Edgestream Partners L.P. Invests $1.19 Million in CoStar Group, Inc. (NASDAQ:CSGP)

Edgestream Partners L.P. bought a new position in CoStar Group, Inc. (NASDAQ:CSGP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,080 shares of the technology company’s stock, valued at approximately $1,192,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Crewe Advisors LLC bought a new position in shares of CoStar Group in the first quarter worth about $31,000. Riverview Trust Co bought a new position in shares of CoStar Group in the first quarter worth about $35,000. RiverPark Advisors LLC bought a new position in shares of CoStar Group in the first quarter worth about $37,000. TFO Wealth Partners LLC raised its holdings in CoStar Group by 5,571.4% in the 4th quarter. TFO Wealth Partners LLC now owns 397 shares of the technology company’s stock valued at $350,000 after buying an additional 390 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. bought a new position in CoStar Group in the 2nd quarter valued at approximately $49,000. Institutional investors own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CSGP shares. Bank of America dropped their price objective 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. The Goldman Sachs Group dropped their price objective on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Keefe, Bruyette & Woods dropped their price objective 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. Robert W. Baird dropped their price objective on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $96.00 price objective on shares of CoStar Group in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, CoStar Group presently has a consensus rating of “Moderate Buy” and an average price target of $96.38.

CoStar Group Price Performance

CSGP opened at $77.37 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27. The company has a market capitalization of $31.59 billion, a price-to-earnings ratio of 105.99, a P/E/G ratio of 11.55 and a beta of 0.81. The firm’s fifty day moving average price is $76.32 and its two-hundred day moving average price is $81.96. CoStar Group, Inc. has a 1 year low of $67.35 and a 1 year high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its earnings results 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 company had revenue of $677.80 million for the quarter, compared to analysts’ expectations of $677.18 million. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 EPS. As a group, analysts anticipate 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.