CoStar Group’s (CSGP) “Buy” Rating Reiterated at Bank of America

CoStar Group (NASDAQ:CSGPGet Rating)‘s stock had its “buy” rating reaffirmed by Bank of America in a research note issued to investors on Friday, The Fly reports. They currently have a $100.00 price objective on the technology company’s stock. Bank of America‘s target price points to a potential upside of 23.76% from the company’s previous close.

A number of other brokerages have also recently weighed in on CSGP. Robert W. Baird boosted their price target on CoStar Group to $90.00 in a research report on Thursday, October 27th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $76.00 price target (up previously from $67.00) on shares of CoStar Group in a research report on Tuesday, October 25th. Truist Financial boosted their price target on CoStar Group from $75.00 to $95.00 in a research report on Wednesday, October 26th. Citigroup boosted their price target on CoStar Group from $75.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, September 13th. Finally, Royal Bank of Canada boosted their price objective on CoStar Group from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 5th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.50.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $80.80 on Friday. CoStar Group has a fifty-two week low of $49.00 and a fifty-two week high of $85.37. The business has a 50-day moving average of $75.48 and a two-hundred day moving average of $68.15. The stock has a market capitalization of $32.86 billion, a P/E ratio of 93.95 and a beta of 0.92. The company has a debt-to-equity ratio of 0.15, a current ratio of 15.36 and a quick ratio of 15.36.

Insider Activity at CoStar Group

In related news, insider Michael J. Desmarais sold 1,296 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $82.81, for a total transaction of $107,321.76. Following the transaction, the insider now directly owns 36,900 shares in the company, valued at $3,055,689. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director John W. Hill sold 3,650 shares of the business’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $78.92, for a total transaction of $288,058.00. Following the transaction, the director now directly owns 20,734 shares in the company, valued at $1,636,327.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael J. Desmarais sold 1,296 shares of the business’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $82.81, for a total value of $107,321.76. Following the transaction, the insider now owns 36,900 shares in the company, valued at $3,055,689. The disclosure for this sale can be found here. Corporate insiders own 1.42% of the company’s stock.

Institutional Investors Weigh In On CoStar Group

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of CoStar Group by 22.1% in the 3rd quarter. Vanguard Group Inc. now owns 42,997,622 shares of the technology company’s stock valued at $2,994,784,000 after purchasing an additional 7,780,240 shares during the period. BlackRock Inc. grew its stake in shares of CoStar Group by 42.0% in the 3rd quarter. BlackRock Inc. now owns 28,633,861 shares of the technology company’s stock valued at $1,994,349,000 after purchasing an additional 8,470,338 shares during the period. Principal Financial Group Inc. grew its stake in shares of CoStar Group by 7.6% in the 2nd quarter. Principal Financial Group Inc. now owns 20,166,548 shares of the technology company’s stock valued at $1,218,260,000 after purchasing an additional 1,424,212 shares during the period. State Street Corp grew its stake in shares of CoStar Group by 84.0% in the 3rd quarter. State Street Corp now owns 14,630,966 shares of the technology company’s stock valued at $1,019,047,000 after purchasing an additional 6,681,249 shares during the period. Finally, Sands Capital Management LLC grew its stake in shares of CoStar Group by 3.9% in the 1st quarter. Sands Capital Management LLC now owns 10,683,596 shares of the technology company’s stock valued at $711,634,000 after purchasing an additional 403,931 shares during the period. 95.29% of the stock is currently owned by institutional investors.

CoStar Group Company Profile

(Get Rating)

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. It offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar COMPS, 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.

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