Massachusetts Financial Services Co. MA Lowers Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Massachusetts Financial Services Co. MA cut its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 6.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,619,472 shares of the technology company's stock after selling 474,271 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.61% of CoStar Group worth $524,461,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CSGP. Wayfinding Financial LLC acquired a new position in CoStar Group during the first quarter worth about $29,000. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of CoStar Group by 414.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock worth $36,000 after buying an additional 402 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of CoStar Group by 53.1% in the 1st quarter. SBI Securities Co. Ltd. now owns 652 shares of the technology company's stock valued at $52,000 after acquiring an additional 226 shares during the last quarter. Colonial Trust Co SC boosted its holdings 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 acquiring an additional 145 shares in the last quarter. Finally, CVA Family Office LLC grew its position in CoStar Group by 28.3% during the 1st quarter. CVA Family Office LLC now owns 843 shares of the technology company's stock worth $67,000 after acquiring an additional 186 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Stock Performance

NASDAQ:CSGP traded down $1.55 on Tuesday, reaching $84.09. 1,861,731 shares of the company's stock were exchanged, compared to its average volume of 2,896,709. The firm has a market cap of $35.48 billion, a price-to-earnings ratio of 289.97, a P/E/G ratio of 4.30 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. The stock has a fifty day simple moving average of $78.63 and a 200-day simple moving average of $77.25. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $86.42.

Analysts Set New Price Targets

A number of research firms have recently commented on CSGP. Keefe, Bruyette & Woods upped their price objective 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. Royal Bank Of Canada reiterated a "sector perform" rating and set a $83.00 price target on shares of CoStar Group in a report on Tuesday, June 24th. Stephens raised CoStar Group to a "strong-buy" rating and set a $105.00 price objective for the company in a research report on Monday, June 16th. Needham & Company LLC boosted their price target on CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Finally, Bank of America began coverage on shares of CoStar Group in a research report on Friday, May 30th. They set a "neutral" rating and a $79.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.