Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Decreases Stock Holdings in CoStar Group Inc (NASDAQ:CSGP)

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Mitsubishi UFJ Kokusai Asset Management Co. Ltd. reduced its position in shares of CoStar Group Inc (NASDAQ:CSGP) by 9.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,746 shares of the technology company’s stock after selling 3,619 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned about 0.10% of CoStar Group worth $19,805,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in CoStar Group by 0.8% during the first quarter. BlackRock Inc. now owns 3,086,193 shares of the technology company’s stock worth $1,439,461,000 after buying an additional 24,945 shares during the period. JPMorgan Chase & Co. grew its position in CoStar Group by 42.4% during the second quarter. JPMorgan Chase & Co. now owns 828,447 shares of the technology company’s stock worth $449,788,000 after buying an additional 246,705 shares during the period. American Century Companies Inc. grew its position in CoStar Group by 3.8% during the first quarter. American Century Companies Inc. now owns 499,624 shares of the technology company’s stock worth $233,035,000 after buying an additional 18,206 shares during the period. Geode Capital Management LLC grew its position in CoStar Group by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 335,302 shares of the technology company’s stock worth $113,029,000 after buying an additional 4,060 shares during the period. Finally, Baillie Gifford & Co. grew its position in shares of CoStar Group by 1.6% in the first quarter. Baillie Gifford & Co. now owns 324,889 shares of the technology company’s stock valued at $151,535,000 after purchasing an additional 5,010 shares during the last quarter. 97.77% of the stock is owned by institutional investors and hedge funds.

In other news, VP Matthew Linnington sold 14,651 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.39, for a total value of $9,045,380.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Hill sold 315 shares of the 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. In the last ninety days, insiders have sold 46,109 shares of company stock worth $28,803,346. 2.14% of the stock is currently owned by insiders.

Several analysts have recently commented on the stock. BidaskClub upgraded shares of CoStar Group from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Needham & Company LLC increased their price target on shares of CoStar Group to $675.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Zacks Investment Research lowered shares of CoStar Group from a “buy” rating to a “hold” rating in a research report on Monday, June 24th. Keefe, Bruyette & Woods assumed coverage on shares of CoStar Group in a research report on Tuesday, July 9th. They issued an “outperform” rating and a $650.00 price target on the stock. Finally, Citigroup increased their price target on shares of CoStar Group from $575.00 to $680.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $621.60.

Shares of CSGP traded down $5.38 on Tuesday, hitting $612.34. 12,360 shares of the stock traded hands, compared to its average volume of 222,904. The firm has a market capitalization of $22.19 billion, a P/E ratio of 82.71, a P/E/G ratio of 4.49 and a beta of 1.32. The stock’s 50 day moving average is $605.91 and its two-hundred day moving average is $518.85. CoStar Group Inc has a 1 year low of $315.85 and a 1 year high of $639.41.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, July 23rd. The technology company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.22. The business had revenue of $343.76 million for the quarter, compared to the consensus estimate of $336.71 million. CoStar Group had a net margin of 22.48% and a return on equity of 10.42%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.05 earnings per share. On average, sell-side analysts expect that CoStar Group Inc will post 9.01 earnings per share for the current fiscal year.

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.

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

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