Valeo Financial Advisors LLC Takes $212,000 Position in CoStar Group, Inc. (NASDAQ:CSGP)

Valeo Financial Advisors LLC acquired a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, Holdings Channel reports. The fund acquired 2,421 shares of the technology company’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of CoStar Group in the fourth quarter worth about $320,866,000. Mackenzie Financial Corp grew its stake in shares of CoStar Group by 343.8% in the first quarter. Mackenzie Financial Corp now owns 2,913,586 shares of the technology company’s stock worth $194,074,000 after purchasing an additional 2,257,140 shares during the last quarter. Capital International Investors bought a new stake in shares of CoStar Group in the first quarter worth about $101,893,000. Renaissance Technologies LLC bought a new stake in shares of CoStar Group in the first quarter worth about $94,633,000. Finally, Wellington Management Group LLP grew its stake in shares of CoStar Group by 51.3% in the first quarter. Wellington Management Group LLP now owns 3,477,341 shares of the technology company’s stock worth $231,626,000 after purchasing an additional 1,178,764 shares during the last quarter. 96.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CSGP has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on CoStar Group from $96.00 to $109.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Royal Bank of Canada raised their price objective on shares of CoStar Group from $95.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. Bank of America raised their price objective on shares of CoStar Group from $97.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Needham & Company LLC lowered their price objective on shares of CoStar Group from $105.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Finally, The Goldman Sachs Group raised their price objective on shares of CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, CoStar Group presently has a consensus rating of “Moderate Buy” and an average target price of $100.08.

CoStar Group Price Performance

CSGP stock opened at $86.29 on Wednesday. The firm has a 50 day moving average price of $89.02 and a 200-day moving average price of $84.34. CoStar Group, Inc. has a 52-week low of $67.35 and a 52-week high of $100.38. The firm has a market capitalization of $35.24 billion, a price-to-earnings ratio of 93.79, a PEG ratio of 10.06 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.01 and a current ratio of 12.01.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. CoStar Group had a net margin of 15.26% and a return on equity of 6.08%. The firm had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.27 million. During the same period last year, the business earned $0.35 earnings per share. The business’s revenue was up 11.7% on a year-over-year basis. Equities research analysts forecast that CoStar Group, Inc. will post 0.44 EPS for the current fiscal year.

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.