CoStar Group (NASDAQ:CSGP) Price Target Cut to $93.00 by Analysts at Keefe, Bruyette & Woods

CoStar Group (NASDAQ:CSGP) had its price target cut by equities researchers at Keefe, Bruyette & Woods from $96.00 to $93.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 21.64% from the company’s current price.

Other analysts have also recently issued reports about the stock. BMO Capital Markets decreased 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 report on Thursday, October 24th. Royal Bank of Canada restated a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a research report on Friday, January 10th. William Blair reissued an “outperform” rating on shares of CoStar Group in a research report on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of CoStar Group in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. reduced their target price 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.33.

CoStar Group Trading Up 3.1 %

Shares of CSGP opened at $76.46 on Tuesday. The stock has a market capitalization of $31.34 billion, a PE ratio of 173.77 and a beta of 0.85. The company’s fifty day moving average is $74.62 and its 200 day moving average is $75.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $100.38.

Insider Activity

In other news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group 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 trade represents a 8.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.57% of the company’s stock.

Institutional Trading of CoStar Group

Several hedge funds have recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of CoStar Group by 5.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 98,252 shares of the technology company’s stock worth $7,034,000 after acquiring an additional 4,754 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of CoStar Group by 6.8% during the 4th quarter. Bleakley Financial Group LLC now owns 9,222 shares of the technology company’s stock valued at $660,000 after purchasing an additional 584 shares during the last quarter. Vanderbilt University purchased a new stake in shares of CoStar Group during the 4th quarter valued at $2,703,000. Tectonic Advisors LLC purchased a new position in CoStar Group during the 4th quarter worth $290,000. Finally, Guidance Capital Inc. acquired a new position in CoStar Group during the 4th quarter valued at about $889,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

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.