CoStar Group, Inc. (NASDAQ:CSGP) Insider Michael J. Desmarais Sells 5,500 Shares

CoStar Group, Inc. (NASDAQ:CSGP) insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the sale, the insider now directly owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

CoStar Group Stock Up 2.6 %

NASDAQ CSGP traded up $2.05 during trading on Wednesday, reaching $81.97. 1,754,032 shares of the company’s stock traded hands, compared to its average volume of 2,399,324. 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 firm has a market cap of $33.60 billion, a price-to-earnings ratio of 181.64 and a beta of 0.82. The company’s 50 day simple moving average is $75.62 and its two-hundred day simple moving average is $76.64. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The business had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. During the same quarter last year, the firm posted $0.25 EPS. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, sell-side analysts forecast that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. JMP Securities reiterated a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. lowered their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Finally, Citigroup reduced their target price on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $93.25.

Institutional Trading of CoStar Group

Institutional investors have recently bought and sold shares of the stock. Picton Mahoney Asset Management raised its position in CoStar Group by 2.9% during the 2nd quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock worth $352,000 after buying an additional 135 shares during the last quarter. Bleakley Financial Group LLC raised its position in CoStar Group by 1.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock worth $652,000 after buying an additional 138 shares during the last quarter. Moran Wealth Management LLC raised its position in CoStar Group by 2.0% during the 3rd quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock worth $606,000 after buying an additional 161 shares during the last quarter. S.E.E.D. Planning Group LLC raised its position in CoStar Group by 0.5% during the 2nd quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock worth $2,688,000 after buying an additional 172 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co raised its position in CoStar Group by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock worth $2,780,000 after buying an additional 188 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

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.