Metis Global Partners LLC Has $1.36 Million Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Metis Global Partners LLC grew its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 5.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,008 shares of the technology company’s stock after purchasing an additional 861 shares during the period. Metis Global Partners LLC’s holdings in CoStar Group were worth $1,359,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Crewe Advisors LLC bought a new stake in shares of CoStar Group in the first quarter valued at approximately $31,000. Ashton Thomas Securities LLC acquired a new position in CoStar Group in the 3rd quarter valued at $40,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of CoStar Group during the 2nd quarter valued at $49,000. Covestor Ltd grew its holdings in shares of CoStar Group by 43.0% during the 1st quarter. Covestor Ltd now owns 702 shares of the technology company’s stock worth $68,000 after purchasing an additional 211 shares in the last quarter. Finally, Quarry LP bought a new position in shares of CoStar Group in the second quarter worth $54,000. 96.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CSGP has been the subject of several recent analyst reports. Needham & Company LLC cut their price objective on shares of CoStar Group from $107.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. Citigroup decreased 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 note on Thursday, October 24th. Robert W. Baird lowered their price objective on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group decreased their price target on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. One 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.25.

Insiders Place Their Bets

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the sale, the director now owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. The trade was a 3.61 % decrease in their position. The sale was disclosed in a document filed 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 on Friday, October 25th. The stock was acquired at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the purchase, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, 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.

CoStar Group Price Performance

CoStar Group stock opened at $71.25 on Friday. The company has a market capitalization of $29.21 billion, a PE ratio of 161.93 and a beta of 0.82. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $75.82 and a two-hundred day moving average price of $77.52. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The business’s quarterly revenue was up 10.9% on a year-over-year basis. Analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current 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.