Bank of New York Mellon Corp Sells 11,302 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

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

A number of other institutional investors and hedge funds have also modified their holdings of the company. Bamco Inc. NY increased its position in CoStar Group by 2.2% in the 4th quarter. Bamco Inc. NY now owns 19,203,564 shares of the technology company's stock worth $1,374,783,000 after buying an additional 418,128 shares during the period. Capital International Investors raised its stake in CoStar Group by 44.9% during the 4th quarter. Capital International Investors now owns 14,032,363 shares of the technology company's stock valued at $1,004,578,000 after purchasing an additional 4,345,267 shares during the last quarter. Geode Capital Management LLC raised its stake in CoStar Group by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 11,475,755 shares of the technology company's stock valued at $819,678,000 after purchasing an additional 166,769 shares during the last quarter. Akre Capital Management LLC raised its stake in CoStar Group by 4.3% during the 4th quarter. Akre Capital Management LLC now owns 9,313,880 shares of the technology company's stock valued at $666,781,000 after purchasing an additional 379,787 shares during the last quarter. Finally, Polen Capital Management LLC acquired a new position in CoStar Group during the 4th quarter valued at $465,134,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Price Performance

Shares of CSGP traded up $1.23 during trading hours on Tuesday, hitting $82.83. The stock had a trading volume of 2,825,905 shares, compared to its average volume of 2,913,125. The company's fifty day moving average is $77.91 and its two-hundred day moving average is $76.82. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.01 and a quick ratio of 6.01. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $83.68. The stock has a market capitalization of $34.95 billion, a price-to-earnings ratio of 285.62, a P/E/G ratio of 4.11 and a beta of 0.89.

Analysts Set New Price Targets

CSGP has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped 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. JMP Securities reiterated a "market outperform" rating and set a $85.00 target price on shares of CoStar Group in a research note on Wednesday, April 30th. Wells Fargo & Company upped 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. Stephens upgraded shares of CoStar Group to a "strong-buy" rating and set a $105.00 target price for the company in a research note on Monday, June 16th. Finally, Bank of America began coverage on shares of CoStar Group in a research note on Friday, May 30th. They issued a "neutral" rating and a $79.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $87.69.

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.