Bessemer Group Inc. Cuts Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Bessemer Group Inc. lowered its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 42.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,741 shares of the technology company's stock after selling 12,570 shares during the period. Bessemer Group Inc.'s holdings in CoStar Group were worth $1,327,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its holdings in CoStar Group by 42.4% in the first quarter. Farther Finance Advisors LLC now owns 1,210 shares of the technology company's stock valued at $96,000 after purchasing an additional 360 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in shares of CoStar Group in the 1st quarter worth about $221,000. Steward Partners Investment Advisory LLC grew its stake in CoStar Group by 497.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,133 shares of the technology company's stock valued at $511,000 after acquiring an additional 5,940 shares during the last quarter. PFG Investments LLC purchased a new position in CoStar Group during the 1st quarter valued at about $234,000. Finally, SBI Securities Co. Ltd. acquired a new position in CoStar Group during the fourth quarter worth about $30,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Trading Up 0.8%

Shares of CSGP stock traded up $0.64 during trading hours on Thursday, hitting $82.06. 1,046,583 shares of the company were exchanged, compared to its average volume of 2,898,392. The firm has a fifty day moving average of $77.95 and a 200 day moving average of $76.56. The company has a quick ratio of 6.01, a current ratio of 6.01 and a debt-to-equity ratio of 0.12. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $83.68. The firm has a market cap of $34.62 billion, a PE ratio of 282.96, a PEG ratio of 4.13 and a beta of 0.89.

Wall Street Analyst Weigh In

Several research firms have recently commented on CSGP. Bank of America initiated coverage on shares of CoStar Group in a research report on Friday, May 30th. They issued a "neutral" rating and a $79.00 price target on the stock. 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. Wells Fargo & Company raised their price target on CoStar Group from $63.00 to $65.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 30th. Keefe, Bruyette & Woods upped their price objective on CoStar Group from $93.00 to $95.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $85.00 price objective on shares of CoStar Group in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, CoStar Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.69.

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.