Cobblestone Capital Advisors LLC NY Sells 7,123 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Cobblestone Capital Advisors LLC NY lessened its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 63.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 4,176 shares of the technology company’s stock after selling 7,123 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in CoStar Group were worth $310,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Crewe Advisors LLC acquired a new stake in shares of CoStar Group during the first quarter worth approximately $31,000. Riverview Trust Co acquired a new stake in CoStar Group during the 1st quarter valued at $35,000. RiverPark Advisors LLC bought a new position in CoStar Group in the 1st quarter valued at $37,000. Connectus Wealth LLC boosted its stake in CoStar Group by 915.0% in the fourth quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock worth $45,000 after purchasing an additional 467,534 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. bought a new stake in shares of CoStar Group during the second quarter worth $49,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CSGP. Robert W. Baird reduced their price target on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods lowered their price target on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $107.00 price objective on shares of CoStar Group in a report on Wednesday, July 24th. Royal Bank of Canada lowered their price objective on CoStar Group from $109.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Finally, Bank of America dropped their price target on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.38.

CoStar Group Stock Performance

Shares of CSGP stock opened at $77.45 on Friday. 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 52 week low of $67.35 and a 52 week high of $100.38. The company’s 50 day moving average price is $75.39 and its two-hundred day moving average price is $82.45. The company has a market capitalization of $31.74 billion, a P/E ratio of 106.10, a price-to-earnings-growth ratio of 11.44 and a beta of 0.81.

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