CoStar Group (NASDAQ:CSGP) Receives Sector Perform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of CoStar Group (NASDAQ:CSGP - Free Report) in a report issued on Friday morning,Benzinga reports. They currently have a $83.00 price objective on the technology company's stock.

CSGP has been the topic of a number of other research reports. Citigroup decreased 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 note on Thursday, October 24th. StockNews.com upgraded shares of CoStar Group from a "sell" rating to a "hold" rating in a report on Tuesday. William Blair reiterated an "outperform" rating on shares of CoStar Group in a research report on Monday. 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. Finally, Stephens reissued an "overweight" rating and set a $103.00 target price on shares of CoStar Group in a research report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $93.08.

CoStar Group Stock Performance

Shares of CSGP traded down $1.47 on Friday, reaching $69.87. The company's stock had a trading volume of 2,769,196 shares, compared to its average volume of 2,225,880. CoStar Group has a 12-month low of $68.26 and a 12-month high of $100.38. The stock has a market capitalization of $28.64 billion, a P/E ratio of 158.80 and a beta of 0.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The stock's 50 day simple moving average is $75.09 and its two-hundred day simple moving average is $75.43.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. The firm had revenue of $692.60 million during the quarter, compared to analyst estimates 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 period in the prior year, the business posted $0.25 EPS. Research analysts forecast that CoStar Group will post 0.52 earnings per share for the current fiscal year.

Insider Activity at CoStar Group

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CSGP. Bleakley Financial Group LLC grew its holdings in shares of CoStar Group by 1.6% during the third quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company's stock worth $652,000 after purchasing an additional 138 shares during the last quarter. Moran Wealth Management LLC grew its stake in CoStar Group by 2.0% during the 3rd quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company's stock worth $606,000 after buying an additional 161 shares during the last quarter. Elo Mutual Pension Insurance Co lifted its stake in CoStar Group by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company's stock valued at $2,780,000 after buying an additional 188 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in CoStar Group by 1.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company's stock valued at $1,443,000 after buying an additional 209 shares during the last quarter. Finally, Bell Bank boosted its holdings in shares of CoStar Group by 1.3% in the third quarter. Bell Bank now owns 18,232 shares of the technology company's stock valued at $1,375,000 after acquiring an additional 234 shares during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.

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.