Principal Financial Group Inc. Lowers Position in CoStar Group, Inc. (NASDAQ:CSGP)

Principal Financial Group Inc. lessened its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 0.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 19,007,873 shares of the technology company's stock after selling 178,402 shares during the period. CoStar Group accounts for about 0.8% of Principal Financial Group Inc.'s investment portfolio, making the stock its 22nd biggest holding. Principal Financial Group Inc. owned approximately 4.63% of CoStar Group worth $1,505,994,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Colonial Trust Co SC grew its stake in CoStar Group by 27.4% during the fourth quarter. Colonial Trust Co SC now owns 674 shares of the technology company's stock valued at $48,000 after acquiring an additional 145 shares in the last quarter. DoubleLine ETF Adviser LP boosted its holdings in shares of CoStar Group by 0.5% during the 4th quarter. DoubleLine ETF Adviser LP now owns 29,398 shares of the technology company's stock valued at $2,105,000 after purchasing an additional 146 shares during the last quarter. Aurora Investment Managers LLC. grew its position in shares of CoStar Group by 0.7% during the first quarter. Aurora Investment Managers LLC. now owns 22,357 shares of the technology company's stock valued at $1,771,000 after purchasing an additional 164 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of CoStar Group by 5.0% in the first quarter. First Horizon Advisors Inc. now owns 3,746 shares of the technology company's stock worth $297,000 after purchasing an additional 179 shares during the last quarter. Finally, Moran Wealth Management LLC lifted its position in shares of CoStar Group by 2.2% in the fourth quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company's stock worth $588,000 after buying an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

CoStar Group Trading Up 0.8%

Shares of NASDAQ CSGP traded up $0.64 during midday trading on Friday, hitting $82.06. The company's stock had a trading volume of 1,046,583 shares, compared to its average volume of 2,905,772. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $83.68. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.12. The firm has a market cap of $34.62 billion, a P/E ratio of 282.96, a price-to-earnings-growth ratio of 4.10 and a beta of 0.89. The business's 50 day moving average is $77.93 and its two-hundred day moving average is $76.60.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CSGP shares. Needham & Company LLC raised their price target on CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. JMP Securities reiterated a "market outperform" rating and set a $85.00 target price on shares of CoStar Group in a research report on Wednesday, April 30th. Stephens upgraded shares of CoStar Group to a "strong-buy" rating and set a $105.00 price target on the stock in a research report on Monday, June 16th. Wells Fargo & Company increased their price objective on shares of CoStar Group from $63.00 to $65.00 and gave the company an "underweight" rating in a research report on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of CoStar Group from $93.00 to $95.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $87.69.

CoStar Group 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.