Teacher Retirement System of Texas Grows Stake in CoStar Group (CSGP)

Teacher Retirement System of Texas increased its position in shares of CoStar Group (NASDAQ:CSGP) by 191.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,499 shares of the technology company’s stock after buying an additional 18,704 shares during the period. Teacher Retirement System of Texas owned 0.08% of CoStar Group worth $10,336,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in CoStar Group by 12.5% during the fourth quarter. BlackRock Inc. now owns 1,794,476 shares of the technology company’s stock worth $532,869,000 after buying an additional 199,267 shares in the last quarter. Franklin Resources Inc. boosted its holdings in CoStar Group by 11.8% during the fourth quarter. Franklin Resources Inc. now owns 793,349 shares of the technology company’s stock worth $235,579,000 after buying an additional 83,605 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in CoStar Group by 2.8% during the fourth quarter. Bank of New York Mellon Corp now owns 316,800 shares of the technology company’s stock worth $94,073,000 after buying an additional 8,515 shares in the last quarter. Geode Capital Management LLC boosted its holdings in CoStar Group by 13.7% during the fourth quarter. Geode Capital Management LLC now owns 315,385 shares of the technology company’s stock worth $93,605,000 after buying an additional 37,973 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in CoStar Group by 43.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 308,180 shares of the technology company’s stock worth $91,514,000 after buying an additional 92,864 shares in the last quarter. 96.77% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group opened at $384.71 on Tuesday, according to MarketBeat. The firm has a market cap of $13.88 billion, a price-to-earnings ratio of 99.41, a P/E/G ratio of 3.43 and a beta of 1.53. CoStar Group has a 52-week low of $242.76 and a 52-week high of $396.59.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Monday, April 23rd. The technology company reported $1.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.28. The business had revenue of $274.00 million for the quarter, compared to the consensus estimate of $270.56 million. CoStar Group had a net margin of 15.09% and a return on equity of 6.97%. The company’s revenue was up 20.7% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share. equities research analysts predict that CoStar Group will post 6.63 EPS for the current year.

A number of analysts recently issued reports on CSGP shares. Zacks Investment Research raised shares of CoStar Group from a “hold” rating to a “buy” rating and set a $375.00 price target on the stock in a report on Thursday, February 8th. BidaskClub downgraded shares of CoStar Group from a “strong-buy” rating to a “buy” rating in a report on Friday. Citigroup reissued a “buy” rating and set a $425.00 price target (up from $320.00) on shares of CoStar Group in a report on Tuesday, January 23rd. B. Riley increased their price target on shares of CoStar Group to $400.00 in a report on Tuesday, February 20th. Finally, Needham & Company LLC increased their price target on shares of CoStar Group to $430.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $388.45.

In other news, VP Matthew Linnington sold 7,921 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $348.23, for a total value of $2,758,329.83. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Scott T. Wheeler sold 1,250 shares of the firm’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $353.69, for a total transaction of $442,112.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,863 shares of company stock worth $23,271,202. Insiders own 2.47% of the company’s stock.

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.

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

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