Assenagon Asset Management S.A. Purchases 113,925 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Assenagon Asset Management S.A. raised its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 39.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 401,366 shares of the technology company’s stock after buying an additional 113,925 shares during the quarter. Assenagon Asset Management S.A.’s holdings in CoStar Group were worth $28,734,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Pallas Capital Advisors LLC grew its holdings in CoStar Group by 40.1% during the fourth quarter. Pallas Capital Advisors LLC now owns 6,480 shares of the technology company’s stock worth $464,000 after acquiring an additional 1,854 shares during the period. Czech National Bank increased its stake in CoStar Group by 6.5% during the 4th quarter. Czech National Bank now owns 88,888 shares of the technology company’s stock worth $6,363,000 after buying an additional 5,404 shares in the last quarter. Graypoint LLC purchased a new position in CoStar Group in the 4th quarter valued at $234,000. ORG Wealth Partners LLC acquired a new stake in CoStar Group in the 4th quarter valued at about $178,000. Finally, ORG Partners LLC lifted its position in CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after buying an additional 353 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Price Performance

Shares of CSGP opened at $73.42 on Friday. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The firm has a market capitalization of $30.10 billion, a price-to-earnings ratio of 166.87 and a beta of 0.85. The stock’s fifty day moving average is $74.80 and its 200-day moving average is $75.34. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63.

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

Insider Activity

In related news, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew C. Florance purchased 14,731 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were purchased at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the acquisition, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CSGP has been the subject of several research analyst reports. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday. JPMorgan Chase & Co. dropped their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Stephens reaffirmed an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a report on Thursday, January 2nd. JMP Securities restated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Finally, Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of CoStar Group in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, CoStar Group presently has an average rating of “Moderate Buy” and a consensus target price of $92.92.

CoStar Group Company 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.