CoStar Group, Inc. (NASDAQ:CSGP) Insider Michael J. Desmarais Sells 3,800 Shares of Stock

CoStar Group, Inc. (NASDAQ:CSGP) insider Michael J. Desmarais sold 3,800 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $92.67, for a total transaction of $352,146.00. Following the transaction, the insider now directly owns 64,087 shares of the company’s stock, valued at approximately $5,938,942.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $91.53 on Wednesday. CoStar Group, Inc. has a twelve month low of $67.35 and a twelve month high of $100.38. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $37.38 billion, a price-to-earnings ratio of 125.38, a PEG ratio of 10.37 and a beta of 0.84. The firm has a 50-day moving average of $90.20 and a two-hundred day moving average of $84.96.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The company had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.27 million. During the same period in the prior year, the company earned $0.35 EPS. CoStar Group’s revenue was up 11.7% on a year-over-year basis. As a group, analysts expect that CoStar Group, Inc. will post 0.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CSGP shares. BMO Capital Markets boosted their price target on shares of CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a report on Thursday, April 25th. William Blair reissued an “outperform” rating on shares of CoStar Group in a report on Wednesday, April 24th. Jefferies Financial Group boosted their price target on shares of CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, April 12th. Citigroup upped their price objective on shares of CoStar Group from $90.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of CoStar Group from $96.00 to $109.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and an average target price of $102.46.

Institutional Trading of CoStar Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its holdings in CoStar Group by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,808,306 shares of the technology company’s stock worth $1,523,061,000 after buying an additional 761,383 shares during the period. Bamco Inc. NY raised its holdings in CoStar Group by 0.5% during the 3rd quarter. Bamco Inc. NY now owns 19,196,502 shares of the technology company’s stock worth $1,476,019,000 after buying an additional 91,399 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in CoStar Group by 5.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,967,040 shares of the technology company’s stock worth $920,146,000 after buying an additional 596,595 shares during the period. Artisan Partners Limited Partnership raised its holdings in CoStar Group by 6.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 5,569,718 shares of the technology company’s stock worth $428,256,000 after buying an additional 319,960 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in CoStar Group by 4.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,528,098 shares of the technology company’s stock worth $425,056,000 after buying an additional 218,094 shares during the period. Institutional investors and hedge funds 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.