CoStar Group (NASDAQ:CSGP) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of CoStar Group (NASDAQ:CSGP) from a hold rating to a sell rating in a report released on Monday.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Needham & Company LLC dropped their price objective on shares of CoStar Group from $107.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. BMO Capital Markets reduced their target price on 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. Bank of America dropped their price target on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Finally, Keefe, Bruyette & Woods decreased their price objective on CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and an average price target of $93.25.

CoStar Group Stock Down 0.9 %

Shares of NASDAQ:CSGP opened at $72.79 on Monday. The company has a market cap of $29.84 billion, a price-to-earnings ratio of 165.43 and a beta of 0.81. CoStar Group has a one year low of $68.26 and a one year high of $100.38. The firm has a fifty day moving average price of $76.31 and a two-hundred day moving average price of $78.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The business had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same period in the previous year, the business earned $0.25 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. Analysts anticipate that CoStar Group will post 0.52 EPS for the current fiscal year.

Insider Activity

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction on 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 sale, the director now owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew C. Florance acquired 14,731 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was acquired at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the transaction, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.57% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Crewe Advisors LLC bought a new position in shares of CoStar Group in the 1st quarter worth approximately $31,000. RiverPark Advisors LLC purchased a new stake in CoStar Group in the first quarter worth $37,000. Industrial Alliance Investment Management Inc. bought a new position in CoStar Group in the second quarter worth $49,000. Quarry LP purchased a new position in CoStar Group during the second quarter valued at $54,000. Finally, Covestor Ltd boosted 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 buying an additional 211 shares in 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.