CoStar Group, Inc. (NASDAQ:CSGP) CAO Sells $139,745.10 in Stock

CoStar Group, Inc. (NASDAQ:CSGP - Get Free Report) CAO Cynthia Cammett Cann sold 1,749 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the sale, the chief accounting officer now directly owns 29,456 shares of the company's stock, valued at $2,353,534.40. This represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

CoStar Group Trading Down 2.2 %

Shares of NASDAQ:CSGP traded down $1.79 during midday trading on Tuesday, hitting $78.36. The company had a trading volume of 2,733,731 shares, compared to its average volume of 2,547,931. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a market cap of $32.14 billion, a price-to-earnings ratio of 223.89 and a beta of 0.93. The firm has a fifty day simple moving average of $75.50 and a 200 day simple moving average of $75.68.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The business had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. On average, analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current year.

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CoStar Group declared that its board has authorized a stock buyback program on Tuesday, February 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bamco Inc. NY lifted its holdings in CoStar Group by 2.2% during the fourth quarter. Bamco Inc. NY now owns 19,203,564 shares of the technology company's stock worth $1,374,783,000 after acquiring an additional 418,128 shares in the last quarter. State Street Corp lifted 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 in the last quarter. Capital International Investors lifted its holdings in CoStar Group by 44.9% during the fourth quarter. Capital International Investors now owns 14,032,363 shares of the technology company's stock worth $1,004,578,000 after acquiring an additional 4,345,267 shares in the last quarter. Geode Capital Management LLC lifted its holdings in CoStar Group by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 11,475,755 shares of the technology company's stock worth $819,678,000 after acquiring an additional 166,769 shares in the last quarter. Finally, Akre Capital Management LLC raised its stake in shares of CoStar Group by 4.3% in the 4th quarter. Akre Capital Management LLC now owns 9,313,880 shares of the technology company's stock valued at $666,781,000 after purchasing an additional 379,787 shares during the period. 96.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CSGP shares. JPMorgan Chase & Co. dropped their price target on CoStar Group from $99.00 to $87.00 and set an "overweight" rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $83.00 price target on shares of CoStar Group in a report on Wednesday, February 19th. The Goldman Sachs Group started coverage on CoStar Group in a report on Friday, February 28th. They set a "buy" rating for the company. William Blair began coverage on CoStar Group in a report on Friday, February 28th. They set a "market perform" rating for the company. Finally, Needham & Company LLC lowered their target price on CoStar Group from $100.00 to $87.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.07.

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.