Stephens Reaffirms Overweight Rating for CoStar Group (NASDAQ:CSGP)

Stephens reaffirmed their overweight rating on shares of CoStar Group (NASDAQ:CSGP) in a research note released on Wednesday morning,Benzinga reports. They currently have a $103.00 price objective on the technology company’s stock.

CSGP has been the topic of a number of other reports. BMO Capital Markets lowered their price objective on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. William Blair reissued an “outperform” rating on shares of CoStar Group in a research note on Monday, January 6th. JPMorgan Chase & Co. reduced their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods lowered their target price on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Citigroup cut their price target on CoStar Group from $90.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $92.33.

CoStar Group Stock Up 0.1 %

CSGP opened at $76.60 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The company has a market cap of $31.40 billion, a price-to-earnings ratio of 174.09 and a beta of 0.85. CoStar Group has a one year low of $68.26 and a one year high of $100.38. The business’s fifty day moving average is $74.74 and its two-hundred day moving average is $75.42.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.57% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Ascent Group LLC raised its holdings in shares of CoStar Group by 7.9% in the 2nd quarter. Ascent Group LLC now owns 6,697 shares of the technology company’s stock worth $497,000 after purchasing an additional 490 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in CoStar Group by 10.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 165,066 shares of the technology company’s stock worth $12,238,000 after purchasing an additional 16,084 shares in the last quarter. Quarry LP purchased a new position in CoStar Group in the second quarter valued at approximately $54,000. Sanctuary Advisors LLC acquired a new position in CoStar Group during the second quarter valued at approximately $2,096,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in CoStar Group during the second quarter worth approximately $104,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

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.