CoStar Group, Inc. (NASDAQ:CSGP) Insider Michael J. Desmarais Sells 3,800 Shares

CoStar Group, Inc. (NASDAQ:CSGP) insider Michael J. Desmarais sold 3,800 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.67, for a total transaction of $352,146.00. Following the completion of the transaction, the insider now directly owns 64,087 shares of the company’s stock, valued at approximately $5,938,942.29. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

CoStar Group Stock Performance

Shares of CSGP stock traded down $0.97 during mid-day trading on Tuesday, reaching $91.53. The stock had a trading volume of 2,190,510 shares, compared to its average volume of 2,182,164. The firm has a market cap of $37.38 billion, a PE ratio of 126.71, a P/E/G ratio of 10.37 and a beta of 0.84. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a one year low of $67.35 and a one year high of $100.38. The firm’s 50 day simple moving average is $89.99 and its 200 day simple moving average is $84.88.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $640.00 million for the quarter, compared to the consensus estimate of $634.27 million. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.35 earnings per share. On average, analysts forecast that CoStar Group, Inc. will post 0.45 EPS for the current year.

Institutional Investors Weigh In On CoStar Group

Several large investors have recently modified their holdings of CSGP. Blue Trust Inc. boosted its stake in CoStar Group by 125.4% in the 4th quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock valued at $27,000 after buying an additional 173 shares in the last quarter. Riverview Trust Co bought a new position in shares of CoStar Group during the first quarter valued at $35,000. Pinnacle Bancorp Inc. acquired a new stake in shares of CoStar Group in the 4th quarter valued at $37,000. Connectus Wealth LLC increased its position in shares of CoStar Group by 915.0% during the 4th quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock worth $45,000 after purchasing an additional 467,534 shares in the last quarter. Finally, CVA Family Office LLC bought a new position in CoStar Group during the 4th quarter valued at about $60,000. 96.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CSGP. Stephens reiterated an “overweight” rating and set a $105.00 price target on shares of CoStar Group in a report on Wednesday, April 24th. JMP Securities restated a “market outperform” rating and set a $110.00 price target on shares of CoStar Group in a report on Friday, April 12th. Citigroup raised their price objective on shares of CoStar Group from $90.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods increased their price target on shares of CoStar Group from $96.00 to $109.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a research note on Wednesday, April 24th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, CoStar Group currently has an average rating of “Moderate Buy” and an average price target of $102.46.

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.