CoStar Group, Inc. (NASDAQ:CSGP) CAO Cynthia Cammett Cann Sells 1,200 Shares of Stock

CoStar Group, Inc. (NASDAQ:CSGP) CAO Cynthia Cammett Cann sold 1,200 shares of CoStar Group stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $78.20, for a total value of $93,840.00. Following the transaction, the chief accounting officer now owns 27,795 shares in the company, valued at $2,173,569. This trade represents a 4.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Cynthia Cammett Cann also recently made the following trade(s):

• On Monday, March 10th, Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock. The shares were sold at an average price of $79.90, for a total value of $139,745.10.

CoStar Group Trading Up 4.4 %

Shares of NASDAQ CSGP opened at $78.73 on Friday. The business’s 50 day moving average price is $75.32 and its 200-day moving average price is $75.68. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week 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 8.96. The company has a market cap of $32.29 billion, a price-to-earnings ratio of 224.94 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The company had revenue of $709.40 million for the quarter, compared to analysts’ expectations of $703.00 million. On average, sell-side analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CSGP. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Needham & Company LLC lowered their target price on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft initiated coverage on CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating and a $89.00 price target for the company. Citigroup lowered their price objective on CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group started coverage on CoStar Group in a research report on Friday, February 28th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $88.07.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Colonial Trust Co SC grew its stake in CoStar Group by 27.4% in the fourth quarter. Colonial Trust Co SC now owns 674 shares of the technology company’s stock valued at $48,000 after purchasing an additional 145 shares during the last quarter. DoubleLine ETF Adviser LP raised its stake in shares of CoStar Group by 0.5% during the 4th quarter. DoubleLine ETF Adviser LP now owns 29,398 shares of the technology company’s stock worth $2,105,000 after acquiring an additional 146 shares in the last quarter. Moran Wealth Management LLC lifted its position in CoStar Group by 2.0% during the third quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock valued at $606,000 after acquiring an additional 161 shares during the last quarter. Allworth Financial LP boosted its stake in CoStar Group by 9.7% in the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock valued at $144,000 after acquiring an additional 173 shares in the last quarter. Finally, Atria Wealth Solutions Inc. grew its holdings in CoStar Group by 2.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock worth $557,000 after purchasing an additional 176 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

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.