NewEdge Wealth LLC Trims Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

NewEdge Wealth LLC lowered its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 48.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,247 shares of the technology company’s stock after selling 3,951 shares during the quarter. NewEdge Wealth LLC’s holdings in CoStar Group were worth $371,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CSGP. KB Financial Partners LLC increased its stake in shares of CoStar Group by 17.9% in the 3rd quarter. KB Financial Partners LLC now owns 818 shares of the technology company’s stock worth $63,000 after acquiring an additional 124 shares in the last quarter. Keybank National Association OH lifted its holdings in shares of CoStar Group by 0.6% during the third quarter. Keybank National Association OH now owns 21,159 shares of the technology company’s stock valued at $1,627,000 after purchasing an additional 133 shares in the last quarter. HBK Sorce Advisory LLC boosted its position in shares of CoStar Group by 2.8% during the third quarter. HBK Sorce Advisory LLC now owns 4,978 shares of the technology company’s stock valued at $383,000 after buying an additional 135 shares during the last quarter. Creative Planning boosted its position in shares of CoStar Group by 0.8% during the third quarter. Creative Planning now owns 18,061 shares of the technology company’s stock valued at $1,389,000 after buying an additional 138 shares during the last quarter. Finally, Certuity LLC increased its holdings in CoStar Group by 4.8% in the 3rd quarter. Certuity LLC now owns 3,257 shares of the technology company’s stock worth $250,000 after buying an additional 149 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

Analysts Set New Price Targets

CSGP has been the topic of several research analyst reports. Citigroup upped their target price on shares of CoStar Group from $90.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Needham & Company LLC dropped their target price on shares of CoStar Group from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Robert W. Baird boosted their target price on shares of CoStar Group from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Monday, March 18th. BMO Capital Markets lowered their price target on CoStar Group from $84.00 to $79.00 and set a “market perform” rating on the stock in a report on Thursday, February 22nd. Finally, Royal Bank of Canada lifted their price objective on CoStar Group from $95.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $100.08.

CoStar Group Stock Performance

Shares of CSGP opened at $85.46 on Thursday. The business has a 50-day simple moving average of $89.03 and a two-hundred day simple moving average of $84.34. The company has a quick ratio of 12.01, a current ratio of 12.01 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 52 week low of $67.35 and a 52 week high of $100.38. The stock has a market cap of $34.90 billion, a price-to-earnings ratio of 92.89, a PEG ratio of 9.92 and a beta of 0.84.

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, topping 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 company had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.27 million. During the same period in the prior year, the firm posted $0.35 EPS. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, analysts expect that CoStar Group, Inc. will post 0.44 EPS for the current year.

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.