William Blair Reiterates “Outperform” Rating for CoStar Group (NASDAQ:CSGP)

William Blair reissued their outperform rating on shares of CoStar Group (NASDAQ:CSGP) in a report released on Monday,RTT News reports.

Other research analysts have also recently issued reports about the stock. BMO Capital Markets dropped 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 cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of CoStar Group in a research note on Monday, December 9th. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. cut their price target on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, CoStar Group presently has an average rating of “Moderate Buy” and a consensus price target of $93.08.

CoStar Group Trading Up 1.4 %

Shares of CSGP stock opened at $71.34 on Monday. The firm has a market capitalization of $29.25 billion, a PE ratio of 162.14 and a beta of 0.85. The stock has a fifty day moving average of $75.12 and a two-hundred day moving average of $75.45. CoStar Group has a 1 year low of $68.26 and a 1 year high of $100.38. 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 (NASDAQ:CSGP) last released its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 earnings per share. As a group, research analysts expect that CoStar Group will post 0.52 EPS for the current year.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CEO Andrew C. Florance purchased 14,731 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were acquired at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the transaction, the chief executive officer now directly owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. The trade was a 1.18 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares of the company’s stock, valued at $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

Institutional Trading of CoStar Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSGP. Douglas Lane & Associates LLC bought a new position in CoStar Group in the fourth quarter valued at approximately $27,446,000. One Wealth Capital Management LLC bought a new stake in shares of CoStar Group in the fourth quarter worth about $324,000. Westwind Capital increased its stake in CoStar Group by 1.9% during the 4th quarter. Westwind Capital now owns 170,564 shares of the technology company’s stock worth $12,211,000 after purchasing an additional 3,110 shares in the last quarter. Diversified Trust Co raised its holdings in shares of CoStar Group by 8.6% during the fourth quarter. Diversified Trust Co now owns 3,789 shares of the technology company’s stock worth $271,000 after acquiring an additional 301 shares during the period. Finally, Canandaigua National Bank & Trust Co. acquired a new stake in shares of CoStar Group in the 4th quarter valued at about $448,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

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.