Insider Selling: CoStar Group, Inc. (NASDAQ:CSGP) Insider Sells 5,500 Shares of Stock

CoStar Group, Inc. (NASDAQ:CSGP) insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the sale, the insider now owns 58,798 shares in the company, valued at $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

CoStar Group Trading Up 2.6 %

Shares of CSGP stock traded up $2.05 on Wednesday, hitting $81.97. 1,754,032 shares of the company’s stock traded hands, compared to its average volume of 2,399,324. The stock has a market capitalization of $33.60 billion, a price-to-earnings ratio of 181.64 and a beta of 0.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The company’s fifty day simple moving average is $75.62 and its 200 day simple moving average is $76.64. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results 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. The business had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 EPS. Equities analysts forecast that CoStar Group, Inc. will post 0.52 EPS for the current year.

Institutional Investors Weigh In On CoStar Group

A number of large investors have recently modified their holdings of CSGP. Ashton Thomas Securities LLC bought a new stake in shares of CoStar Group during the 3rd quarter valued at about $40,000. Industrial Alliance Investment Management Inc. bought a new stake in CoStar Group during the second quarter worth about $49,000. Quarry LP bought a new stake in CoStar Group during the second quarter worth about $54,000. Rothschild Investment LLC bought a new stake in CoStar Group during the second quarter worth about $73,000. Finally, Blue Trust Inc. lifted its stake in shares of CoStar Group by 493.4% in the second quarter. Blue Trust Inc. now owns 1,080 shares of the technology company’s stock worth $80,000 after buying an additional 898 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CSGP has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a research note on Tuesday, November 19th. Citigroup lowered 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. BMO Capital Markets lowered their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Finally, Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $96.00 to $83.00 in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.25.

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.