CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 0.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,533,767 shares of the technology company's stock after selling 11,302 shares during the period. Bank of New York Mellon Corp owned 1.35% of CoStar Group worth $438,440,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new stake in shares of CoStar Group during the first quarter valued at $29,000. Harel Insurance Investments & Financial Services Ltd. increased its position in CoStar Group by 192.9% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,318 shares of the technology company's stock valued at $104,000 after acquiring an additional 868 shares during the last quarter. IFM Investors Pty Ltd increased its position in CoStar Group by 9.5% during the first quarter. IFM Investors Pty Ltd now owns 82,866 shares of the technology company's stock valued at $6,251,000 after acquiring an additional 7,190 shares during the last quarter. GF Fund Management CO. LTD. increased its position in CoStar Group by 1.7% during the first quarter. GF Fund Management CO. LTD. now owns 79,001 shares of the technology company's stock valued at $6,259,000 after acquiring an additional 1,305 shares during the last quarter. Finally, Checchi Capital Advisers LLC increased its position in CoStar Group by 32.7% during the first quarter. Checchi Capital Advisers LLC now owns 4,650 shares of the technology company's stock valued at $368,000 after acquiring an additional 1,147 shares during the last quarter. 96.60% of the stock is owned by institutional investors.

CoStar Group Price Performance

NASDAQ:CSGP traded up $1.70 during trading hours on Wednesday, hitting $84.53. 1,210,596 shares of the stock were exchanged, compared to its average volume of 2,909,175. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $84.54. The firm's fifty day moving average price is $77.92 and its 200 day moving average price is $76.87. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.12. The company has a market cap of $35.66 billion, a P/E ratio of 291.48, a P/E/G ratio of 4.11 and a beta of 0.89.

Wall Street Analyst Weigh In

CSGP has been the subject of several research analyst reports. Stephens upgraded CoStar Group to a "strong-buy" rating and set a $105.00 target price for the company in a research report on Monday, June 16th. Keefe, Bruyette & Woods raised their price objective on CoStar Group from $93.00 to $95.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Needham & Company LLC lifted their target price on CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $83.00 price target on shares of CoStar Group in a report on Tuesday, June 24th. Finally, Wells Fargo & Company boosted their target price on CoStar Group from $63.00 to $65.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 30th. 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, the company presently has an average rating of "Moderate Buy" and an average target price 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.