Keefe, Bruyette & Woods Lowers CoStar Group (NASDAQ:CSGP) Price Target to $93.00

CoStar Group (NASDAQ:CSGP) had its target price reduced by stock analysts at Keefe, Bruyette & Woods from $96.00 to $93.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 22.93% from the company’s current price.

Other equities research analysts also recently issued reports about the company. JMP Securities reiterated a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a report on Monday, December 16th. JPMorgan Chase & Co. cut 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. William Blair restated an “outperform” rating on shares of CoStar Group in a report on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of CoStar Group in a report on Monday, December 9th. Finally, Citigroup reduced their target price on CoStar Group from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CoStar Group has an average rating of “Moderate Buy” and an average target price of $92.33.

CoStar Group Trading Down 0.6 %

Shares of NASDAQ CSGP opened at $75.65 on Tuesday. The firm has a 50 day moving average price of $74.76 and a two-hundred day moving average price of $75.41. The stock has a market cap of $31.01 billion, a P/E ratio of 171.94 and a beta of 0.85. 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.

Insider Activity

In related news, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the sale, the insider now owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.57% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. State Street Corp increased its stake in CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after acquiring an additional 722,153 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of CoStar Group by 2.1% during the third quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock worth $850,656,000 after purchasing an additional 236,407 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of CoStar Group by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock worth $202,509,000 after purchasing an additional 76,916 shares during the last quarter. JPMorgan Chase & Co. raised its stake in CoStar Group by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after purchasing an additional 1,001,177 shares in the last quarter. Finally, Barclays PLC lifted its position in CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after purchasing an additional 1,073,793 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

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.