Bank of New York Mellon Corp Raises Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Bank of New York Mellon Corp boosted its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP – Get Rating) by 50.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,262,781 shares of the technology company’s stock after purchasing an additional 1,095,628 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.80% of CoStar Group worth $227,253,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in CoStar Group by 22.1% during the third quarter. Vanguard Group Inc. now owns 42,997,622 shares of the technology company’s stock worth $2,994,784,000 after purchasing an additional 7,780,240 shares in the last quarter. BlackRock Inc. raised its holdings in shares of CoStar Group by 42.0% during the third quarter. BlackRock Inc. now owns 28,633,861 shares of the technology company’s stock valued at $1,994,349,000 after acquiring an additional 8,470,338 shares during the last quarter. State Street Corp raised its holdings in shares of CoStar Group by 84.0% during the third quarter. State Street Corp now owns 14,630,966 shares of the technology company’s stock valued at $1,019,047,000 after acquiring an additional 6,681,249 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of CoStar Group by 5.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,492,550 shares of the technology company’s stock valued at $730,805,000 after acquiring an additional 526,669 shares during the last quarter. Finally, Macquarie Group Ltd. raised its holdings in shares of CoStar Group by 2.2% during the second quarter. Macquarie Group Ltd. now owns 8,429,294 shares of the technology company’s stock valued at $509,214,000 after acquiring an additional 180,066 shares during the last quarter. Hedge funds and other institutional investors own 97.80% of the company’s stock.

Insider Buying and Selling

In related news, insider Michael J. Desmarais sold 5,600 shares of the stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $70.36, for a total value of $394,016.00. Following the completion of the transaction, the insider now directly owns 44,846 shares in the company, valued at $3,155,364.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.42% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CSGP has been the subject of a number of research analyst reports. Truist Financial reduced their target price on CoStar Group from $95.00 to $85.00 in a report on Wednesday, February 22nd. Bank of America reissued a “buy” rating and set a $100.00 target price on shares of CoStar Group in a report on Friday, November 18th. Needham & Company LLC reduced their target price on CoStar Group from $95.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, February 22nd. JPMorgan Chase & Co. assumed coverage on CoStar Group in a report on Friday, December 16th. They set an “overweight” rating and a $100.00 target price for the company. Finally, Stephens cut their price target on CoStar Group from $90.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, February 22nd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.25.

CoStar Group Trading Up 0.6 %

Shares of CoStar Group stock opened at $67.75 on Friday. The firm has a market capitalization of $27.56 billion, a price-to-earnings ratio of 72.85, a PEG ratio of 3.64 and a beta of 0.88. CoStar Group, Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $85.37. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.92 and a current ratio of 13.92. The stock has a 50 day moving average of $75.24 and a 200 day moving average of $76.10.

CoStar Group Profile

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CoStar Group, Inc engages in providing online real estate marketplaces, information, and analytics in the commercial and residential property markets. It operates through the North America and International geographical segments. The North America segment includes the Unites States and Canada. The International refers to Europe, Asia-Pacific, and Latin America.