Verition Fund Management LLC Has $4.05 Million Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Verition Fund Management LLC increased its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 57.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,737 shares of the technology company’s stock after acquiring an additional 19,668 shares during the quarter. Verition Fund Management LLC’s holdings in CoStar Group were worth $4,054,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in CoStar Group during the third quarter valued at approximately $40,000. Gateway Investment Advisers LLC grew its position in CoStar Group by 31.1% during the second quarter. Gateway Investment Advisers LLC now owns 40,525 shares of the technology company’s stock valued at $3,005,000 after purchasing an additional 9,618 shares in the last quarter. Telemark Asset Management LLC grew its position in CoStar Group by 42.9% during the third quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock valued at $37,720,000 after purchasing an additional 150,000 shares in the last quarter. Swedbank AB grew its position in CoStar Group by 469.3% during the third quarter. Swedbank AB now owns 248,043 shares of the technology company’s stock valued at $18,712,000 after purchasing an additional 204,474 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in CoStar Group by 16.2% during the third quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock valued at $7,812,000 after purchasing an additional 14,468 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insider Activity at CoStar Group

In other news, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the transaction, the insider now owns 58,798 shares in the company, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew C. Florance acquired 14,731 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was acquired at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the purchase, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.57% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on CSGP shares. JMP Securities reissued a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research report on Friday, September 6th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a research report on Tuesday, November 19th. BMO Capital Markets decreased their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. decreased their target price 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. Finally, Citigroup decreased their target price on shares of 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 given a buy rating to the company’s stock. According to MarketBeat.com, CoStar Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

CoStar Group Price Performance

NASDAQ:CSGP opened at $80.15 on Wednesday. The stock has a market cap of $32.86 billion, a P/E ratio of 182.16 and a beta of 0.83. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The company has a fifty day moving average price of $75.99 and a 200 day moving average price of $76.39. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last released its earnings results 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 firm had revenue of $692.60 million during 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 business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. Analysts anticipate that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

CoStar Group 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.