CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Boomfish Wealth Group LLC

Boomfish Wealth Group LLC reduced its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,021 shares of the technology company’s stock after selling 290 shares during the quarter. Boomfish Wealth Group LLC’s holdings in CoStar Group were worth $2,189,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Virtu Financial LLC acquired a new stake in CoStar Group during the fourth quarter worth about $330,000. SageView Advisory Group LLC acquired a new stake in shares of CoStar Group during the 4th quarter worth approximately $394,000. ICA Group Wealth Management LLC purchased a new stake in shares of CoStar Group during the 4th quarter valued at approximately $94,000. PNC Financial Services Group Inc. lifted its holdings in CoStar Group by 14.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 94,310 shares of the technology company’s stock valued at $8,242,000 after acquiring an additional 11,858 shares during the last quarter. Finally, HighPoint Advisor Group LLC purchased a new position in CoStar Group in the fourth quarter worth approximately $340,000. 96.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CSGP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Keefe, Bruyette & Woods decreased their target price on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. StockNews.com upgraded shares of CoStar Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Royal Bank of Canada restated an “outperform” rating and issued a $96.00 price objective on shares of CoStar Group in a report on Tuesday, September 10th. Finally, Bank of America dropped their target price on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.38.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $77.34 on Tuesday. The business has a 50-day simple moving average of $75.94 and a 200-day simple moving average of $79.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. CoStar Group, Inc. has a one year low of $67.35 and a one year high of $100.38. The company has a market cap of $31.70 billion, a PE ratio of 145.93 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.09 by $0.06. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The company had revenue of $677.80 million during the quarter, compared to analysts’ expectations of $677.18 million. During the same quarter in the previous year, the business posted $0.27 EPS. The firm’s revenue was up 11.9% on a year-over-year basis. On average, equities research analysts forecast that CoStar Group, Inc. will post 0.49 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.