CoStar Group, Inc. (NASDAQ:CSGP) CEO Acquires $1,099,963.77 in Stock

CoStar Group, Inc. (NASDAQ:CSGP) CEO Andrew C. Florance acquired 14,731 shares of CoStar Group stock in a transaction on Friday, October 25th. The shares were bought at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the transaction, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

CoStar Group Stock Up 0.3 %

Shares of NASDAQ CSGP opened at $73.46 on Thursday. The stock has a market capitalization of $30.12 billion, a P/E ratio of 166.96 and a beta of 0.81. The stock’s fifty day moving average is $76.37 and its 200 day moving average is $78.54. CoStar Group, Inc. 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.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The firm had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. During the same period last year, the firm earned $0.25 EPS. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. Sell-side analysts forecast that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on CSGP shares. Keefe, Bruyette & Woods cut their target price on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. JMP Securities restated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a report on Friday, September 6th. BMO Capital Markets decreased their target price on 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. Needham & Company LLC dropped their price target on CoStar Group from $107.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group decreased their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $93.25.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new position in shares of CoStar Group in the 1st quarter valued at $31,000. RiverPark Advisors LLC bought a new position in CoStar Group in the first quarter valued at about $37,000. Industrial Alliance Investment Management Inc. bought a new position in shares of CoStar Group in the second quarter worth about $49,000. Quarry LP acquired a new stake in shares of CoStar Group in the 2nd quarter valued at approximately $54,000. Finally, Covestor Ltd grew its holdings in shares of CoStar Group by 43.0% during the 1st quarter. Covestor Ltd now owns 702 shares of the technology company’s stock valued at $68,000 after purchasing an additional 211 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

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.