JAT Capital Mgmt LP Takes Position in CoStar Group, Inc. (NASDAQ:CSGP)

JAT Capital Mgmt LP bought a new position in CoStar Group, Inc. (NASDAQ:CSGP) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 168,178 shares of the technology company’s stock, valued at approximately $12,687,000. CoStar Group comprises 2.0% of JAT Capital Mgmt LP’s portfolio, making the stock its 17th largest position.

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

Insider Activity at CoStar Group

In other CoStar Group news, CEO Andrew C. Florance bought 14,731 shares of the company’s stock in a transaction on Friday, October 25th. The shares were bought at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the acquisition, the chief executive officer now 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $439,340.00. Following the sale, the insider now owns 58,798 shares in the company, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Citigroup decreased their price target on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada cut CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of CoStar Group in a report on Tuesday, November 19th. Finally, 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 research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, CoStar Group presently has an average rating of “Moderate Buy” and a consensus target price of $93.25.

CoStar Group Stock Down 0.8 %

CSGP stock opened at $81.34 on Friday. The company has a 50 day moving average price of $75.86 and a two-hundred day moving average price of $76.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The stock has a market capitalization of $33.35 billion, a P/E ratio of 184.86 and a beta of 0.82. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. CoStar Group’s revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 earnings per share. As a group, sell-side analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current year.

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.