Riverbridge Partners LLC reduced its holdings in CoStar Group, Inc. (NASDAQ:CSGP – Free Report) by 8.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,004,691 shares of the technology company’s stock after selling 86,844 shares during the quarter. Riverbridge Partners LLC’s holdings in CoStar Group were worth $27,529,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in CSGP. BlackRock Inc. purchased a new position in CoStar Group during the second quarter worth about $957,612,000. Principal Financial Group Inc. boosted its stake in CoStar Group by 0.7% in the 1st quarter. Principal Financial Group Inc. now owns 17,696,192 shares of the technology company’s stock worth $713,866,000 after buying an additional 130,118 shares during the last quarter. Bamco Inc. NY purchased a new stake in CoStar Group in the 2nd quarter valued at about $612,470,000. Janus Henderson Group PLC grew its holdings in CoStar Group by 3.4% in the 1st quarter. Janus Henderson Group PLC now owns 7,724,152 shares of the technology company’s stock valued at $311,586,000 after buying an additional 250,772 shares during the period. Finally, Jupiter Topco LLC purchased a new stake in CoStar Group in the 2nd quarter valued at about $221,826,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the stock. BMO Capital Markets reaffirmed 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. BTIG Research decreased their target price on shares of CoStar Group from $42.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, October 28th. JPMorgan Chase & Co. lowered their target price on shares of CoStar Group from $52.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, October 28th. William Blair downgraded shares of CoStar Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings raised shares of CoStar Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, October 29th. Ten analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $39.11.
View Our Latest Stock Report on CoStar Group
CoStar Group Price Performance
CSGP stock opened at $30.33 on Wednesday. The stock has a 50-day moving average price of $30.21 and a two-hundred day moving average price of $35.80. CoStar Group, Inc. has a 12-month low of $25.89 and a 12-month high of $70.57. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.12. The company has a market cap of $12.20 billion, a PE ratio of 68.93, a price-to-earnings-growth ratio of 0.79 and a beta of 0.79.
CoStar Group (NASDAQ:CSGP – Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The technology company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. The company had revenue of $952.00 million during the quarter, compared to analyst estimates of $945.82 million. CoStar Group had a return on equity of 4.87% and a net margin of 4.87%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 earnings per share. As a group, research analysts predict that CoStar Group, Inc. will post 1.12 EPS for the current 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.
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