Universal Beteiligungs und Servicegesellschaft mbH Trims Position in CoStar Group, Inc. (NASDAQ:CSGP)

Universal Beteiligungs und Servicegesellschaft mbH trimmed its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 2.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 258,477 shares of the technology company's stock after selling 7,592 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.06% of CoStar Group worth $20,479,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of CoStar Group in the fourth quarter worth approximately $390,755,000. Capital International Investors boosted its position in shares of CoStar Group by 44.9% in the 4th quarter. Capital International Investors now owns 14,032,363 shares of the technology company's stock worth $1,004,578,000 after purchasing an additional 4,345,267 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in CoStar Group by 24.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,415,895 shares of the technology company's stock worth $459,314,000 after acquiring an additional 1,267,263 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of CoStar Group by 2,181.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,129,307 shares of the technology company's stock valued at $80,847,000 after buying an additional 1,079,815 shares during the period. Finally, ShawSpring Partners LLC acquired a new position in CoStar Group in the 4th quarter worth about $65,133,000. 96.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CSGP. JPMorgan Chase & Co. lifted their price objective on CoStar Group from $87.00 to $101.00 and gave the stock an "overweight" rating in a research report on Wednesday. Wells Fargo & Company reaffirmed an "underweight" rating and set a $70.00 price target (up from $65.00) on shares of CoStar Group in a report on Wednesday, July 16th. Keefe, Bruyette & Woods boosted their target price on CoStar Group from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Robert W. Baird boosted their target price on CoStar Group from $100.00 to $105.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, Royal Bank Of Canada boosted their target price on CoStar Group from $83.00 to $91.00 and gave the company a "sector perform" rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $93.25.

CoStar Group Price Performance

NASDAQ:CSGP traded up $0.01 during trading hours on Friday, reaching $92.97. 2,527,522 shares of the company traded hands, compared to its average volume of 3,215,557. The firm's 50-day moving average is $80.44 and its 200-day moving average is $78.00. The stock has a market cap of $39.22 billion, a P/E ratio of 371.88, a P/E/G ratio of 4.58 and a beta of 0.89. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.83 and a quick ratio of 6.01. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $93.75.

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

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.