CoStar Group, Inc. (NASDAQ:CSGP) Insider Michael J. Desmarais Sells 5,500 Shares

CoStar Group, Inc. (NASDAQ:CSGP) insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares in the company, valued at $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

CoStar Group Stock Performance

Shares of CSGP opened at $81.34 on Friday. The company’s 50 day moving average price is $75.86 and its 200 day moving average price is $76.66. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The company has a market capitalization of $33.35 billion, a PE ratio of 184.86 and a beta of 0.82. 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 announced its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $695.91 million. During the same period in the previous year, the firm posted $0.25 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. Research analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. BMO Capital Markets dropped their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a research report on Tuesday, November 19th. Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Finally, Citigroup dropped their target price on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSGP. State Street Corp grew its position in CoStar Group by 4.4% in 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 in the last quarter. Geode Capital Management LLC grew its position in CoStar Group by 2.1% in the third quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock worth $850,656,000 after acquiring an additional 236,407 shares in the last quarter. Bank of New York Mellon Corp grew its position in CoStar Group by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock worth $453,534,000 after acquiring an additional 124,761 shares in the last quarter. Vulcan Value Partners LLC grew its position in 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 worth $306,831,000 after acquiring an additional 1,961,917 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in CoStar Group by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock worth $202,509,000 after acquiring an additional 76,916 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other 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.