CoStar Group, Inc. (NASDAQ:CSGP) Director Sells $5,350,268.77 in Stock

CoStar Group, Inc. (NASDAQ:CSGP) Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the sale, the director now directly owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $73.46 on Thursday. The company has a 50-day moving average of $76.37 and a 200-day moving average of $78.54. The firm has a market cap of $30.12 billion, a price-to-earnings ratio of 166.96 and a beta of 0.81. The company has a current ratio of 9.63, a quick 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.

CoStar Group (NASDAQ:CSGP) last issued 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 firm had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. CoStar Group’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. Analysts forecast that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CoStar Group

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

Analysts Set New Price Targets

Several brokerages recently issued reports on CSGP. Citigroup reduced their price objective on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. BMO Capital Markets lowered their price objective on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. The Goldman Sachs Group cut their target price on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Bank of America lowered their price target on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, CoStar Group has a consensus rating of “Moderate Buy” and an average price target of $93.25.

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.