SVB Wealth LLC Has $7.21 Million Position in CoStar Group, Inc. (NASDAQ:CSGP)

SVB Wealth LLC trimmed its position in CoStar Group, Inc. (NASDAQ:CSGP) by 27.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,448 shares of the technology company’s stock after selling 31,586 shares during the period. SVB Wealth LLC’s holdings in CoStar Group were worth $7,205,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. raised its position in shares of CoStar Group by 125.4% during the fourth quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock worth $27,000 after purchasing an additional 173 shares during the period. Quarry LP raised its holdings in CoStar Group by 75.5% during the 1st quarter. Quarry LP now owns 358 shares of the technology company’s stock worth $25,000 after buying an additional 154 shares during the period. Benjamin F. Edwards & Company Inc. bought a new position in CoStar Group in the second quarter valued at approximately $33,000. Resurgent Financial Advisors LLC acquired a new position in shares of CoStar Group in the fourth quarter valued at approximately $30,000. Finally, Pinnacle Bancorp Inc. bought a new stake in shares of CoStar Group during the fourth quarter worth $37,000. Institutional investors own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. BTIG Research began coverage on shares of CoStar Group in a research report on Friday, January 19th. They issued a “neutral” rating on the stock. BMO Capital Markets lowered their price objective on shares of CoStar Group from $84.00 to $79.00 and set a “market perform” rating on the stock in a report on Thursday, February 22nd. Bank of America raised their price target on CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, March 18th. JMP Securities restated a “market outperform” rating and issued a $110.00 price objective on shares of CoStar Group in a research note on Friday, April 12th. Finally, Robert W. Baird raised their price target on CoStar Group from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $100.08.

CoStar Group Stock Performance

CSGP opened at $86.29 on Wednesday. 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, Inc. has a 52-week low of $67.35 and a 52-week high of $100.38. The firm has a market cap of $35.24 billion, a P/E ratio of 93.79, a price-to-earnings-growth ratio of 10.06 and a beta of 0.84. The business’s fifty day moving average is $89.02 and its 200-day moving average is $84.34.

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 analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $640.00 million for the quarter, compared to analysts’ expectations of $634.27 million. CoStar Group had a return on equity of 6.08% and a net margin of 15.26%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 earnings per share. Sell-side analysts expect that CoStar Group, Inc. will post 0.44 EPS for the current fiscal 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.