CoStar Group’s (CSGP) Outperform Rating Reaffirmed at William Blair

William Blair reaffirmed their outperform rating on shares of CoStar Group (NASDAQ:CSGP) in a research note issued to investors on Monday,RTT News reports.

A number of other analysts have also weighed in on the stock. JMP Securities restated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Royal Bank of Canada downgraded CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $96.00 to $83.00 in a research report on Wednesday, October 23rd. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Stephens reissued an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a report on Thursday, January 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of CoStar Group in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and a consensus target price of $93.08.

CoStar Group Trading Down 1.4 %

CSGP stock opened at $71.21 on Monday. The business has a fifty day moving average price of $75.22 and a 200 day moving average price of $75.51. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The stock has a market capitalization of $29.19 billion, a price-to-earnings ratio of 161.84 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The business had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same period in the previous year, the business posted $0.25 earnings per share. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. Analysts expect that CoStar Group will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling

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, CEO Andrew C. Florance bought 14,731 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The stock was bought at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the purchase, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $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 currently owned by company insiders.

Institutional Investors Weigh In On CoStar Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CSGP. Bleakley Financial Group LLC boosted its position in CoStar Group by 1.6% during the third quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock valued at $652,000 after purchasing an additional 138 shares during the last quarter. Moran Wealth Management LLC grew its position in shares of CoStar Group by 2.0% in the 3rd quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock valued at $606,000 after acquiring an additional 161 shares during the period. Elo Mutual Pension Insurance Co increased its stake in shares of CoStar Group by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock worth $2,780,000 after purchasing an additional 188 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in shares of CoStar Group by 1.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock valued at $1,443,000 after purchasing an additional 209 shares during the period. Finally, Bell Bank lifted its stake in CoStar Group by 1.3% in the 3rd quarter. Bell Bank now owns 18,232 shares of the technology company’s stock valued at $1,375,000 after purchasing an additional 234 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

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.