CoStar Group, Inc. (NASDAQ:CSGP) Given Average Rating of "Moderate Buy" by Analysts

CoStar Group, Inc. (NASDAQ:CSGP - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the fourteen analysts that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $93.25.

A number of brokerages have recently weighed in on CSGP. Needham & Company LLC reduced their price target on shares of CoStar Group from $107.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada cut CoStar Group from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. The Goldman Sachs Group cut their price objective on CoStar Group from $108.00 to $93.00 and set a "buy" rating for the company in a report on Wednesday, July 24th. Keefe, Bruyette & Woods dropped their price target on shares of CoStar Group from $109.00 to $100.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. reduced their price objective 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.

CoStar Group Stock Performance

CSGP traded up $0.22 during trading on Wednesday, reaching $73.46. 2,447,891 shares of the company were exchanged, compared to its average volume of 2,371,485. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a market cap of $30.12 billion, a P/E ratio of 168.34 and a beta of 0.81. CoStar Group has a 52 week low of $68.26 and a 52 week high of $100.38. The firm has a 50 day moving average of $76.41 and a 200 day moving average of $78.57.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating the consensus estimate 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 last year, the firm posted $0.25 EPS. CoStar Group's quarterly revenue was up 10.9% compared to the same quarter last year. On average, sell-side analysts forecast that CoStar Group will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Andrew C. Florance bought 14,731 shares of the company's stock in a transaction on Friday, October 25th. The shares were bought at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the transaction, the chief executive officer now directly owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other CoStar Group news, CEO Andrew C. Florance purchased 14,731 shares of the business's stock in a transaction dated Friday, October 25th. The shares were acquired at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the acquisition, the chief executive officer now owns 1,263,098 shares of the company's stock, valued at $94,315,527.66. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the company's stock in a transaction 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CoStar Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC lifted its position in CoStar Group by 4.7% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company's stock worth $242,000 after buying an additional 112 shares in the last quarter. Picton Mahoney Asset Management boosted its position in CoStar Group by 2.9% in the 2nd quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company's stock valued at $352,000 after buying an additional 135 shares during the last quarter. Bleakley Financial Group LLC raised its position 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 acquiring an additional 138 shares during the last quarter. Redmond Asset Management LLC lifted its stake in shares of CoStar Group by 0.9% during the first quarter. Redmond Asset Management LLC now owns 18,670 shares of the technology company's stock valued at $1,804,000 after acquiring an additional 169 shares during the period. Finally, S.E.E.D. Planning Group LLC boosted its holdings in CoStar Group by 0.5% in the second quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company's stock valued at $2,688,000 after acquiring an additional 172 shares during 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.