Tidal Investments LLC Raises Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Tidal Investments LLC boosted its position in CoStar Group, Inc. (NASDAQ:CSGP) by 292.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 73,184 shares of the technology company’s stock after purchasing an additional 54,515 shares during the quarter. Tidal Investments LLC’s holdings in CoStar Group were worth $5,521,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CEO Andrew C. Florance acquired 14,731 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were acquired at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the purchase, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. The trade was a 1.18 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.69, for a total value of $5,350,268.77. Following the completion of the sale, the director now owns 1,913,501 shares in the company, valued at $142,919,389.69. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

CoStar Group Stock Performance

Shares of NASDAQ:CSGP opened at $75.07 on Friday. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The company has a market cap of $30.78 billion, a price-to-earnings ratio of 170.62 and a beta of 0.83. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The company has a 50-day moving average price of $76.45 and a 200-day moving average price of $76.03.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. The business 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 revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 earnings per share. As a group, equities analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current year.

Wall Street Analyst Weigh In

CSGP has been the subject of several research reports. Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $96.00 to $83.00 in a research report on Wednesday, October 23rd. BMO Capital Markets reduced their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Needham & Company LLC reissued 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. cut 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 downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.