Avitas Wealth Management LLC Sells 312 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Avitas Wealth Management LLC cut its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 5.4% in the 2nd quarter, Holdings Channel reports. The firm owned 5,418 shares of the technology company’s stock after selling 312 shares during the period. Avitas Wealth Management LLC’s holdings in CoStar Group were worth $402,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CSGP. Vanguard Group Inc. lifted its stake in shares of CoStar Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock valued at $6,322,615,000 after acquiring an additional 541,700 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of CoStar Group by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after acquiring an additional 1,773,564 shares during the last quarter. Norges Bank bought a new position in shares of CoStar Group in the 4th quarter valued at $406,934,000. Blair William & Co. IL lifted its stake in shares of CoStar Group by 0.6% in the 1st quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company’s stock valued at $426,951,000 after acquiring an additional 26,800 shares during the last quarter. Finally, Brown Advisory Inc. lifted its stake in shares of CoStar Group by 10.1% in the 4th quarter. Brown Advisory Inc. now owns 4,144,721 shares of the technology company’s stock valued at $362,207,000 after acquiring an additional 380,859 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on CSGP. Robert W. Baird decreased their price objective on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. The Goldman Sachs Group decreased their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, July 29th. JPMorgan Chase & Co. increased their price objective on CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Bank of America decreased their price objective on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 22nd. One research 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.38.

CoStar Group Trading Up 1.9 %

CoStar Group stock traded up $1.44 during trading hours on Friday, reaching $76.99. 1,621,698 shares of the company’s stock were exchanged, compared to its average volume of 2,285,297. 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 firm’s 50 day simple moving average is $74.67 and its 200 day simple moving average is $82.82. CoStar Group, Inc. has a twelve month low of $67.35 and a twelve month high of $100.38. The firm has a market capitalization of $31.44 billion, a PE ratio of 105.47, a PEG ratio of 10.97 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. The firm had revenue of $677.80 million during the quarter, compared to the consensus estimate 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 was up 11.9% compared to the same quarter last year. During the same period last year, the business posted $0.27 EPS. Research analysts predict that CoStar Group, Inc. will post 0.49 earnings per share for the current 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.