CoStar Group, Inc. (NASDAQ:CSGP) Insider Sells $439,340.00 in Stock

CoStar Group, Inc. (NASDAQ:CSGP) insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction 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 transaction, the insider now owns 58,798 shares in the company, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CoStar Group Trading Down 0.8 %

Shares of NASDAQ:CSGP opened at $81.34 on Friday. The company has a market cap of $33.35 billion, a PE ratio of 184.86 and a beta of 0.82. The company’s 50-day moving average price is $75.86 and its 200 day moving average price is $76.66. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data 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. The firm had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. CoStar Group’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted $0.25 EPS. Sell-side analysts anticipate that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

Institutional Trading of CoStar Group

A number of hedge funds and other institutional investors have recently made changes to their positions in CSGP. Ashton Thomas Securities LLC bought a new stake in shares of CoStar Group during the 3rd quarter worth about $40,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of CoStar Group during the 2nd quarter worth about $49,000. Quarry LP bought a new stake in shares of CoStar Group during the 2nd quarter worth about $54,000. Rothschild Investment LLC bought a new stake in shares of CoStar Group during the 2nd quarter worth about $73,000. Finally, Blue Trust Inc. raised 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 buying an additional 898 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on CSGP shares. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of CoStar Group in a research note on Tuesday, November 19th. BMO Capital Markets reduced their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. Citigroup decreased their price target on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Finally, Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $96.00 to $83.00 in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, CoStar Group has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

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.