nVerses Capital LLC Grows Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

nVerses Capital LLC boosted its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 8,300.0% in the third quarter, Holdings Channel reports. The fund owned 8,400 shares of the technology company’s stock after buying an additional 8,300 shares during the quarter. nVerses Capital LLC’s holdings in CoStar Group were worth $634,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Swedbank AB purchased a new position in CoStar Group in the 1st quarter worth approximately $4,223,000. SG Americas Securities LLC boosted its holdings in CoStar Group by 390.8% in the 1st quarter. SG Americas Securities LLC now owns 99,800 shares of the technology company’s stock worth $9,641,000 after acquiring an additional 79,467 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in CoStar Group by 1.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,675 shares of the technology company’s stock worth $100,046,000 after acquiring an additional 17,658 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in CoStar Group by 5.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 477,691 shares of the technology company’s stock worth $46,145,000 after acquiring an additional 23,987 shares during the period. Finally, Twin Tree Management LP purchased a new position in CoStar Group in the 1st quarter worth approximately $802,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analyst Ratings Changes

CSGP has been the subject of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $107.00 target price on shares of CoStar Group in a research note on Tuesday, September 17th. Bank of America reduced their target price on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Robert W. Baird reduced their target price on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods reduced their target price on CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $96.00 target price on shares of CoStar Group in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.38.

CoStar Group Stock Performance

NASDAQ CSGP traded up $0.73 during trading hours on Thursday, hitting $77.96. The company had a trading volume of 266,019 shares, compared to its average volume of 2,232,819. CoStar Group, Inc. has a fifty-two week low of $67.35 and a fifty-two week high of $100.38. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $76.10 and a 200-day simple moving average of $79.78. The firm has a market cap of $31.83 billion, a P/E ratio of 105.79 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last issued 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 return on equity of 3.99% and a net margin of 8.19%. The firm had revenue of $677.80 million for the quarter, compared to analyst estimates of $677.18 million. During the same period last year, the company earned $0.27 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts predict that CoStar Group, Inc. will post 0.49 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.