Phraction Management LLC Makes New $729,000 Investment in CoStar Group, Inc. (NASDAQ:CSGP)

Phraction Management LLC acquired a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 10,187 shares of the technology company’s stock, valued at approximately $729,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in shares of CoStar Group by 91.4% during the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after buying an additional 1,073,793 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of CoStar Group by 73.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after buying an additional 1,001,177 shares during the period. State Street Corp boosted its stake in shares of CoStar Group by 4.4% during the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after buying an additional 722,153 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of CoStar Group during the 3rd quarter valued at $48,768,000. Finally, Icon Wealth Advisors LLC lifted its stake in shares of CoStar Group by 8,314.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 409,934 shares of the technology company’s stock valued at $30,925,000 after purchasing an additional 405,062 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CSGP. JPMorgan Chase & Co. reduced their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods reduced their price objective on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company began coverage on shares of CoStar Group in a research note on Wednesday, February 5th. They issued an “underweight” rating and a $65.00 price objective for the company. William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a research note on Monday, January 6th. Finally, StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $90.23.

Insider Transactions at CoStar Group

In other news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now owns 58,798 shares in the company, valued at approximately $4,696,784.24. The trade was a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.57% of the company’s stock.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $73.27 on Thursday. The firm’s 50-day moving average is $74.17 and its 200-day moving average is $75.46. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The company has a market cap of $30.04 billion, a price-to-earnings ratio of 166.53 and a beta of 0.87.

CoStar Group Company Profile

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.