Michael J. Desmarais Sells 3,800 Shares of CoStar Group, Inc. (NASDAQ:CSGP) Stock

CoStar Group, Inc. (NASDAQ:CSGP) insider Michael J. Desmarais sold 3,800 shares of CoStar Group stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.67, for a total transaction of $352,146.00. Following the completion of the sale, the insider now owns 64,087 shares of the company’s stock, valued at $5,938,942.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

CoStar Group Stock Down 1.3 %

Shares of NASDAQ:CSGP opened at $90.36 on Thursday. The company has a fifty day moving average of $90.33 and a 200-day moving average of $85.00. The company has a market capitalization of $36.90 billion, a PE ratio of 123.78, a price-to-earnings-growth ratio of 10.35 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.09 and a current ratio of 9.09. CoStar Group, Inc. has a 52-week low of $67.35 and a 52-week high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. The company had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.27 million. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 earnings per share. On average, equities analysts predict that CoStar Group, Inc. will post 0.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of CoStar Group in the fourth quarter worth $406,934,000. Capital International Investors grew its stake in shares of CoStar Group by 32.2% in the fourth quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock worth $352,759,000 after purchasing an additional 982,837 shares during the last quarter. Capital Research Global Investors grew its stake in shares of CoStar Group by 49.2% in the fourth quarter. Capital Research Global Investors now owns 2,414,313 shares of the technology company’s stock worth $210,987,000 after purchasing an additional 796,386 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of CoStar Group by 4.0% in the third quarter. Principal Financial Group Inc. now owns 19,808,306 shares of the technology company’s stock worth $1,523,061,000 after purchasing an additional 761,383 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in shares of CoStar Group by 109.6% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,398,896 shares of the technology company’s stock worth $122,249,000 after purchasing an additional 731,375 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CSGP shares. Robert W. Baird lifted their price target on shares of CoStar Group from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. Keefe, Bruyette & Woods lifted their price target on shares of CoStar Group from $96.00 to $109.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Jefferies Financial Group boosted their price objective on shares of CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, April 12th. BMO Capital Markets boosted their price objective on shares of CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research report on Thursday, April 25th. Finally, Stephens restated an “overweight” rating and set a $105.00 price objective on shares of CoStar Group in a research report on Wednesday, April 24th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and an average target price of $102.46.

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.