Schechter Investment Advisors LLC Decreases Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Schechter Investment Advisors LLC reduced its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 14.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,303 shares of the technology company’s stock after selling 1,091 shares during the period. Schechter Investment Advisors LLC’s holdings in CoStar Group were worth $499,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Arizona State Retirement System raised its stake in shares of CoStar Group by 2.0% during the 1st quarter. Arizona State Retirement System now owns 121,429 shares of the technology company’s stock worth $9,621,000 after buying an additional 2,433 shares during the last quarter. Cortland Associates Inc. MO raised its stake in shares of CoStar Group by 0.4% during the 1st quarter. Cortland Associates Inc. MO now owns 190,914 shares of the technology company’s stock worth $15,126,000 after buying an additional 790 shares during the last quarter. Cromwell Holdings LLC acquired a new position in shares of CoStar Group during the 1st quarter worth $77,000. Xponance Inc. raised its stake in shares of CoStar Group by 3.6% during the 1st quarter. Xponance Inc. now owns 58,187 shares of the technology company’s stock worth $4,610,000 after buying an additional 2,032 shares during the last quarter. Finally, State of Michigan Retirement System raised its stake in shares of CoStar Group by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 123,900 shares of the technology company’s stock worth $9,817,000 after buying an additional 3,000 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Stock Down 1.8%

CSGP opened at $84.09 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.01 and a quick ratio of 6.01. The stock has a market capitalization of $35.48 billion, a price-to-earnings ratio of 289.97, a price-to-earnings-growth ratio of 4.31 and a beta of 0.89. The business has a 50-day moving average of $78.82 and a two-hundred day moving average of $77.29. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $86.45.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CSGP. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $83.00 price target on shares of CoStar Group in a research note on Tuesday, June 24th. Needham & Company LLC boosted their target price on shares of CoStar Group from $87.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Keefe, Bruyette & Woods boosted their target price on shares of CoStar Group from $93.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Wells Fargo & Company boosted their target price on shares of CoStar Group from $63.00 to $65.00 and gave the company an “underweight” rating in a research note on Wednesday, April 30th. Finally, Bank of America started coverage on shares of CoStar Group in a research note on Friday, May 30th. They issued a “neutral” rating and a $79.00 target price for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $87.69.

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.