Chicago Capital LLC Grows Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Chicago Capital LLC raised its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 3.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 943,955 shares of the technology company's stock after buying an additional 29,016 shares during the period. CoStar Group accounts for about 2.1% of Chicago Capital LLC's investment portfolio, making the stock its 12th biggest position. Chicago Capital LLC owned 0.23% of CoStar Group worth $74,790,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CSGP. Polen Capital Management LLC acquired a new position in shares of CoStar Group during the fourth quarter worth approximately $465,134,000. Norges Bank bought a new stake in CoStar Group in the fourth quarter valued at about $390,755,000. Capital International Investors raised its position in shares of CoStar Group by 44.9% in 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 acquiring an additional 4,345,267 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of CoStar Group by 24.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,415,895 shares of the technology company's stock worth $459,314,000 after purchasing an additional 1,267,263 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in CoStar Group by 2,181.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,129,307 shares of the technology company's stock worth $80,847,000 after acquiring an additional 1,079,815 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CSGP. Wells Fargo & Company upped their target price on shares of CoStar Group from $63.00 to $65.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 30th. Piper Sandler initiated coverage on CoStar Group in a report on Friday, February 28th. They issued an "overweight" rating on the stock. William Blair began coverage on CoStar Group in a report on Friday, February 28th. They set a "market perform" rating for the company. Craig Hallum started coverage on CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating on the stock. Finally, Needham & Company LLC upped their price target on CoStar Group from $87.00 to $98.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $87.69.

CoStar Group Trading Up 0.1%

Shares of CSGP stock traded up $0.08 during mid-day trading on Friday, reaching $79.65. 4,689,579 shares of the stock traded hands, compared to its average volume of 2,929,310. The stock's fifty day simple moving average is $77.72 and its two-hundred day simple moving average is $76.36. The company has a quick ratio of 6.01, a current ratio of 6.01 and a debt-to-equity ratio of 0.12. The company has a market cap of $33.60 billion, a price-to-earnings ratio of 274.66, a price-to-earnings-growth ratio of 4.01 and a beta of 0.87. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $83.68.

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.