Triad Wealth Partners LLC Makes New $119,000 Investment in CoStar Group, Inc. (NASDAQ:CSGP)

Triad Wealth Partners LLC purchased a new stake in CoStar Group, Inc. (NASDAQ:CSGP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,609 shares of the technology company’s stock, valued at approximately $119,000.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position 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 purchasing an additional 541,700 shares during the period. Janus Henderson Group PLC lifted its position in 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 in the last quarter. Norges Bank acquired a new position in CoStar Group in the 4th quarter worth $406,934,000. Blair William & Co. IL increased its holdings in CoStar Group by 0.6% during the 1st quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company’s stock worth $426,951,000 after purchasing an additional 26,800 shares in the last quarter. Finally, Brown Advisory Inc. raised 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 purchasing an additional 380,859 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CSGP has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and set a $107.00 price objective on shares of CoStar Group in a report on Wednesday, July 24th. Royal Bank of Canada reduced their price objective on shares of CoStar Group from $109.00 to $96.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. BMO Capital Markets lifted their target price on CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research report on Thursday, April 25th. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. Finally, Stephens reissued an “overweight” rating and issued a $105.00 target price on shares of CoStar Group in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $96.38.

CoStar Group Price Performance

Shares of CSGP stock traded down $0.51 during trading on Friday, hitting $74.04. The company had a trading volume of 1,958,187 shares, compared to its average volume of 2,310,568. The stock’s 50-day moving average price is $74.71 and its 200 day moving average price is $83.11. CoStar Group, Inc. has a one year low of $67.35 and a one year high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. The firm has a market capitalization of $30.23 billion, a P/E ratio of 101.42, a price-to-earnings-growth ratio of 10.89 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 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%. CoStar Group’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business earned $0.27 earnings per share. Equities analysts expect that CoStar Group, Inc. will post 0.49 EPS 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.