CoStar Group’s (CSGP) Outperform Rating Reiterated at William Blair

William Blair reiterated their outperform rating on shares of CoStar Group (NASDAQ:CSGP) in a report released on Monday,RTT News reports.

CSGP has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. BMO Capital Markets decreased their target price on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. JMP Securities reiterated a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research report on Monday, December 16th. Finally, Citigroup lowered their target price on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.08.

CoStar Group Trading Up 1.4 %

Shares of CSGP stock opened at $71.34 on Monday. The stock has a market cap of $29.25 billion, a price-to-earnings ratio of 162.14 and a beta of 0.85. 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 company’s 50-day moving average price is $75.12 and its 200-day moving average price is $75.45. CoStar Group has a twelve month low of $68.26 and a twelve month high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. CoStar Group’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. As a group, equities analysts predict that CoStar Group will post 0.52 earnings per share for the current year.

Insider Buying and Selling at CoStar Group

In other news, CEO Andrew C. Florance purchased 14,731 shares of the stock in a transaction dated 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 completion of the acquisition, the chief executive officer now directly owns 1,263,098 shares in the company, valued at $94,315,527.66. This represents a 1.18 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares in the company, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Douglas Lane & Associates LLC purchased a new position in CoStar Group in the fourth quarter valued at approximately $27,446,000. One Wealth Capital Management LLC purchased a new stake in shares of CoStar Group during the fourth quarter worth about $324,000. Westwind Capital raised its position in shares of CoStar Group by 1.9% in the 4th quarter. Westwind Capital now owns 170,564 shares of the technology company’s stock valued at $12,211,000 after purchasing an additional 3,110 shares in the last quarter. Diversified Trust Co boosted its stake in CoStar Group by 8.6% during the 4th quarter. Diversified Trust Co now owns 3,789 shares of the technology company’s stock valued at $271,000 after acquiring an additional 301 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. bought a new position in shares of CoStar Group during the fourth quarter worth about $448,000. 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.