Sequoia Financial Advisors LLC Raises Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Sequoia Financial Advisors LLC grew its position in CoStar Group, Inc. (NASDAQ:CSGP) by 143.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,519 shares of the technology company’s stock after buying an additional 7,373 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in CoStar Group were worth $1,094,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of CoStar Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 34,757,886 shares of the technology company’s stock worth $2,315,223,000 after acquiring an additional 204,955 shares in the last quarter. BlackRock Inc. raised its position in shares of CoStar Group by 0.9% in the 1st quarter. BlackRock Inc. now owns 31,917,467 shares of the technology company’s stock worth $2,197,518,000 after acquiring an additional 286,782 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of CoStar Group by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 19,808,306 shares of the technology company’s stock worth $1,523,061,000 after acquiring an additional 761,383 shares in the last quarter. Bamco Inc. NY raised its position in shares of CoStar Group by 0.5% in the 3rd quarter. Bamco Inc. NY now owns 19,196,502 shares of the technology company’s stock worth $1,476,019,000 after acquiring an additional 91,399 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of CoStar Group by 5.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,967,040 shares of the technology company’s stock worth $920,146,000 after acquiring an additional 596,595 shares in the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CSGP shares. BMO Capital Markets reduced their price target on CoStar Group from $84.00 to $79.00 and set a “market perform” rating for the company in a research report on Thursday, February 22nd. Bank of America upped their target price on CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Keefe, Bruyette & Woods upped their target price on CoStar Group from $96.00 to $109.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Jefferies Financial Group upped their target price on CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday. Finally, Royal Bank of Canada upped their target price on CoStar Group from $95.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday, March 25th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $100.08.

CoStar Group Stock Down 2.6 %

Shares of CSGP opened at $90.34 on Monday. CoStar Group, Inc. has a 52 week low of $67.35 and a 52 week high of $100.38. The company has a quick ratio of 12.01, a current ratio of 12.01 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $36.90 billion, a price-to-earnings ratio of 98.20, a PEG ratio of 10.38 and a beta of 0.84. The stock’s 50-day moving average price is $88.86 and its 200-day moving average price is $84.19.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. CoStar Group had a return on equity of 6.08% and a net margin of 15.26%. The firm had revenue of $640.00 million for the quarter, compared to the consensus estimate of $634.27 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. The company’s revenue was up 11.7% compared to the same quarter last year. On average, sell-side analysts predict that CoStar Group, Inc. will post 0.44 EPS for the current year.

CoStar Group Company 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.