CoStar Group, Inc. (NASDAQ:CSGP) Insider Michael J. Desmarais Sells 5,500 Shares

CoStar Group, Inc. (NASDAQ:CSGP) insider Michael J. Desmarais sold 5,500 shares of CoStar Group 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 transaction, the insider now directly owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

CoStar Group Stock Up 2.6 %

Shares of CoStar Group stock opened at $81.97 on Thursday. 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, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38. The company has a market cap of $33.60 billion, a price-to-earnings ratio of 186.30 and a beta of 0.82. The company’s 50 day moving average is $75.72 and its 200 day moving average is $76.68.

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, topping 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 firm had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. During the same period last year, the business posted $0.25 EPS. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. Research analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CSGP shares. Citigroup decreased their target price on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. lowered their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. BMO Capital Markets reduced their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Finally, JMP Securities restated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $93.25.

Institutional Investors Weigh In On CoStar Group

A number of large investors have recently made changes to their positions in CSGP. State Street Corp lifted its stake in shares of 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 purchasing an additional 722,153 shares during the period. Geode Capital Management LLC increased its holdings in 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 valued at $850,656,000 after buying an additional 236,407 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in CoStar Group by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock valued at $453,534,000 after buying an additional 124,761 shares during the last quarter. Vulcan Value Partners LLC raised its position in CoStar Group by 90.1% in the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock worth $306,831,000 after acquiring an additional 1,961,917 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of CoStar Group by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock worth $202,509,000 after acquiring an additional 76,916 shares during the last quarter. 96.60% of the stock is currently 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.