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

Bank of New York Mellon Corp reduced its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 0.2% in the first quarter, according to its most recent 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 approximately 1.35% of CoStar Group worth $438,440,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hopwood Financial Services Inc. purchased a new stake in CoStar Group in the 4th quarter valued at $25,000. Wayfinding Financial LLC purchased a new stake in shares of CoStar Group during the 1st quarter valued at $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of CoStar Group during the 4th quarter valued at $30,000. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of CoStar Group by 414.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock valued at $36,000 after purchasing an additional 402 shares during the last quarter. Finally, Colonial Trust Co SC increased its position in shares of CoStar Group by 27.4% during the 4th quarter. Colonial Trust Co SC now owns 674 shares of the technology company's stock valued at $48,000 after purchasing an additional 145 shares during the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Royal Bank Of Canada reissued a "sector perform" rating and issued a $83.00 price objective on shares of CoStar Group in a report on Tuesday, June 24th. Bank of America started coverage on CoStar Group in a report on Friday, May 30th. They issued a "neutral" rating and a $79.00 price objective for the company. Keefe, Bruyette & Woods lifted their price objective on CoStar Group from $93.00 to $95.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Wells Fargo & Company lifted their price objective on CoStar Group from $63.00 to $65.00 and gave the stock an "underweight" rating in a report on Wednesday, April 30th. Finally, 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 report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, CoStar Group presently has an average rating of "Moderate Buy" and a consensus price target of $87.69.

CoStar Group Price Performance

Shares of NASDAQ CSGP traded down $0.73 during midday trading on Monday, hitting $81.39. 389,671 shares of the company's stock were exchanged, compared to its average volume of 3,230,587. The business's fifty day moving average price is $77.92 and its two-hundred day moving average price is $76.75. The company has a market cap of $34.34 billion, a price-to-earnings ratio of 280.68, a PEG ratio of 4.14 and a beta of 0.89. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $83.68. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.12.

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.