86,844 CoStar Group, Inc. $CSGP Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC cut its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 8.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,004,691 shares of the technology company’s stock after selling 86,844 shares during the period. Riverbridge Partners LLC owned about 0.25% of CoStar Group worth $27,529,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in CoStar Group during the second quarter worth about $957,612,000. Principal Financial Group Inc. lifted its holdings in shares of CoStar Group by 0.7% in the first quarter. Principal Financial Group Inc. now owns 17,696,192 shares of the technology company’s stock valued at $713,866,000 after purchasing an additional 130,118 shares in the last quarter. Bamco Inc. NY purchased a new stake in shares of CoStar Group in the second quarter valued at about $612,470,000. Janus Henderson Group PLC grew its position in shares of CoStar Group by 3.4% in the first quarter. Janus Henderson Group PLC now owns 7,724,152 shares of the technology company’s stock valued at $311,586,000 after purchasing an additional 250,772 shares during the last quarter. Finally, Jupiter Topco LLC acquired a new stake in shares of CoStar Group in the second quarter valued at approximately $221,826,000. 96.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CSGP. William Blair downgraded CoStar Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 29th. Wolfe Research reaffirmed an “outperform” rating and issued a $32.00 target price (down from $35.00) on shares of CoStar Group in a research note on Wednesday, July 29th. Weiss Ratings upgraded CoStar Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 29th. JPMorgan Chase & Co. lowered their target price on CoStar Group from $52.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, October 28th. Finally, BTIG Research dropped their price target on CoStar Group from $42.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, October 28th. Ten analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, CoStar Group has a consensus rating of “Hold” and a consensus price target of $39.11.

CoStar Group Price Performance

NASDAQ:CSGP opened at $30.33 on Wednesday. The firm has a market cap of $12.20 billion, a price-to-earnings ratio of 68.93, a price-to-earnings-growth ratio of 0.79 and a beta of 0.79. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.12. The company’s 50-day moving average is $30.21 and its two-hundred day moving average is $35.80. CoStar Group, Inc. has a 12-month low of $25.89 and a 12-month high of $70.57.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, October 27th. The technology company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. The company had revenue of $952.00 million for the quarter, compared to analysts’ expectations of $945.82 million. CoStar Group had a net margin of 4.87% and a return on equity of 4.87%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the company earned $0.23 EPS. Research analysts expect that CoStar Group, Inc. will post 1.12 EPS for the current year.

CoStar Group Company Profile

CoStar Group, Inc. is a provider of commercial real estate information, analytics and online marketplaces. Its services help real estate professionals, investors, lenders and businesses research properties, evaluate markets and connect with buyers, sellers and tenants. The company’s brands include CoStar, which provides commercial property data and research; LoopNet, a commercial property marketplace; Apartments.com, a rental listings platform; and STR, which supplies benchmarking data for the hospitality industry.