CoStar Group, Inc. (NASDAQ:CSGP) Receives Average Rating of “Moderate Buy” from Analysts

Shares of CoStar Group, Inc. (NASDAQ:CSGP) have been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $93.25.

A number of analysts recently commented on the company. JMP Securities reiterated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Monday. JPMorgan Chase & Co. reduced their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of CoStar Group in a research note on Monday, December 9th. Finally, BMO Capital Markets dropped their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, the insider now owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the sale, the director now directly owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

Hedge Funds Weigh In On CoStar Group

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. increased its position in shares of CoStar Group by 493.4% during the 2nd quarter. Blue Trust Inc. now owns 1,080 shares of the technology company’s stock worth $80,000 after purchasing an additional 898 shares during the last quarter. Fifth Third Bancorp lifted its stake in CoStar Group by 3.9% in the second quarter. Fifth Third Bancorp now owns 8,087 shares of the technology company’s stock valued at $600,000 after acquiring an additional 307 shares during the last quarter. Everhart Financial Group Inc. grew its position in shares of CoStar Group by 8.3% in the 2nd quarter. Everhart Financial Group Inc. now owns 4,470 shares of the technology company’s stock valued at $331,000 after acquiring an additional 342 shares during the period. Baskin Financial Services Inc. increased its stake in shares of CoStar Group by 8.7% during the 2nd quarter. Baskin Financial Services Inc. now owns 280,680 shares of the technology company’s stock worth $20,810,000 after purchasing an additional 22,538 shares during the last quarter. Finally, Atlantic Union Bankshares Corp lifted its stake in CoStar Group by 44.7% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 28,098 shares of the technology company’s stock valued at $2,083,000 after purchasing an additional 8,675 shares during the last quarter. 96.60% of the stock is owned by institutional investors.

CoStar Group Trading Down 3.2 %

CSGP opened at $70.77 on Thursday. CoStar Group has a 1-year low of $68.26 and a 1-year high of $100.38. The firm has a 50-day moving average price of $76.35 and a two-hundred day moving average price of $75.86. The stock has a market capitalization of $29.01 billion, a PE ratio of 160.84 and a beta of 0.83. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

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 analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. CoStar Group’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 earnings per share. As a group, equities analysts anticipate that CoStar Group will post 0.52 earnings per share for the current fiscal 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.