Envestnet Asset Management Inc. Trims Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Envestnet Asset Management Inc. trimmed its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 1.5% during the 1st quarter, according to its most recent 13F filing 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Hopwood Financial Services Inc. purchased a new stake in shares of CoStar Group during the 4th quarter worth approximately $25,000. Wayfinding Financial LLC purchased a new stake in shares of CoStar Group during the 1st quarter worth approximately $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of CoStar Group during the 4th quarter worth approximately $30,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of CoStar Group by 414.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock worth $36,000 after acquiring an additional 402 shares in the last quarter. Finally, Colonial Trust Co SC raised its holdings in shares of CoStar Group by 27.4% during the 4th quarter. Colonial Trust Co SC now owns 674 shares of the technology company's stock worth $48,000 after acquiring an additional 145 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Stock Down 0.7%

CSGP stock traded down $0.62 during trading on Friday, reaching $85.43. 2,361,767 shares of the company traded hands, compared to its average volume of 2,902,368. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $86.14. The business has a 50 day simple moving average of $78.46 and a 200 day simple moving average of $77.12. The company has a market capitalization of $36.04 billion, a price-to-earnings ratio of 294.59, a price-to-earnings-growth ratio of 4.30 and a beta of 0.89. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.01 and a current ratio of 6.01.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Needham & Company LLC upped their price objective on CoStar Group from $87.00 to $98.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Keefe, Bruyette & Woods increased their price target on CoStar Group from $93.00 to $95.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Stephens upgraded CoStar Group to a "strong-buy" rating and set a $105.00 price target on the stock in a report on Monday, June 16th. 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. Finally, Bank of America initiated coverage on CoStar Group in a research report on Friday, May 30th. They issued a "neutral" rating and a $79.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, 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.