Blue Zone Wealth Advisors LLC Grows Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Blue Zone Wealth Advisors LLC boosted its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 6.9% in the third quarter, Holdings Channel reports. The fund owned 55,304 shares of the technology company’s stock after purchasing an additional 3,575 shares during the quarter. Blue Zone Wealth Advisors LLC’s holdings in CoStar Group were worth $4,172,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CSGP. Concurrent Investment Advisors LLC grew its position in shares of CoStar Group by 4.7% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock valued at $242,000 after acquiring an additional 112 shares during the period. Picton Mahoney Asset Management raised its stake in shares of CoStar Group by 2.9% in the second quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock worth $352,000 after buying an additional 135 shares during the period. Redmond Asset Management LLC raised its stake in shares of CoStar Group by 0.9% in the first quarter. Redmond Asset Management LLC now owns 18,670 shares of the technology company’s stock worth $1,804,000 after buying an additional 169 shares during the period. S.E.E.D. Planning Group LLC lifted its position in shares of CoStar Group by 0.5% during the 2nd quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock valued at $2,688,000 after buying an additional 172 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co grew its stake in shares of CoStar Group by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock valued at $2,780,000 after acquiring an additional 188 shares during the period. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $73.30 on Tuesday. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. The stock’s fifty day moving average is $76.10 and its two-hundred day moving average is $80.80. CoStar Group, Inc. has a 52 week low of $67.35 and a 52 week high of $100.38. The company has a market capitalization of $29.93 billion, a PE ratio of 100.41 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. The company had revenue of $677.80 million for the quarter, compared to the consensus estimate of $677.18 million. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 EPS. As a group, analysts expect that CoStar Group, Inc. will post 0.49 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CSGP. Royal Bank of Canada reiterated an “outperform” rating and issued a $96.00 price target on shares of CoStar Group in a research report on Tuesday, September 10th. The Goldman Sachs Group reduced their target price on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $107.00 price target on shares of CoStar Group in a research note on Tuesday, September 17th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and an average target price of $96.38.

CoStar Group Company 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.