Artemis Investment Management LLP Acquires New Shares in CoStar Group, Inc. (NASDAQ:CSGP)

Artemis Investment Management LLP acquired a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 385,742 shares of the technology company’s stock, valued at approximately $37,243,000. Artemis Investment Management LLP owned about 0.09% of CoStar Group at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Bamco Inc. NY raised its holdings in CoStar Group by 0.5% during the third quarter. Bamco Inc. NY now owns 19,196,502 shares of the technology company’s stock valued at $1,476,019,000 after buying an additional 91,399 shares in the last quarter. Norges Bank bought a new position in shares of CoStar Group in the fourth quarter worth about $406,934,000. Brown Advisory Inc. increased its stake in shares of CoStar Group by 10.1% in the fourth quarter. Brown Advisory Inc. now owns 4,144,721 shares of the technology company’s stock worth $362,207,000 after purchasing an additional 380,859 shares during the period. Capital International Investors increased its stake in shares of CoStar Group by 32.2% in the fourth quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock worth $352,759,000 after purchasing an additional 982,837 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of CoStar Group by 22.7% in the third quarter. Wellington Management Group LLP now owns 3,580,549 shares of the technology company’s stock worth $275,308,000 after purchasing an additional 662,592 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CSGP. JMP Securities restated a “market outperform” rating and set a $110.00 price target on shares of CoStar Group in a research note on Tuesday, June 18th. Jefferies Financial Group boosted their price target on CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, April 12th. BMO Capital Markets boosted their price target on CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research note on Thursday, April 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $109.00 price objective on shares of CoStar Group in a report on Friday, June 7th. Finally, The Goldman Sachs Group lifted their price objective on CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Four research analysts have rated the stock with a hold rating and twelve have given 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 a consensus target price of $102.46.

Insiders Place Their Bets

In other CoStar Group news, insider Michael J. Desmarais sold 3,800 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $92.67, for a total transaction of $352,146.00. Following the transaction, the insider now owns 64,087 shares of the company’s stock, valued at approximately $5,938,942.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other CoStar Group news, insider Michael J. Desmarais sold 3,800 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $92.67, for a total transaction of $352,146.00. Following the completion of the sale, the insider now owns 64,087 shares in the company, valued at approximately $5,938,942.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott T. Wheeler sold 122,736 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the sale, the chief financial officer now owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

CoStar Group Trading Down 0.2 %

NASDAQ:CSGP traded down $0.12 during trading hours on Friday, hitting $74.14. 6,440,347 shares of the stock were exchanged, compared to its average volume of 2,262,230. The company’s 50 day moving average is $83.18 and its two-hundred day moving average is $85.70. CoStar Group, Inc. has a twelve month low of $67.35 and a twelve month high of $100.38. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $30.27 billion, a P/E ratio of 101.73, a price-to-earnings-growth ratio of 10.85 and a beta of 0.83.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, April 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.05. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The firm had revenue of $656.40 million for the quarter, compared to the consensus estimate of $649.27 million. On average, sell-side analysts anticipate that CoStar Group, Inc. will post 0.45 earnings per share for the current fiscal year.

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.