Worldquant Millennium Quantitative Strategies LLC grew its position in shares of CoStar Group Inc (NASDAQ:CSGP) by 24.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,742 shares of the technology company’s stock after purchasing an additional 531 shares during the quarter. Worldquant Millennium Quantitative Strategies LLC’s holdings in CoStar Group were worth $925,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. D. E. Shaw & Co. Inc. increased its holdings in shares of CoStar Group by 312.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 9,540 shares of the technology company’s stock valued at $3,218,000 after acquiring an additional 14,040 shares in the last quarter. BlackRock Inc. grew its holdings in CoStar Group by 1.4% during the third quarter. BlackRock Inc. now owns 2,860,628 shares of the technology company’s stock worth $1,203,866,000 after buying an additional 39,951 shares in the last quarter. Gateway Investment Advisers LLC bought a new stake in CoStar Group during the fourth quarter worth $7,456,000. American Assets Capital Advisers LLC bought a new stake in CoStar Group during the fourth quarter worth $8,096,000. Finally, Cigna Investments Inc. New bought a new stake in CoStar Group during the fourth quarter worth $366,000. 96.93% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on CSGP. BidaskClub upgraded CoStar Group from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. Zacks Investment Research downgraded CoStar Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 25th. Bank of America reiterated a “buy” rating and set a $460.00 price target (up previously from $429.00) on shares of CoStar Group in a report on Wednesday, February 27th. B. Riley boosted their price objective on CoStar Group from $460.00 to $512.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. Finally, ValuEngine raised CoStar Group from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. CoStar Group has a consensus rating of “Buy” and an average target price of $457.22.
CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 26th. The technology company reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.27. CoStar Group had a return on equity of 9.30% and a net margin of 20.00%. The firm had revenue of $315.57 million for the quarter, compared to analysts’ expectations of $310.19 million. During the same quarter in the prior year, the firm earned $1.25 EPS. The business’s revenue for the quarter was up 24.2% compared to the same quarter last year. As a group, research analysts forecast that CoStar Group Inc will post 9.03 earnings per share for the current fiscal year.
In related news, CFO Scott T. Wheeler sold 5,396 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $476.11, for a total transaction of $2,569,089.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew C. Florance sold 55,322 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $473.38, for a total value of $26,188,328.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,419 shares of company stock worth $31,001,252. 2.47% of the stock is currently owned by corporate insiders.
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About CoStar Group
CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.
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