CoStar Group’s (CSGP) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

CoStar Group (NASDAQ:CSGP)‘s stock had its “sector perform” rating restated by stock analysts at Royal Bank of Canada in a report issued on Friday,Benzinga reports. They currently have a $83.00 price target on the technology company’s stock. Royal Bank of Canada’s target price points to a potential upside of 18.88% from the stock’s previous close.

Several other brokerages also recently commented on CSGP. JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research note on Monday, December 16th. William Blair reissued an “outperform” rating on shares of CoStar Group in a research report on Monday. StockNews.com raised shares of CoStar Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Citigroup reduced their target price 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, BMO Capital Markets reduced their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.08.

CoStar Group Trading Down 2.1 %

Shares of CSGP traded down $1.52 on Friday, reaching $69.82. 898,935 shares of the company’s stock were exchanged, compared to its average volume of 1,894,720. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $28.62 billion, a P/E ratio of 158.69 and a beta of 0.85. The business has a 50 day moving average price of $75.09 and a two-hundred day moving average price of $75.43. CoStar Group has a 12 month low of $68.26 and a 12 month high of $100.38.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $692.60 million during 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 revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 earnings per share. Research analysts anticipate that CoStar Group will post 0.52 earnings per share for the current year.

Insider Transactions at CoStar Group

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.69, for a total value of $5,350,268.77. Following the transaction, the director now directly owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. This trade represents a 3.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares in the company, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CoStar Group

Hedge funds have recently bought and sold shares of the company. ORG Partners LLC increased its holdings in CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after buying an additional 353 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of CoStar Group in the 3rd quarter valued at approximately $40,000. Quarry LP acquired a new stake in shares of CoStar Group in the 2nd quarter valued at approximately $54,000. Brooklyn Investment Group acquired a new stake in shares of CoStar Group in the 3rd quarter valued at approximately $91,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in CoStar Group by 55.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,374 shares of the technology company’s stock worth $104,000 after buying an additional 488 shares during the period. 96.60% of the stock is owned by institutional investors.

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.