CoStar Group, Inc. (NASDAQ:CSGP) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of CoStar Group, Inc. (NASDAQ:CSGP) have been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $93.25.

A number of research firms have recently commented on CSGP. JMP Securities reissued a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a report on Monday, December 9th. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Citigroup dropped their target price on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Finally, Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd.

CoStar Group Stock Up 0.3 %

CoStar Group stock opened at $72.95 on Thursday. CoStar Group has a 52 week low of $68.26 and a 52 week high of $100.38. The stock has a market cap of $29.91 billion, a price-to-earnings ratio of 165.80 and a beta of 0.83. The company’s 50-day moving average price is $75.87 and its two-hundred day moving average price is $75.66. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The business 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%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the business earned $0.25 earnings per share. On average, analysts expect that CoStar Group will post 0.52 EPS for the current fiscal year.

Insider Transactions at CoStar Group

In related news, Director Michael R. Klein sold 71,633 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the transaction, the director now directly owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew C. Florance acquired 14,731 shares of the company’s stock in a transaction on Friday, October 25th. The stock was bought at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the purchase, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This trade represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by insiders.

Institutional Trading of CoStar Group

A number of institutional investors have recently bought and sold shares of CSGP. Tidal Investments LLC raised its stake in shares of CoStar Group by 292.0% during the 3rd quarter. Tidal Investments LLC now owns 73,184 shares of the technology company’s stock worth $5,521,000 after purchasing an additional 54,515 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in CoStar Group in the third quarter worth approximately $256,000. Coldstream Capital Management Inc. raised its position in CoStar Group by 6.5% during the third quarter. Coldstream Capital Management Inc. now owns 6,370 shares of the technology company’s stock valued at $481,000 after acquiring an additional 391 shares in the last quarter. Geode Capital Management LLC lifted its stake in CoStar Group by 2.1% in the third quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock valued at $850,656,000 after acquiring an additional 236,407 shares during the last quarter. Finally, Prestige Wealth Management Group LLC grew its position in CoStar Group by 7,715.2% in the third quarter. Prestige Wealth Management Group LLC now owns 5,158 shares of the technology company’s stock worth $389,000 after acquiring an additional 5,092 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

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.