Telemark Asset Management LLC Buys 150,000 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Telemark Asset Management LLC grew its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 42.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 500,000 shares of the technology company’s stock after acquiring an additional 150,000 shares during the quarter. CoStar Group comprises approximately 3.8% of Telemark Asset Management LLC’s investment portfolio, making the stock its 6th largest holding. Telemark Asset Management LLC owned about 0.12% of CoStar Group worth $37,720,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CSGP. Ashton Thomas Securities LLC acquired a new position in CoStar Group in the 3rd quarter worth approximately $40,000. Swedbank AB acquired a new position in CoStar Group in the 1st quarter worth approximately $4,223,000. Gateway Investment Advisers LLC increased its holdings in CoStar Group by 31.1% in the 2nd quarter. Gateway Investment Advisers LLC now owns 40,525 shares of the technology company’s stock worth $3,005,000 after buying an additional 9,618 shares during the period. First Hawaiian Bank increased its holdings in CoStar Group by 111.9% in the 2nd quarter. First Hawaiian Bank now owns 16,726 shares of the technology company’s stock worth $1,240,000 after buying an additional 8,833 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in CoStar Group by 248.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 369,291 shares of the technology company’s stock worth $27,379,000 after buying an additional 263,234 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction 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 directly owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. This trade represents a 3.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew C. Florance bought 14,731 shares of the business’s stock in a transaction on Friday, October 25th. The stock was bought at an average cost 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 in the company, valued at approximately $94,315,527.66. The trade was a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CSGP shares. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of CoStar Group in a research report on Tuesday. Citigroup lowered their price objective 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. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Royal Bank of Canada lowered 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 research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

CoStar Group Trading Up 0.9 %

Shares of NASDAQ:CSGP opened at $76.99 on Friday. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. The firm has a market capitalization of $31.56 billion, a price-to-earnings ratio of 174.98 and a beta of 0.82. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The business’s 50 day moving average price is $75.47 and its 200-day moving average price is $77.07.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $692.60 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 EPS. On average, equities research analysts forecast that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal 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.