CoStar Group (NASDAQ:CSGP) Upgraded at StockNews.com

StockNews.com upgraded shares of CoStar Group (NASDAQ:CSGP) from a sell rating to a hold rating in a report issued on Tuesday morning.

A number of other analysts have also commented on CSGP. Citigroup cut their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. William Blair restated an “outperform” rating on shares of CoStar Group in a research note on Monday. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Monday, December 16th. Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $96.00 to $83.00 in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.08.

CoStar Group Price Performance

Shares of CSGP opened at $71.34 on Tuesday. The stock has a 50 day simple moving average of $75.09 and a 200 day simple moving average of $75.43. CoStar Group has a 52-week low of $68.26 and a 52-week high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The firm has a market capitalization of $29.25 billion, a PE ratio of 162.14 and a beta of 0.85.

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

Insider Transactions at CoStar Group

In related news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew C. Florance purchased 14,731 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was acquired at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the purchase, the chief executive officer now owns 1,263,098 shares in the company, valued at $94,315,527.66. This trade represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is owned by company insiders.

Institutional Trading of CoStar Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new stake in CoStar Group during the third quarter worth approximately $40,000. Quarry LP acquired a new stake in CoStar Group during the 2nd quarter worth approximately $54,000. Brooklyn Investment Group acquired a new stake in CoStar Group during the 3rd quarter worth approximately $91,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in CoStar Group in the 2nd quarter valued at $104,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in CoStar Group by 55.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,374 shares of the technology company’s stock valued at $104,000 after buying an additional 488 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

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.