CoStar Group (NASDAQ:CSGP) Hits New 1-Year High - Here's What Happened

CoStar Group, Inc. (NASDAQ:CSGP - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $84.06 and last traded at $83.63, with a volume of 163632 shares trading hands. The stock had previously closed at $82.83.

Analyst Ratings Changes

A number of equities analysts have commented on CSGP shares. Royal Bank Of Canada restated a "sector perform" rating and issued a $83.00 price target on shares of CoStar Group in a research report on Tuesday, June 24th. Wells Fargo & Company boosted their price target on shares of CoStar Group from $63.00 to $65.00 and gave the company an "underweight" rating in a research report on Wednesday, April 30th. Needham & Company LLC boosted their target price on shares of CoStar Group from $87.00 to $98.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. JMP Securities reaffirmed a "market outperform" rating and issued a $85.00 target price on shares of CoStar Group in a research note on Wednesday, April 30th. Finally, Bank of America initiated 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $87.69.

CoStar Group Stock Performance

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 firm has a market capitalization of $35.86 billion, a P/E ratio of 293.11, a P/E/G ratio of 4.26 and a beta of 0.89. The stock's 50 day moving average is $78.31 and its two-hundred day moving average is $77.01.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CSGP. Mizuho Markets Americas LLC acquired a new position in CoStar Group during the first quarter worth $586,403,000. Polen Capital Management LLC acquired a new position in CoStar Group during the fourth quarter worth $465,134,000. Norges Bank acquired a new position in CoStar Group during the fourth quarter worth $390,755,000. Capital International Investors boosted its holdings in CoStar Group by 44.9% during the fourth quarter. Capital International Investors now owns 14,032,363 shares of the technology company's stock worth $1,004,578,000 after purchasing an additional 4,345,267 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in CoStar Group by 4.1% during the first quarter. Vanguard Group Inc. now owns 68,426,711 shares of the technology company's stock worth $5,421,448,000 after purchasing an additional 2,709,320 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

CoStar Group Company 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.