Telemark Asset Management LLC Raises Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Telemark Asset Management LLC boosted its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 42.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 500,000 shares of the technology company's stock after buying an additional 150,000 shares during the quarter. CoStar Group makes up about 3.8% of Telemark Asset Management LLC's holdings, making the stock its 6th biggest holding. Telemark Asset Management LLC owned about 0.12% of CoStar Group worth $37,720,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Citigroup Inc. lifted its position in shares of CoStar Group by 5.4% in the 3rd quarter. Citigroup Inc. now owns 729,730 shares of the technology company's stock worth $55,051,000 after purchasing an additional 37,113 shares during the period. Charles Schwab Investment Management Inc. raised its stake in CoStar Group by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company's stock worth $202,509,000 after buying an additional 76,916 shares in the last quarter. Moran Wealth Management LLC lifted its holdings in CoStar Group by 2.0% in the third quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company's stock worth $606,000 after buying an additional 161 shares during the period. EagleClaw Capital Managment LLC boosted its position in CoStar Group by 10.6% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 15,600 shares of the technology company's stock valued at $1,177,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Bellwether Advisors LLC purchased a new position in shares of CoStar Group during the 3rd quarter worth approximately $554,000. Hedge funds and other institutional investors own 96.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. 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. Needham & Company LLC restated a "buy" rating and set a $100.00 target price on shares of CoStar Group in a report on Tuesday. Royal Bank of Canada lowered shares of CoStar Group from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from $96.00 to $83.00 in a research note on Wednesday, October 23rd. JMP Securities reissued a "market outperform" rating and set a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. cut their price objective on shares of CoStar Group from $108.00 to $99.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, CoStar Group has a consensus rating of "Moderate Buy" and a consensus target price of $93.25.

CoStar Group Stock Performance

CSGP traded up $2.81 during midday trading on Friday, hitting $79.81. 3,842,529 shares of the company traded hands, compared to its average volume of 2,401,462. The company's 50-day moving average is $75.47 and its 200 day moving average is $77.07. 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 firm has a market capitalization of $32.72 billion, a PE ratio of 174.98 and a beta of 0.82. 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 the consensus estimate of $0.16 by $0.06. The company had revenue of $692.60 million for the quarter, compared to analysts' expectations of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The firm's quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the company posted $0.25 earnings per share. On average, research analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current year.

Insider Buying and Selling at CoStar Group

In other news, Director Michael R. Klein sold 71,633 shares of the business's stock in a transaction 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 completion of the sale, the director now owns 1,913,501 shares of the company's stock, valued at $142,919,389.69. The trade was a 3.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Andrew C. Florance bought 14,731 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The stock was 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 owns 1,263,098 shares in the company, valued at $94,315,527.66. This trade represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is owned by corporate insiders.

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.