JAT Capital Mgmt LP Purchases Shares of 168,178 CoStar Group, Inc. (NASDAQ:CSGP)

JAT Capital Mgmt LP acquired a new position in CoStar Group, Inc. (NASDAQ:CSGP) during the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 168,178 shares of the technology company’s stock, valued at approximately $12,687,000. CoStar Group accounts for about 2.0% of JAT Capital Mgmt LP’s portfolio, making the stock its 17th biggest holding.

Other hedge funds also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. grew its holdings in shares of CoStar Group by 49.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 5,087 shares of the technology company’s stock worth $491,000 after acquiring an additional 1,673 shares during the last quarter. Tidal Investments LLC increased its stake in CoStar Group by 8.2% in the 1st quarter. Tidal Investments LLC now owns 13,095 shares of the technology company’s stock worth $1,265,000 after purchasing an additional 998 shares in the last quarter. Swedbank AB acquired a new stake in CoStar Group during the 1st quarter worth about $4,223,000. Cetera Investment Advisers lifted its stake in CoStar Group by 129.8% during the first quarter. Cetera Investment Advisers now owns 150,203 shares of the technology company’s stock valued at $14,510,000 after buying an additional 84,854 shares in the last quarter. Finally, Cetera Advisors LLC boosted its holdings in shares of CoStar Group by 523.0% in the first quarter. Cetera Advisors LLC now owns 38,453 shares of the technology company’s stock worth $3,715,000 after buying an additional 32,281 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Price Performance

NASDAQ CSGP opened at $81.34 on Friday. 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, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The business has a 50 day simple moving average of $75.86 and a 200 day simple moving average of $76.66. The stock has a market cap of $33.35 billion, a price-to-earnings ratio of 184.86 and a beta of 0.82.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The company had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 EPS. Analysts anticipate that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Transactions at CoStar Group

In related news, CEO Andrew C. Florance acquired 14,731 shares of CoStar Group stock in a transaction on Friday, October 25th. The stock was purchased at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the transaction, the chief executive officer now directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the stock in a transaction dated 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 transaction, the director now directly owns 1,913,501 shares in the company, valued at $142,919,389.69. The trade was a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CSGP has been the topic of several research analyst reports. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. lowered their price target on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Citigroup reduced their price objective on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of CoStar Group in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada downgraded CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $96.00 to $83.00 in a report on Wednesday, October 23rd. One investment 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

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.