CoStar Group (NASDAQ:CSGP – Get Free Report) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
Several other equities research analysts also recently weighed in on CSGP. BMO Capital Markets cut their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. reduced their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a research report on Friday, January 10th. Stephens reaffirmed an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a report on Thursday, January 2nd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a report on Monday, December 16th. 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 MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.92.
Read Our Latest Stock Analysis on CoStar Group
CoStar Group Price Performance
CoStar Group (NASDAQ:CSGP – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The business had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. During the same quarter last year, the firm posted $0.25 earnings per share. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, sell-side analysts anticipate that CoStar Group will post 0.52 EPS for the current year.
Insider Buying and Selling at CoStar Group
In other CoStar Group news, CEO Andrew C. Florance acquired 14,731 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were purchased at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the acquisition, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. The trade was a 1.18 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares in the company, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Vulcan Value Partners LLC boosted its stake in shares of CoStar Group by 90.1% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock worth $306,831,000 after purchasing an additional 1,961,917 shares during the last quarter. Barclays PLC grew its stake in shares of CoStar Group by 91.4% during the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after buying an additional 1,073,793 shares during the period. JPMorgan Chase & Co. raised its position in shares of CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after buying an additional 1,001,177 shares during the period. Select Equity Group L.P. acquired a new stake in CoStar Group during the second quarter worth about $60,761,000. Finally, State Street Corp increased its position in CoStar Group by 4.4% during the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after purchasing an additional 722,153 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.
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.
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