Phraction Management LLC Buys 4,785 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Phraction Management LLC boosted its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 47.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 14,972 shares of the technology company's stock after purchasing an additional 4,785 shares during the period. Phraction Management LLC's holdings in CoStar Group were worth $1,186,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CSGP. Bamco Inc. NY grew its position in CoStar Group by 2.2% during the fourth 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 boosted its holdings in shares of 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. Geode Capital Management LLC boosted its stake in CoStar Group by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 11,475,755 shares of the technology company's stock worth $819,678,000 after buying an additional 166,769 shares during the last quarter. Akre Capital Management LLC grew its holdings in CoStar Group by 4.3% in the fourth 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 period. Finally, Polen Capital Management LLC purchased a new position in shares of CoStar Group in the 4th quarter worth $465,134,000. Institutional investors and hedge funds own 96.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CSGP. Keefe, Bruyette & Woods boosted their price objective on CoStar Group from $93.00 to $95.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Royal Bank Of Canada reissued a "sector perform" rating and set a $83.00 target price on shares of CoStar Group in a report on Tuesday, June 24th. Needham & Company LLC boosted their price target on shares of CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Stephens raised CoStar Group to a "strong-buy" rating and set a $105.00 price target for the company in a research note on Monday, June 16th. Finally, Bank of America began coverage on CoStar Group in a report on Friday, May 30th. They set a "neutral" rating and a $79.00 target price on the stock. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, CoStar Group presently has a consensus rating of "Moderate Buy" and an average target price of $87.69.

CoStar Group Stock Performance

CSGP stock traded up $0.92 during trading hours on Thursday, reaching $82.34. The stock had a trading volume of 462,191 shares, compared to its average volume of 2,896,433. The stock has a 50-day simple moving average of $77.95 and a 200 day simple moving average of $76.56. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $83.68. The stock has a market capitalization of $34.74 billion, a PE ratio of 283.55, a price-to-earnings-growth ratio of 4.13 and a beta of 0.89. 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 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.