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

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

Several other large investors have also made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in CoStar Group by 425.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,100 shares of the technology company’s stock valued at $158,000 after purchasing an additional 1,700 shares in the last quarter. Creative Planning lifted its position in shares of CoStar Group by 27.9% during the third quarter. Creative Planning now owns 31,828 shares of the technology company’s stock worth $2,401,000 after purchasing an additional 6,939 shares during the last quarter. Swedbank AB lifted its position in shares of CoStar Group by 469.3% during the third quarter. Swedbank AB now owns 248,043 shares of the technology company’s stock worth $18,712,000 after purchasing an additional 204,474 shares during the last quarter. Regatta Capital Group LLC lifted its position in shares of CoStar Group by 2.0% during the third quarter. Regatta Capital Group LLC now owns 11,906 shares of the technology company’s stock worth $898,000 after purchasing an additional 239 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC lifted its holdings in CoStar Group by 34.6% in the third quarter. Foster Victor Wealth Advisors LLC now owns 166,892 shares of the technology company’s stock worth $12,634,000 after acquiring an additional 42,938 shares during the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Price Performance

NASDAQ CSGP opened at $73.27 on Thursday. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The firm has a market capitalization of $30.04 billion, a PE ratio of 166.53 and a beta of 0.87. The company’s 50 day simple moving average is $74.17 and its 200 day simple moving average is $75.46.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Citigroup cut their target price on shares of CoStar Group from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 target price on shares of CoStar Group in a report on Friday, January 10th. BMO Capital Markets cut their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, CoStar Group currently has an average rating of “Moderate Buy” and an average target price of $90.23.

Insider Activity at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.57% of the company’s stock.

CoStar Group 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.