CoStar Group, Inc. $CSGP Stock: Pictet Asset Management Holding SA Cuts Stake

Pictet Asset Management Holding SA decreased its position in CoStar Group, Inc. (NASDAQ:CSGP) by 23.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,129,215 shares of the technology company’s stock after selling 341,609 shares during the period. Pictet Asset Management Holding SA’s holdings in CoStar Group were worth $30,940,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its position in shares of CoStar Group by 1.8% during the third quarter. Parallel Advisors LLC now owns 26,734 shares of the technology company’s stock worth $733,000 after buying an additional 477 shares during the period. Guidance Capital Inc. increased its position in CoStar Group by 9.1% in the 3rd quarter. Guidance Capital Inc. now owns 25,702 shares of the technology company’s stock valued at $704,000 after acquiring an additional 2,136 shares during the period. CenterBook Partners LP increased its position in CoStar Group by 20.2% in the 3rd quarter. CenterBook Partners LP now owns 85,861 shares of the technology company’s stock valued at $2,353,000 after acquiring an additional 14,418 shares during the period. Legacies Wealth LLC acquired a new stake in CoStar Group in the 3rd quarter valued at approximately $44,000. Finally, Commonwealth Equity Services LLC raised its stake in CoStar Group by 9.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 18,914 shares of the technology company’s stock valued at $518,000 after acquiring an additional 1,595 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CSGP has been the subject of a number of analyst reports. Wells Fargo & Company set a $35.00 price target on CoStar Group in a research report on Wednesday, October 28th. Keefe, Bruyette & Woods cut CoStar Group from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $41.00 to $29.00 in a research note on Wednesday, July 29th. KeyCorp set a $33.00 price target on CoStar Group in a report on Monday, August 24th. Robert W. Baird set a $34.00 price objective on shares of CoStar Group and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Finally, BMO Capital Markets restated a “market perform” rating and set a $33.00 price objective (up from $31.00) on shares of CoStar Group in a research note on Monday, August 24th. Ten investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, CoStar Group currently has a consensus rating of “Hold” and an average price target of $39.11.

CoStar Group Price Performance

NASDAQ CSGP opened at $30.33 on Wednesday. CoStar Group, Inc. has a 1 year low of $25.89 and a 1 year high of $70.57. The business’s fifty day moving average is $30.21 and its two-hundred day moving average is $35.80. The stock has a market capitalization of $12.20 billion, a P/E ratio of 68.93, a P/E/G ratio of 0.79 and a beta of 0.79. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.32 and a current ratio of 1.32.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, October 27th. The technology company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. The firm had revenue of $952.00 million for the quarter, compared to the consensus estimate of $945.82 million. CoStar Group had a return on equity of 4.87% and a net margin of 4.87%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 EPS. On average, research analysts forecast that CoStar Group, Inc. will post 1.12 earnings per share for the current fiscal year.

About CoStar Group

CoStar Group, Inc. is a provider of commercial real estate information, analytics and online marketplaces. Its services help real estate professionals, investors, lenders and businesses research properties, evaluate markets and connect with buyers, sellers and tenants. The company’s brands include CoStar, which provides commercial property data and research; LoopNet, a commercial property marketplace; Apartments.com, a rental listings platform; and STR, which supplies benchmarking data for the hospitality industry.