyette & Woods cut their target price on CoStar Group from $109.00 to $100.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 17th. JPMorgan Chase & Co. decreased their target price on CoStar Group from $108.00 to $99.00 and set an "overweight" rating for the company in a research note on Wednesday. Bank of America dropped their price target on CoStar Group from $111.00 to $89.00 and set a "buy" rating on the stock in a research note on Monday, July 22nd. Finally, Robert W. Baird reduced their price objective on shares of CoStar Group from $105.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, CoStar Group has a consensus rating of "Moderate Buy" and an average price target of $92.62.

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.