HBK Sorce Advisory LLC Lowers Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

HBK Sorce Advisory LLC reduced its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 3.8% during the first quarter, HoldingsChannel reports. The fund owned 4,441 shares of the technology company’s stock after selling 174 shares during the period. HBK Sorce Advisory LLC’s holdings in CoStar Group were worth $352,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC increased its position in shares of CoStar Group by 42.4% during the first quarter. Farther Finance Advisors LLC now owns 1,210 shares of the technology company’s stock valued at $96,000 after acquiring an additional 360 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in CoStar Group during the 1st quarter valued at $221,000. Steward Partners Investment Advisory LLC increased its holdings in shares of CoStar Group by 497.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,133 shares of the technology company’s stock worth $511,000 after purchasing an additional 5,940 shares in the last quarter. Atria Wealth Solutions Inc. raised its stake in shares of CoStar Group by 2.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock worth $557,000 after purchasing an additional 176 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of CoStar Group in the fourth quarter worth $30,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $85.00 price objective on shares of CoStar Group in a research report on Wednesday, April 30th. The Goldman Sachs Group began coverage on shares of CoStar Group in a report on Friday, February 28th. They set a “buy” rating on the stock. Royal Bank Of Canada reissued a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a report on Tuesday. Needham & Company LLC raised their target price on shares of CoStar Group from $87.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Finally, William Blair began coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a “market perform” rating for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, CoStar Group has an average rating of “Moderate Buy” and a consensus price target of $87.69.

CoStar Group Trading Up 0.3%

Shares of CoStar Group stock opened at $81.50 on Friday. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $83.68. The company’s fifty day simple moving average is $77.87 and its 200-day simple moving average is $76.44. 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 $34.38 billion, a PE ratio of 281.03, a P/E/G ratio of 4.09 and a beta of 0.87.

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.