Artemis Investment Management LLP Has $7.71 Million Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Artemis Investment Management LLP cut its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 67.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 107,623 shares of the technology company's stock after selling 224,026 shares during the quarter. Artemis Investment Management LLP's holdings in CoStar Group were worth $7,705,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Partners LLC grew its position in CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company's stock worth $30,000 after acquiring an additional 353 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of CoStar Group during the third quarter worth $40,000. Quarry LP bought a new stake in shares of CoStar Group during the second quarter worth $54,000. Brooklyn Investment Group bought a new position in shares of CoStar Group in the third quarter valued at about $91,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of CoStar Group in the second quarter valued at about $104,000. Institutional investors and hedge funds own 96.60% of the company's stock.

Insider Activity

In other CoStar Group news, CEO Andrew C. Florance acquired 14,731 shares of the stock in a transaction dated Friday, October 25th. The shares were bought at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the acquisition, the chief executive officer now directly owns 1,263,098 shares of the company's stock, valued at approximately $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Desmarais sold 5,500 shares of the business's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the sale, the insider now directly owns 58,798 shares in the company, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company's stock.

CoStar Group Price Performance

CSGP opened at $73.85 on Monday. The company has a fifty day simple moving average of $74.67 and a 200 day simple moving average of $75.34. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a market cap of $30.28 billion, a P/E ratio of 167.84 and a beta of 0.85. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 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 company had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. During the same quarter last year, the firm posted $0.25 earnings per share. CoStar Group's revenue was up 10.9% compared to the same quarter last year. On average, research analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CSGP shares. William Blair restated an "outperform" rating on shares of CoStar Group in a research report on Monday, January 6th. Royal Bank of Canada restated a "sector perform" rating and issued a $83.00 price objective on shares of CoStar Group in a research report on Friday, January 10th. Needham & Company LLC reaffirmed a "buy" rating and set a $100.00 price objective on shares of CoStar Group in a report on Monday, December 9th. JPMorgan Chase & Co. lowered their target price on CoStar Group from $108.00 to $99.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. Finally, StockNews.com lowered CoStar Group from a "hold" rating to a "sell" rating in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $92.92.

About CoStar Group

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.