Tidal Investments LLC Acquires 54,515 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Tidal Investments LLC lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 292.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 73,184 shares of the technology company's stock after buying an additional 54,515 shares during the quarter. Tidal Investments LLC's holdings in CoStar Group were worth $5,521,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Ashton Thomas Securities LLC bought a new stake in shares of CoStar Group during the third quarter worth approximately $40,000. Industrial Alliance Investment Management Inc. bought a new stake in CoStar Group in the 2nd quarter valued at $49,000. Quarry LP acquired a new position in CoStar Group in the 2nd quarter valued at $54,000. Rothschild Investment LLC bought a new position in CoStar Group during the 2nd quarter worth $73,000. Finally, Blue Trust Inc. lifted its holdings in shares of CoStar Group by 493.4% during the second quarter. Blue Trust Inc. now owns 1,080 shares of the technology company's stock worth $80,000 after buying an additional 898 shares in the last quarter. Institutional investors own 96.60% of the company's stock.

Insider Activity

In other news, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares of the company's stock, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through 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 purchased at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the transaction, the chief executive officer now directly owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This trade represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.57% of the company's stock.

CoStar Group Price Performance

Shares of CSGP traded down $3.18 during mid-day trading on Friday, reaching $75.07. The company had a trading volume of 2,325,172 shares, compared to its average volume of 2,380,497. The company's 50 day simple moving average is $76.45 and its 200 day simple moving average is $76.03. The company has a market capitalization of $30.78 billion, a price-to-earnings ratio of 170.62 and a beta of 0.83. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year 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 - Get Free Report) last announced its quarterly 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. 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 the consensus estimate of $695.91 million. During the same period in the prior year, the business earned $0.25 earnings per share. The company's revenue for the quarter was up 10.9% compared to the same quarter last year. Analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CSGP shares. StockNews.com lowered shares of CoStar Group from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. JPMorgan Chase & Co. dropped their price target on shares of CoStar Group from $108.00 to $99.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada downgraded CoStar Group from an "outperform" rating to a "sector perform" rating and reduced their price target for the stock from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 price objective on shares of CoStar Group in a report on Monday, December 9th. Finally, Citigroup cut their target price on CoStar Group from $97.00 to $90.00 and set a "buy" rating for the company in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $93.25.

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.