CoStar Group (NASDAQ:CSGP) Earns Overweight Rating from Stephens

CoStar Group (NASDAQ:CSGP)‘s stock had its “overweight” rating reaffirmed by research analysts at Stephens in a research report issued on Tuesday,Benzinga reports. They presently have a $103.00 price objective on the technology company’s stock. Stephens’ price target points to a potential upside of 38.91% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. 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 note on Wednesday, October 23rd. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Keefe, Bruyette & Woods decreased their target price on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. BMO Capital Markets decreased their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of CoStar Group in a research report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, CoStar Group currently has a consensus rating of “Moderate Buy” and an average price target of $90.23.

CoStar Group Price Performance

NASDAQ CSGP opened at $74.15 on Tuesday. The firm’s fifty day simple moving average is $73.81 and its two-hundred day simple moving average is $75.34. 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 has a 12-month low of $68.26 and a 12-month high of $100.38. The firm has a market capitalization of $30.40 billion, a P/E ratio of 168.33 and a beta of 0.87.

Insider Transactions at CoStar Group

In related news, insider Michael J. Desmarais sold 5,500 shares of the firm’s 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 sale, the insider now owns 58,798 shares in the company, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in CoStar Group by 26.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,647,849 shares of the technology company’s stock worth $189,560,000 after acquiring an additional 551,594 shares during the period. Voloridge Investment Management LLC acquired a new position in shares of CoStar Group in the 4th quarter valued at $2,402,000. Woodline Partners LP acquired a new position in shares of CoStar Group in the 4th quarter valued at $1,763,000. Vident Advisory LLC boosted its holdings in shares of CoStar Group by 6.0% in the 4th quarter. Vident Advisory LLC now owns 16,167 shares of the technology company’s stock valued at $1,157,000 after purchasing an additional 917 shares during the last quarter. Finally, Sone Capital Management LLC acquired a new position in shares of CoStar Group in the 4th quarter valued at $789,000. 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.