AE Wealth Management LLC Reduces Position in CoStar Group, Inc. (NASDAQ:CSGP)

Key Points

• AE Wealth Management LLC reduced its stake in CoStar Group by 16.1%, owning 31,570 shares after selling 6,038 during the first quarter, valued at $2.5 million.
• CoStar Group's recent earnings report showed a net profit margin of 3.57% and revenue of $781.3 million, exceeding analyst expectations.
• Research analysts have a consensus rating of "Moderate Buy" for CoStar Group, with an average price target of $93.25, amidst various adjustments to price objectives from several firms.

AE Wealth Management LLC cut its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 16.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,570 shares of the technology company's stock after selling 6,038 shares during the period. AE Wealth Management LLC's holdings in CoStar Group were worth $2,501,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CSGP. Teacher Retirement System of Texas boosted its stake in shares of CoStar Group by 40.2% during the 4th quarter. Teacher Retirement System of Texas now owns 3,836 shares of the technology company's stock worth $275,000 after purchasing an additional 1,100 shares during the period. American Century Companies Inc. boosted its stake in shares of CoStar Group by 3.4% during the 4th quarter. American Century Companies Inc. now owns 61,350 shares of the technology company's stock worth $4,392,000 after purchasing an additional 2,041 shares during the period. LPL Financial LLC boosted its stake in shares of CoStar Group by 214.5% during the 4th quarter. LPL Financial LLC now owns 432,769 shares of the technology company's stock worth $30,982,000 after purchasing an additional 295,163 shares during the period. EntryPoint Capital LLC purchased a new position in shares of CoStar Group during the 4th quarter worth about $327,000. Finally, Korea Investment CORP boosted its stake in shares of CoStar Group by 26.2% during the 4th quarter. Korea Investment CORP now owns 279,810 shares of the technology company's stock worth $20,032,000 after purchasing an additional 58,106 shares during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Trading Up 0.0%

NASDAQ:CSGP opened at $92.97 on Friday. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $93.75. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.01 and a current ratio of 5.83. The firm has a market cap of $39.39 billion, a P/E ratio of 371.88, a P/E/G ratio of 4.24 and a beta of 0.89. The firm has a 50-day simple moving average of $80.76 and a 200-day simple moving average of $78.16.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. The firm had revenue of $781.30 million during the quarter, compared to analyst estimates of $772.06 million. CoStar Group had a net margin of 3.57% and a return on equity of 2.88%. CoStar Group's revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.15 EPS. Equities analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

Analyst Ratings Changes

CSGP has been the subject of several research reports. William Blair reissued an "outperform" rating on shares of CoStar Group in a research report on Wednesday. Keefe, Bruyette & Woods boosted their price objective on shares of CoStar Group from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Stephens raised shares of CoStar Group to a "strong-buy" rating and set a $105.00 price objective for the company in a research report on Monday, June 16th. Citigroup boosted their price objective on shares of CoStar Group from $91.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday. Finally, BMO Capital Markets boosted their price objective on shares of CoStar Group from $82.00 to $89.00 and gave the company a "market perform" rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, CoStar Group has an average rating of "Moderate Buy" and an average price target of $93.25.

About CoStar Group

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.

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