State of Michigan Retirement System Raises Position in CoStar Group, Inc. (NASDAQ:CSGP)

State of Michigan Retirement System lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 123,900 shares of the technology company's stock after purchasing an additional 3,000 shares during the period. State of Michigan Retirement System's holdings in CoStar Group were worth $9,817,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Bamco Inc. NY increased its stake in shares of CoStar Group by 2.2% during the 4th quarter. Bamco Inc. NY now owns 19,203,564 shares of the technology company's stock worth $1,374,783,000 after purchasing an additional 418,128 shares during the last quarter. Capital International Investors increased its stake in shares of CoStar Group by 44.9% during the 4th 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 increased its stake in shares of CoStar Group by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 11,475,755 shares of the technology company's stock worth $819,678,000 after purchasing an additional 166,769 shares during the last quarter. Akre Capital Management LLC increased its stake in shares of CoStar Group by 4.3% during the 4th quarter. Akre Capital Management LLC now owns 9,313,880 shares of the technology company's stock worth $666,781,000 after purchasing an additional 379,787 shares during the last quarter. Finally, Polen Capital Management LLC purchased a new stake in shares of CoStar Group during the 4th quarter worth approximately $465,134,000. Hedge funds and other institutional investors own 96.60% of the company's stock.

Analysts Set New Price Targets

CSGP has been the subject of several research analyst reports. JMP Securities restated a "market outperform" rating and set a $85.00 price target on shares of CoStar Group in a research note on Wednesday, April 30th. Wells Fargo & Company lifted their price objective on shares of CoStar Group from $63.00 to $65.00 and gave the company an "underweight" rating in a research note on Wednesday, April 30th. Stephens upgraded shares of CoStar Group to a "strong-buy" rating and set a $105.00 price objective for the company in a research note on Monday, June 16th. Keefe, Bruyette & Woods lifted 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. Finally, Needham & Company LLC lifted their price objective on shares of CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $87.69.

CoStar Group Stock Down 0.7%

CSGP opened at $85.43 on Friday. The company has a fifty day moving average price of $78.46 and a 200-day moving average price of $77.10. The firm has a market capitalization of $36.04 billion, a P/E ratio of 294.59, a price-to-earnings-growth ratio of 4.34 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, Inc. has a one year low of $68.26 and a one year high of $86.14.

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.

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