Holocene Advisors LP Takes Position in CoStar Group, Inc. (NASDAQ:CSGP)

Holocene Advisors LP acquired a new position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 105,582 shares of the technology company's stock, valued at approximately $7,965,000.

Other large investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in CoStar Group in the third quarter worth $40,000. Gateway Investment Advisers LLC increased its position in shares of CoStar Group by 31.1% in the second quarter. Gateway Investment Advisers LLC now owns 40,525 shares of the technology company's stock valued at $3,005,000 after buying an additional 9,618 shares in the last quarter. Telemark Asset Management LLC increased its position in shares of CoStar Group by 42.9% in the third quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company's stock valued at $37,720,000 after buying an additional 150,000 shares in the last quarter. Swedbank AB increased its position in shares of CoStar Group by 469.3% in the third quarter. Swedbank AB now owns 248,043 shares of the technology company's stock valued at $18,712,000 after buying an additional 204,474 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of 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 buying an additional 14,468 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CSGP shares. BMO Capital Markets dropped their price target on CoStar Group from $78.00 to $75.00 and set a "market perform" rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada cut CoStar Group from an "outperform" rating to a "sector perform" rating and dropped their price target for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. StockNews.com cut CoStar Group from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. JPMorgan Chase & Co. dropped their price objective on CoStar Group from $108.00 to $99.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Finally, JMP Securities reiterated a "market outperform" rating and set a $90.00 price objective on shares of CoStar Group in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $93.25.

CoStar Group Trading Down 0.5 %

CSGP traded down $0.40 during midday trading on Wednesday, hitting $79.75. The company's stock had a trading volume of 2,079,100 shares, compared to its average volume of 2,384,878. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm has a market cap of $32.69 billion, a P/E ratio of 181.25 and a beta of 0.83. The firm has a 50-day moving average price of $76.11 and a two-hundred day moving average price of $76.42. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38.

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

Insider Transactions at CoStar Group

In related news, Director Michael R. Klein sold 71,633 shares of the business's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the transaction, the director now directly owns 1,913,501 shares of the company's stock, valued at approximately $142,919,389.69. The trade was a 3.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael J. Desmarais sold 5,500 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares in the company, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.57% of the company's stock.

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.