B. Riley Wealth Advisors Inc. Sells 1,673 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

B. Riley Wealth Advisors Inc. lessened its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 32.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,414 shares of the technology company’s stock after selling 1,673 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in CoStar Group were worth $298,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in CoStar Group during the 4th quarter valued at approximately $406,934,000. Brown Advisory Inc. raised its stake in CoStar Group by 10.1% during the 4th quarter. Brown Advisory Inc. now owns 4,144,721 shares of the technology company’s stock valued at $362,207,000 after purchasing an additional 380,859 shares during the period. Capital International Investors raised its stake in CoStar Group by 32.2% during the 4th quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock valued at $352,759,000 after purchasing an additional 982,837 shares during the period. Wellington Management Group LLP grew its holdings in CoStar Group by 22.7% during the 3rd quarter. Wellington Management Group LLP now owns 3,580,549 shares of the technology company’s stock valued at $275,308,000 after buying an additional 662,592 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in CoStar Group by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,458,251 shares of the technology company’s stock valued at $214,827,000 after buying an additional 71,891 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Needham & Company LLC raised their price target on CoStar Group from $90.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. BMO Capital Markets raised their price target on CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a report on Thursday, April 25th. Royal Bank of Canada restated an “outperform” rating and set a $109.00 price target on shares of CoStar Group in a report on Friday, June 7th. William Blair restated an “outperform” rating on shares of CoStar Group in a report on Wednesday, April 24th. Finally, Jefferies Financial Group raised their price target on CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.46.

CoStar Group Price Performance

CSGP opened at $72.85 on Thursday. The business has a fifty day moving average of $83.43 and a 200 day moving average of $85.79. CoStar Group, Inc. has a 52-week low of $67.35 and a 52-week high of $100.38. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 0.13. The stock has a market cap of $29.75 billion, a P/E ratio of 99.79, a PEG ratio of 11.01 and a beta of 0.83.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, April 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The company had revenue of $656.40 million during the quarter, compared to analysts’ expectations of $649.27 million. As a group, sell-side analysts anticipate that CoStar Group, Inc. will post 0.45 EPS for the current year.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 3,800 shares of CoStar Group stock in a transaction on Friday, April 26th. The stock was sold at an average price of $92.67, for a total transaction of $352,146.00. Following the completion of the sale, the insider now directly owns 64,087 shares of the company’s stock, valued at approximately $5,938,942.29. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other CoStar Group news, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group stock in a transaction on Friday, April 26th. The stock was sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the completion of the sale, the chief financial officer now directly owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael J. Desmarais sold 3,800 shares of CoStar Group stock in a transaction on Friday, April 26th. The shares were sold at an average price of $92.67, for a total value of $352,146.00. Following the sale, the insider now directly owns 64,087 shares of the company’s stock, valued at $5,938,942.29. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by corporate insiders.

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.