CoStar Group, Inc. (NASDAQ:CSGP) Position Lowered by Riverbridge Partners LLC

Riverbridge Partners LLC decreased its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 4.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,866,345 shares of the technology company's stock after selling 77,538 shares during the quarter. CoStar Group makes up 2.4% of Riverbridge Partners LLC's investment portfolio, making the stock its 7th largest position. Riverbridge Partners LLC owned 0.46% of CoStar Group worth $147,871,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CSGP. Hopwood Financial Services Inc. purchased a new position in CoStar Group during the 4th quarter valued at $25,000. SBI Securities Co. Ltd. purchased a new position in shares of CoStar Group during the fourth quarter valued at about $30,000. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of CoStar Group by 414.4% during 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 period. Centricity Wealth Management LLC purchased a new position in shares of CoStar Group during the fourth quarter valued at about $40,000. Finally, Private Trust Co. NA increased its position in shares of CoStar Group by 969.5% during the fourth quarter. Private Trust Co. NA now owns 631 shares of the technology company's stock valued at $45,000 after buying an additional 572 shares during the period. Hedge funds and other institutional investors own 96.60% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CSGP shares. 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 Thursday, April 17th. Keefe, Bruyette & Woods upped their target price on CoStar Group from $93.00 to $95.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Wells Fargo & Company upped their price target on CoStar Group from $63.00 to $65.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 30th. Piper Sandler started coverage on CoStar Group in a research note on Friday, February 28th. They issued an "overweight" rating on the stock. Finally, Craig Hallum started coverage on CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $87.69.

CoStar Group Stock Up 0.1%

CSGP stock traded up $0.08 during trading on Friday, hitting $79.65. 4,689,580 shares of the stock traded hands, compared to its average volume of 2,910,643. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $83.68. The firm's 50 day moving average is $77.77 and its two-hundred day moving average is $76.33. The stock has a market cap of $33.60 billion, a price-to-earnings ratio of 274.66, a price-to-earnings-growth ratio of 4.01 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.01 and a quick ratio of 6.01.

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.