DekaBank Deutsche Girozentrale Cuts Position in CoStar Group, Inc. (NASDAQ:CSGP)

DekaBank Deutsche Girozentrale reduced its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 47.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,765 shares of the technology company's stock after selling 86,875 shares during the period. DekaBank Deutsche Girozentrale's holdings in CoStar Group were worth $7,562,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Personal CFO Solutions LLC increased its stake in CoStar Group by 20.5% in the first quarter. Personal CFO Solutions LLC now owns 11,629 shares of the technology company's stock valued at $921,000 after purchasing an additional 1,976 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of CoStar Group by 51.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 10,130 shares of the technology company's stock valued at $803,000 after acquiring an additional 3,458 shares during the period. Wayfinding Financial LLC purchased a new position in shares of CoStar Group during the first quarter worth approximately $29,000. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of 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 worth $104,000 after acquiring an additional 868 shares during the last quarter. Finally, IFM Investors Pty Ltd grew its position in shares of CoStar Group by 9.5% during the first quarter. IFM Investors Pty Ltd now owns 82,866 shares of the technology company's stock worth $6,251,000 after acquiring an additional 7,190 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Bank of America assumed coverage on shares of CoStar Group in a research report on Friday, May 30th. They set a "neutral" rating and a $79.00 target price on the stock. Stephens upgraded shares of CoStar Group to a "strong-buy" rating and set a $105.00 target price on the stock in a research report on Monday, June 16th. JMP Securities restated a "market outperform" rating and set a $85.00 target price on shares of CoStar Group in a research report on Wednesday, April 30th. Needham & Company LLC raised their target price on shares of CoStar Group from $87.00 to $98.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company raised their target price on shares of CoStar Group from $63.00 to $65.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 30th. 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $87.69.

CoStar Group Stock Performance

Shares of NASDAQ CSGP traded down $0.62 during mid-day trading on Friday, hitting $85.43. 2,361,767 shares of the company were exchanged, compared to its average volume of 2,902,368. 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 stock has a 50 day simple moving average of $78.46 and a 200-day simple moving average of $77.12. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $86.14. The firm has a market cap of $36.04 billion, a price-to-earnings ratio of 294.59, a price-to-earnings-growth ratio of 4.30 and a beta of 0.89.

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.