CoStar Group, Inc. (NASDAQ:CSGP) CAO Cynthia Cammett Cann Sells 1,749 Shares

CoStar Group, Inc. (NASDAQ:CSGP) CAO Cynthia Cammett Cann sold 1,749 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at $2,353,534.40. This trade represents a 5.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

CoStar Group Stock Performance

CSGP stock opened at $78.73 on Friday. The firm has a market cap of $32.29 billion, a price-to-earnings ratio of 224.94 and a beta of 0.93. The firm has a 50-day simple moving average of $75.32 and a two-hundred day simple moving average of $75.68. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96.

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

CoStar Group declared that its board has initiated a stock buyback plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

CSGP has been the topic of several research reports. Royal Bank of Canada restated a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a research report on Wednesday, February 19th. William Blair initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a “market perform” rating on the stock. Wells Fargo & Company reduced their price target on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 19th. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “buy” rating and a $89.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and an average price target of $88.07.

Hedge Funds Weigh In On CoStar Group

Hedge funds have recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in shares of CoStar Group during the third quarter valued at about $40,000. JPMorgan Chase & Co. increased its holdings in CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after buying an additional 1,001,177 shares during the period. Telemark Asset Management LLC increased its holdings in CoStar Group by 42.9% in the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock worth $37,720,000 after buying an additional 150,000 shares during the period. PNC Financial Services Group Inc. increased its holdings in CoStar Group by 16.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock worth $7,812,000 after buying an additional 14,468 shares during the period. Finally, Kovitz Investment Group Partners LLC acquired a new position in CoStar Group in the 3rd quarter worth approximately $621,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

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.