Short Interest in CoStar Group, Inc. (NASDAQ:CSGP) Increases By 8.1%

CoStar Group, Inc. (NASDAQ:CSGP) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 12,700,000 shares, a growth of 8.1% from the December 31st total of 11,750,000 shares. Based on an average daily trading volume, of 2,840,000 shares, the short-interest ratio is presently 4.5 days.

Wall Street Analysts Forecast Growth

CSGP has been the topic of several research reports. Stephens restated an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a research note on Wednesday, January 29th. Citigroup lowered their price target on CoStar Group from $90.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods lowered their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. JMP Securities reiterated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of CoStar Group in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $92.33.

CoStar Group Trading Up 0.3 %

NASDAQ:CSGP opened at $76.80 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The business’s 50-day simple moving average is $74.67 and its 200-day simple moving average is $75.41. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The stock has a market capitalization of $31.48 billion, a PE ratio of 174.55 and a beta of 0.87.

Insiders Place Their Bets

In related news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the transaction, the insider now owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. The trade was a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.57% of the company’s stock.

Institutional Investors Weigh In On CoStar Group

Institutional investors have recently bought and sold shares of the company. ORG Partners LLC lifted its stake in CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after acquiring an additional 353 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in CoStar Group in the 4th quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in CoStar Group by 17,100.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock valued at $37,000 after acquiring an additional 513 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in CoStar Group in the 3rd quarter valued at approximately $40,000. Finally, Centricity Wealth Management LLC bought a new position in shares of CoStar Group in the fourth quarter valued at $40,000. Institutional investors 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.