Holocene Advisors LP Purchases Shares of 105,582 CoStar Group, Inc. (NASDAQ:CSGP)

Holocene Advisors LP acquired a new stake in CoStar Group, Inc. (NASDAQ:CSGP) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 105,582 shares of the technology company’s stock, valued at approximately $7,965,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CSGP. Ashton Thomas Securities LLC bought a new position in CoStar Group during the 3rd quarter valued at approximately $40,000. Gateway Investment Advisers LLC raised its holdings in shares of CoStar Group by 31.1% during the second quarter. Gateway Investment Advisers LLC now owns 40,525 shares of the technology company’s stock valued at $3,005,000 after acquiring an additional 9,618 shares in the last quarter. Telemark Asset Management LLC lifted its stake in CoStar Group by 42.9% in the third quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock worth $37,720,000 after acquiring an additional 150,000 shares during the period. Swedbank AB lifted its stake in CoStar Group by 469.3% in the third quarter. Swedbank AB now owns 248,043 shares of the technology company’s stock worth $18,712,000 after acquiring an additional 204,474 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in CoStar Group by 16.2% in the third quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock valued at $7,812,000 after acquiring an additional 14,468 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

CoStar Group Stock Up 0.1 %

Shares of CoStar Group stock opened at $80.15 on Wednesday. The company has a 50-day simple moving average of $75.99 and a two-hundred day simple moving average of $76.39. The stock has a market capitalization of $32.86 billion, a PE ratio of 182.16 and a beta of 0.83. 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.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The company had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. During the same period in the previous year, the business earned $0.25 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research report on Friday, September 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of CoStar Group in a research report on Tuesday, November 19th. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Citigroup dropped their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, Royal Bank of Canada downgraded CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

Insider Activity at CoStar Group

In related news, Director Michael R. Klein sold 71,633 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the transaction, the director now owns 1,913,501 shares in the company, valued at $142,919,389.69. This represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew C. Florance bought 14,731 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were bought at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the purchase, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. The trade was a 1.18 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by insiders.

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.