StockNews.com Downgrades CoStar Group (NASDAQ:CSGP) to Sell

CoStar Group (NASDAQ:CSGP - Get Free Report) was downgraded by research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued on Monday.

A number of other research analysts also recently weighed in on the stock. Needham & Company LLC cut their price target on shares of CoStar Group from $107.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, October 23rd. JMP Securities reiterated a "market outperform" rating and set a $90.00 price target on shares of CoStar Group in a research note on Friday, September 6th. JPMorgan Chase & Co. lowered their price objective on CoStar Group from $108.00 to $99.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Robert W. Baird reduced their target price on CoStar Group from $105.00 to $100.00 and set an "outperform" rating for the company in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group lowered their price target on CoStar Group from $108.00 to $93.00 and set a "buy" rating on the stock in a report on Wednesday, July 24th. One 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.com, CoStar Group presently has an average rating of "Moderate Buy" and a consensus price target of $93.25.

CoStar Group Stock Down 0.2 %

CSGP stock traded down $0.17 during mid-day trading on Monday, hitting $74.31. The stock had a trading volume of 5,791,258 shares, compared to its average volume of 2,368,163. CoStar Group has a 1-year low of $68.26 and a 1-year high of $100.38. The company has a fifty day moving average of $76.44 and a 200 day moving average of $78.69. 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 capitalization of $30.46 billion, a price-to-earnings ratio of 168.89 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate 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 firm's quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 EPS. On average, equities analysts expect that CoStar Group will post 0.52 EPS for the current fiscal year.

Insider Activity at CoStar Group

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

Institutional Investors Weigh In On CoStar Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Crewe Advisors LLC acquired a new position in CoStar Group during the first quarter worth $31,000. RiverPark Advisors LLC acquired a new stake in shares of CoStar Group during the 1st quarter worth about $37,000. Industrial Alliance Investment Management Inc. acquired a new position in CoStar Group in the second quarter valued at about $49,000. Covestor Ltd boosted its position in CoStar Group by 43.0% in the first quarter. Covestor Ltd now owns 702 shares of the technology company's stock valued at $68,000 after buying an additional 211 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of CoStar Group during the second quarter worth approximately $54,000. 96.60% of the stock is owned by institutional investors and hedge funds.

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.

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