Envestnet Asset Management Inc. cut its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,785,263 shares of the technology company's stock after selling 26,550 shares during the period. Envestnet Asset Management Inc. owned approximately 0.44% of CoStar Group worth $141,446,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Bamco Inc. NY increased its position in shares of CoStar Group by 2.2% during the fourth quarter. Bamco Inc. NY now owns 19,203,564 shares of the technology company's stock worth $1,374,783,000 after acquiring an additional 418,128 shares in the last quarter. Capital International Investors increased its position in shares of CoStar Group by 44.9% during the fourth quarter. Capital International Investors now owns 14,032,363 shares of the technology company's stock worth $1,004,578,000 after acquiring an additional 4,345,267 shares in the last quarter. Geode Capital Management LLC increased its position in shares of CoStar Group by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 11,475,755 shares of the technology company's stock worth $819,678,000 after acquiring an additional 166,769 shares in the last quarter. Akre Capital Management LLC increased its position in shares of CoStar Group by 4.3% during the fourth quarter. Akre Capital Management LLC now owns 9,313,880 shares of the technology company's stock worth $666,781,000 after acquiring an additional 379,787 shares in the last quarter. Finally, Polen Capital Management LLC bought a new stake in shares of CoStar Group during the fourth quarter worth about $465,134,000. 96.60% of the stock is owned by institutional investors.
CoStar Group Stock Performance
Shares of CSGP stock opened at $84.50 on Thursday. 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 stock has a market capitalization of $35.65 billion, a P/E ratio of 291.38, a PEG ratio of 4.17 and a beta of 0.89. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $84.55. The firm's 50 day moving average is $78.12 and its 200 day moving average is $76.92.
Analysts Set New Price Targets
A number of brokerages have issued reports on CSGP. Needham & Company LLC upped their price objective on shares of CoStar Group from $87.00 to $98.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Keefe, Bruyette & Woods upped their price objective on shares of CoStar Group from $93.00 to $95.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. JMP Securities reaffirmed a "market outperform" rating and issued a $85.00 price objective on shares of CoStar Group in a research report on Wednesday, April 30th. Stephens raised shares of 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. Finally, Wells Fargo & Company upped their price objective on shares of CoStar Group from $63.00 to $65.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $87.69.
Read Our Latest Stock Report on CSGP
CoStar Group Profile
(
Free Report)
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.
See Also
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