Sowell Financial Services LLC Invests $576,000 in CoStar Group, Inc. (NASDAQ:CSGP)

Sowell Financial Services LLC bought a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,268 shares of the technology company's stock, valued at approximately $576,000.

Several other hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC bought a new position in CoStar Group in the first quarter worth approximately $4,835,000. Exchange Traded Concepts LLC lifted its stake in shares of CoStar Group by 2.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 31,482 shares of the technology company's stock worth $2,494,000 after purchasing an additional 664 shares during the last quarter. Foster Victor Wealth Advisors LLC boosted its position in CoStar Group by 4.5% during the first quarter. Foster Victor Wealth Advisors LLC now owns 196,388 shares of the technology company's stock valued at $15,198,000 after purchasing an additional 8,519 shares in the last quarter. Azzad Asset Management Inc. ADV grew its stake in CoStar Group by 3.0% in the first quarter. Azzad Asset Management Inc. ADV now owns 109,977 shares of the technology company's stock valued at $8,713,000 after purchasing an additional 3,213 shares during the last quarter. Finally, CVA Family Office LLC raised its holdings in CoStar Group by 28.3% in the first quarter. CVA Family Office LLC now owns 843 shares of the technology company's stock worth $67,000 after purchasing an additional 186 shares in the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Trading Up 0.5%

Shares of NASDAQ:CSGP traded up $0.39 during midday trading on Monday, reaching $80.04. 2,688,556 shares of the company's stock were exchanged, compared to its average volume of 2,909,753. 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 cap of $33.77 billion, a price-to-earnings ratio of 276.00, a P/E/G ratio of 4.01 and a beta of 0.87. The firm's 50 day simple moving average is $77.77 and its two-hundred day simple moving average is $76.33. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.01 and a quick ratio of 6.01.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CSGP shares. Deutsche Bank Aktiengesellschaft began coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a "buy" rating and a $89.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of CoStar Group from $63.00 to $65.00 and gave the company an "underweight" rating in a report on Wednesday, April 30th. Bank of America assumed coverage on shares of CoStar Group in a research note on Friday, May 30th. They issued a "neutral" rating and a $79.00 target price for the company. Needham & Company LLC raised their price target on shares of CoStar Group from $87.00 to $98.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Finally, Craig Hallum assumed coverage on CoStar Group in a research report on Friday, February 28th. They issued a "buy" rating on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average 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.