CoStar Group, Inc. $CSGP Stock Position Cut by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 0.1% during the third quarter, Holdings Channel reports. The institutional investor owned 18,623,370 shares of the technology company’s stock after selling 23,279 shares during the period. CoStar Group makes up about 0.8% of Principal Financial Group Inc.’s holdings, making the stock its 23rd largest position. Principal Financial Group Inc.’s holdings in CoStar Group were worth $1,571,258,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. NewSquare Capital LLC raised its holdings in CoStar Group by 35.6% during the second quarter. NewSquare Capital LLC now owns 411 shares of the technology company’s stock worth $33,000 after purchasing an additional 108 shares in the last quarter. Emerald Advisers LLC increased its position in shares of CoStar Group by 1.9% during the 2nd quarter. Emerald Advisers LLC now owns 5,763 shares of the technology company’s stock valued at $463,000 after purchasing an additional 110 shares during the period. Empirical Finance LLC raised its stake in shares of CoStar Group by 1.4% in the 2nd quarter. Empirical Finance LLC now owns 8,376 shares of the technology company’s stock worth $673,000 after buying an additional 114 shares in the last quarter. Wallace Advisory Group LLC raised its stake in shares of CoStar Group by 2.5% in the 2nd quarter. Wallace Advisory Group LLC now owns 5,201 shares of the technology company’s stock worth $412,000 after buying an additional 126 shares in the last quarter. Finally, STF Management LP boosted its stake in CoStar Group by 2.1% during the second quarter. STF Management LP now owns 6,269 shares of the technology company’s stock valued at $504,000 after buying an additional 128 shares in the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. BMO Capital Markets dropped their price target on shares of CoStar Group from $77.00 to $72.00 and set a “market perform” rating on the stock in a research report on Thursday, January 8th. The Goldman Sachs Group reiterated a “buy” rating and issued a $84.00 target price on shares of CoStar Group in a report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft set a $68.00 target price on shares of CoStar Group in a research note on Thursday, January 8th. Raymond James Financial set a $74.00 price target on shares of CoStar Group in a research report on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of CoStar Group in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.39.

CoStar Group Trading Down 0.7%

NASDAQ CSGP opened at $61.50 on Friday. The firm’s 50 day moving average price is $65.75 and its two-hundred day moving average price is $76.83. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.12 and a current ratio of 3.12. CoStar Group, Inc. has a twelve month low of $57.01 and a twelve month high of $97.43. The stock has a market cap of $26.06 billion, a price-to-earnings ratio of 1,230.00, a PEG ratio of 1.62 and a beta of 0.84.

CoStar Group announced that its Board of Directors has initiated a stock repurchase program on Wednesday, January 7th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to purchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

CoStar Group Profile

CoStar Group, Inc is a provider of information, analytics and online marketplaces for the commercial real estate industry. The company gathers property-level data, builds market analytics and supplies research tools used by brokers, owners, lenders, investors and other real estate professionals to evaluate markets, track inventory and manage listings. CoStar’s offerings are delivered primarily through subscription-based platforms that combine proprietary databases, mapping and workflow applications to support decision-making across the property life cycle.

In addition to its core CoStar research service, the company operates prominent online listing and marketing platforms that connect buyers, sellers, tenants and brokers.