Quantinno Capital Management LP Acquires 6,175 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Quantinno Capital Management LP grew its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 70.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,926 shares of the technology company’s stock after buying an additional 6,175 shares during the period. Quantinno Capital Management LP’s holdings in CoStar Group were worth $1,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CSGP. Sequoia Financial Advisors LLC raised its holdings in shares of CoStar Group by 9.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,928 shares of the technology company’s stock worth $439,000 after acquiring an additional 504 shares in the last quarter. Diversified Trust Co bought a new stake in CoStar Group during the second quarter worth approximately $202,000. Envestnet Portfolio Solutions Inc. lifted its stake in shares of CoStar Group by 8.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 52,684 shares of the technology company’s stock valued at $3,906,000 after purchasing an additional 4,143 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of 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 purchasing an additional 263,234 shares during the period. Finally, Triad Wealth Partners LLC purchased a new stake in CoStar Group during the 2nd quarter valued at $119,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insiders Place Their Bets

In related news, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on CSGP shares. BMO Capital Markets cut their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. JMP Securities reiterated a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a report on Friday, September 6th. Citigroup cut their price objective on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of CoStar Group in a research report on Monday. One equities 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $93.25.

CoStar Group Stock Performance

CSGP opened at $78.25 on Friday. The firm has a market capitalization of $32.08 billion, a PE ratio of 177.84 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 firm has a 50 day moving average of $76.35 and a two-hundred day moving average of $76.09. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last released its quarterly 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. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The company had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. During the same quarter last year, the business earned $0.25 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. On average, analysts anticipate that CoStar Group, Inc. will post 0.52 EPS 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.