Alps Advisors Inc. Decreases Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Alps Advisors Inc. lessened its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 31.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,479 shares of the technology company's stock after selling 4,764 shares during the quarter. Alps Advisors Inc.'s holdings in CoStar Group were worth $830,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CSGP. Jones Financial Companies Lllp lifted its holdings in shares of CoStar Group by 51.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,321 shares of the technology company's stock worth $95,000 after acquiring an additional 451 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in shares of CoStar Group by 15.8% during the 4th quarter. Proficio Capital Partners LLC now owns 4,192 shares of the technology company's stock worth $300,000 after acquiring an additional 573 shares during the last quarter. Independent Advisor Alliance purchased a new position in CoStar Group during the 4th quarter valued at $240,000. Sequoia Financial Advisors LLC grew its position in CoStar Group by 31.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 9,763 shares of the technology company's stock valued at $699,000 after acquiring an additional 2,328 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in CoStar Group by 723.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,717 shares of the technology company's stock valued at $195,000 after acquiring an additional 2,387 shares during the last quarter. Institutional investors own 96.60% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CSGP shares. Stephens upgraded CoStar Group to a "strong-buy" rating and set a $105.00 target price for the company in a research report on Monday, June 16th. JMP Securities reaffirmed a "market outperform" rating and issued a $85.00 price target on shares of CoStar Group in a research note on Wednesday, April 30th. Wells Fargo & Company reaffirmed an "underweight" rating and issued a $70.00 price target (up previously from $65.00) on shares of CoStar Group in a research note on Wednesday. Needham & Company LLC raised their price target on shares of CoStar Group from $87.00 to $98.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $83.00 target price on shares of CoStar Group in a report on Tuesday, June 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $88.46.

CoStar Group Stock Down 0.2%

Shares of NASDAQ:CSGP traded down $0.19 during trading on Thursday, reaching $84.95. The stock had a trading volume of 2,483,582 shares, compared to its average volume of 2,897,453. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $86.55. The company has a market capitalization of $35.84 billion, a P/E ratio of 292.93, a PEG ratio of 4.29 and a beta of 0.89. 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's 50-day simple moving average is $79.20 and its 200 day simple moving average is $77.44.

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.