CoStar Group (NASDAQ:CSGP) Downgraded to “Sell” Rating by StockNews.com

StockNews.com downgraded shares of CoStar Group (NASDAQ:CSGP) from a hold rating to a sell rating in a report issued on Wednesday morning.

A number of other equities analysts have also commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a research report on Monday, December 9th. William Blair reissued an “outperform” rating on shares of CoStar Group in a report on Monday, January 6th. BMO Capital Markets dropped their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. JMP Securities reiterated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Finally, Stephens restated an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, CoStar Group presently has an average rating of “Moderate Buy” and a consensus target price of $92.92.

CoStar Group Stock Up 0.6 %

Shares of CSGP opened at $73.85 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The company has a 50-day simple moving average of $74.74 and a 200-day simple moving average of $75.33. CoStar Group has a 52 week low of $68.26 and a 52 week high of $100.38. The firm has a market capitalization of $30.28 billion, a P/E ratio of 167.84 and a beta of 0.85.

CoStar Group (NASDAQ:CSGP) last posted its quarterly 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 for the quarter, compared to the consensus estimate 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 was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 earnings per share. On average, equities research analysts expect that CoStar Group will post 0.52 earnings per share for the current year.

Insider Transactions at CoStar Group

In other news, CEO Andrew C. Florance bought 14,731 shares of the stock in a transaction on Friday, October 25th. The stock was acquired at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the acquisition, the chief executive officer now directly owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 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. The trade was a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. ORG Partners LLC lifted its position in shares of CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after buying an additional 353 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in CoStar Group in the third quarter worth $40,000. Quarry LP purchased a new stake in shares of CoStar Group during the 2nd quarter valued at $54,000. Brooklyn Investment Group bought a new stake in shares of CoStar Group during the 3rd quarter worth $91,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of CoStar Group in the 2nd quarter worth about $104,000. 96.60% of the stock is 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.