5,000 Shares in CoStar Group Inc (CSGP) Acquired by Intrinsic Edge Capital Management LLC

Intrinsic Edge Capital Management LLC bought a new position in shares of CoStar Group Inc (NASDAQ:CSGP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,000 shares of the technology company’s stock, valued at approximately $1,687,000.

Several other institutional investors have also modified their holdings of CSGP. BlackRock Inc. grew its position in CoStar Group by 7.0% during the fourth quarter. BlackRock Inc. now owns 3,061,248 shares of the technology company’s stock valued at $1,032,680,000 after buying an additional 200,620 shares during the period. Vanguard Group Inc grew its position in CoStar Group by 0.3% during the third quarter. Vanguard Group Inc now owns 3,047,482 shares of the technology company’s stock valued at $1,282,503,000 after buying an additional 9,345 shares during the period. Marshall Wace North America L.P. grew its position in CoStar Group by 16.4% during the third quarter. Marshall Wace North America L.P. now owns 548,194 shares of the technology company’s stock valued at $230,702,000 after buying an additional 77,373 shares during the period. JPMorgan Chase & Co. grew its position in CoStar Group by 73.6% during the third quarter. JPMorgan Chase & Co. now owns 478,297 shares of the technology company’s stock valued at $201,288,000 after buying an additional 202,743 shares during the period. Finally, Mackenzie Financial Corp grew its position in CoStar Group by 100.6% during the fourth quarter. Mackenzie Financial Corp now owns 423,354 shares of the technology company’s stock valued at $142,814,000 after buying an additional 212,278 shares during the period. 96.02% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ CSGP opened at $465.49 on Friday. CoStar Group Inc has a 52-week low of $315.85 and a 52-week high of $484.92. The stock has a market capitalization of $16.97 billion, a PE ratio of 62.90, a P/E/G ratio of 3.08 and a beta of 1.46.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, February 26th. The technology company reported $2.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.53 by $0.28. CoStar Group had a net margin of 20.00% and a return on equity of 9.30%. The business had revenue of $315.57 million for the quarter, compared to analyst estimates of $310.19 million. During the same quarter last year, the business earned $1.25 earnings per share. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. Sell-side analysts forecast that CoStar Group Inc will post 9.03 EPS for the current year.

CSGP has been the topic of several analyst reports. Zacks Investment Research lowered shares of CoStar Group from a “buy” rating to a “hold” rating in a research report on Tuesday, December 25th. BidaskClub upgraded shares of CoStar Group from a “sell” rating to a “hold” rating in a research report on Tuesday, January 29th. ValuEngine upgraded shares of CoStar Group from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. SunTrust Banks lifted their target price on shares of CoStar Group to $460.00 and gave the company a “positive” rating in a research report on Wednesday, February 27th. Finally, Wells Fargo & Co lifted their target price on shares of CoStar Group from $475.00 to $500.00 and gave the company an “outperform” rating in a research report on Wednesday, February 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $457.22.

In other news, insider Andrew C. Florance sold 55,322 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $473.38, for a total value of $26,188,328.36. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John W. Hill sold 1,042 shares of the firm’s stock in a transaction dated Wednesday, December 26th. The stock was sold at an average price of $330.88, for a total transaction of $344,776.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,461 shares of company stock worth $31,346,029. Company insiders own 2.47% of the company’s stock.

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CoStar Group Profile

CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that provides inventory of office, industrial, retail, and multifamily properties and land.

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Institutional Ownership by Quarter for CoStar Group (NASDAQ:CSGP)

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