CoStar Group (NASDAQ:CSGP) Stock Price Up 5.3% – What’s Next?

CoStar Group, Inc. (NASDAQ:CSGP) rose 5.3% during trading on Wednesday . The stock traded as high as $76.08 and last traded at $75.91. Approximately 2,565,185 shares traded hands during trading, an increase of 7% from the average daily volume of 2,388,720 shares. The stock had previously closed at $72.09.

Analysts Set New Price Targets

Several research firms have recently weighed in on CSGP. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. The Goldman Sachs Group dropped 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. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a research report on Tuesday. Royal Bank of Canada lowered CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Finally, JMP Securities reissued a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. One equities 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 stock. Based on data from MarketBeat, CoStar Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

CoStar Group Trading Up 5.8 %

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 50 day moving average of $75.56 and a 200 day moving average of $77.08. The stock has a market capitalization of $31.27 billion, a price-to-earnings ratio of 167.28 and a beta of 0.82.

CoStar Group (NASDAQ:CSGP) last released 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 business had revenue of $692.60 million during 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%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 EPS. On average, research analysts predict that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Insider Activity at CoStar Group

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the business’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 value of $5,350,268.77. Following the completion of the sale, the director now owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew C. Florance acquired 14,731 shares of CoStar Group stock in a transaction on Friday, October 25th. The stock was purchased at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the purchase, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. The trade was a 1.18 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CSGP. Vulcan Value Partners LLC increased its holdings in shares of 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 valued at $306,831,000 after purchasing an additional 1,961,917 shares during the period. Janus Henderson Group PLC increased its holdings in shares of CoStar Group by 17.7% in the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after purchasing an additional 1,773,564 shares during the period. Barclays PLC increased its holdings in shares of CoStar Group by 91.4% in the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after purchasing an additional 1,073,793 shares during the period. Select Equity Group L.P. acquired a new position in CoStar Group during the second quarter worth $60,761,000. Finally, State Street Corp grew its holdings in CoStar Group by 4.4% during the third quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after acquiring an additional 722,153 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

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.