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 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 sale, the insider now owns 58,798 shares of the company’s stock, 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 is available at the SEC website.

CoStar Group Price Performance

Shares of CoStar Group stock opened at $81.97 on Thursday. The company’s fifty day simple moving average is $75.72 and its two-hundred day simple moving average is $76.68. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The firm has a market cap of $33.60 billion, a PE ratio of 186.30 and a beta of 0.82. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13.

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

Institutional Trading of CoStar Group

Several large investors have recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management lifted its position in shares of CoStar Group by 2.9% in the 2nd quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock worth $352,000 after purchasing an additional 135 shares during the period. Bleakley Financial Group LLC lifted its holdings in CoStar Group by 1.6% in the third 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 period. Moran Wealth Management LLC lifted its holdings in CoStar Group by 2.0% in the third 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 period. S.E.E.D. Planning Group LLC boosted 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 valued at $2,688,000 after acquiring an additional 172 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co grew its holdings in shares of 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 acquiring an additional 188 shares during the period. Institutional investors own 96.60% of the company’s stock.

Analysts Set New Price Targets

CSGP has been the topic of a number of recent analyst reports. Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. BMO Capital Markets lowered their price objective 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. Citigroup cut their target price on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of CoStar Group in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and a consensus target price of $93.25.

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.