CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by First Foundation Advisors

Key Points

• First Foundation Advisors reduced its stake in CoStar Group by 40.6%, holding 54,092 shares valued at $4.29 million after selling 36,924 shares in the first quarter.
• Analysts have increased their price targets for CoStar Group, with a consensus target of $93.25 and several firms rating the stock as a "buy" or "strong buy."
• CoStar Group recently reported earnings of $0.17 EPS, exceeding analyst expectations, with revenue growth of 15.2% year-over-year.

First Foundation Advisors trimmed its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 40.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,092 shares of the technology company's stock after selling 36,924 shares during the period. First Foundation Advisors' holdings in CoStar Group were worth $4,286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wayfinding Financial LLC acquired a new stake in shares of CoStar Group during the first quarter worth about $29,000. Cullen Frost Bankers Inc. increased its position in CoStar Group by 137.4% during the first quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock worth $32,000 after buying an additional 235 shares during the period. Pin Oak Investment Advisors Inc. acquired a new position in CoStar Group during the first quarter worth approximately $33,000. Annis Gardner Whiting Capital Advisors LLC lifted its stake in CoStar Group by 414.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock valued at $36,000 after buying an additional 402 shares during the last quarter. Finally, Close Asset Management Ltd acquired a new stake in shares of CoStar Group in the first quarter valued at approximately $41,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Needham & Company LLC upped their price target on shares of CoStar Group from $98.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Citigroup raised their price target on CoStar Group from $91.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Stephens raised CoStar Group to a "strong-buy" rating and set a $105.00 price objective for the company in a research report on Monday, June 16th. JMP Securities reissued a "market outperform" rating and issued a $85.00 target price on shares of CoStar Group in a report on Wednesday, April 30th. Finally, BMO Capital Markets lifted their price objective on shares of CoStar Group from $82.00 to $89.00 and gave the company a "market perform" rating in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $93.25.

CoStar Group Stock Up 0.4%

Shares of NASDAQ CSGP opened at $93.36 on Tuesday. The firm's 50-day moving average is $81.09 and its two-hundred day moving average is $78.42. The company has a market capitalization of $39.55 billion, a PE ratio of 373.44, a price-to-earnings-growth ratio of 4.53 and a beta of 0.89. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $93.75. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.83 and a quick ratio of 5.83.

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 analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

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.

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