Artemis Investment Management LLP Sells 225,282 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Artemis Investment Management LLP lessened its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 40.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 331,649 shares of the technology company’s stock after selling 225,282 shares during the quarter. Artemis Investment Management LLP’s holdings in CoStar Group were worth $25,020,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of CoStar Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock worth $6,322,615,000 after purchasing an additional 541,700 shares during the last quarter. Janus Henderson Group PLC increased its position in CoStar Group by 17.7% during the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock worth $1,140,650,000 after buying an additional 1,773,564 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in CoStar Group by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock valued at $453,534,000 after buying an additional 124,761 shares in the last quarter. Blair William & Co. IL lifted its position in shares of CoStar Group by 0.6% in the first quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company’s stock worth $426,951,000 after buying an additional 26,800 shares during the last quarter. Finally, Vulcan Value Partners LLC boosted its stake in shares of CoStar Group by 90.1% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock worth $306,831,000 after acquiring an additional 1,961,917 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Price Performance

CoStar Group stock opened at $75.15 on Wednesday. The business has a 50 day simple moving average of $75.99 and a 200 day simple moving average of $80.63. CoStar Group, Inc. has a one year low of $67.35 and a one year high of $100.38. The company has a market capitalization of $30.69 billion, a PE ratio of 102.95 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.06. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The business had revenue of $677.80 million for the quarter, compared to analyst estimates of $677.18 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts forecast that CoStar Group, Inc. will post 0.49 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on CSGP. JPMorgan Chase & Co. boosted their target price on CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Royal Bank of Canada restated an “outperform” rating and issued a $96.00 price objective on shares of CoStar Group in a research note on Tuesday, September 10th. Needham & Company LLC reiterated a “buy” rating and issued a $107.00 target price on shares of CoStar Group in a research note on Tuesday, September 17th. StockNews.com raised shares of CoStar Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods dropped their price objective on CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.38.

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.