Insider Selling: CoStar Group, Inc. (NASDAQ:CSGP) CAO Sells 1,200 Shares of Stock

CoStar Group, Inc. (NASDAQ:CSGP) CAO Cynthia Cammett Cann sold 1,200 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 27,795 shares of the company’s stock, valued at $2,173,569. The trade was a 4.14 % decrease in their position. The sale was disclosed in a document filed 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 Price Performance

NASDAQ CSGP opened at $78.73 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The stock’s fifty day moving average price is $75.32 and its 200 day moving average price is $75.66. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. 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 released its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The firm had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. As a group, equities research analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its board has initiated a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On CoStar Group

Several hedge funds have recently made changes to their positions in CSGP. Lansforsakringar Fondforvaltning AB publ purchased a new stake in CoStar Group in the fourth quarter valued at $9,768,000. Centaurus Financial Inc. boosted its holdings in CoStar Group by 3.6% in the fourth quarter. Centaurus Financial Inc. now owns 21,598 shares of the technology company’s stock valued at $1,546,000 after purchasing an additional 756 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in CoStar Group in the fourth quarter valued at $19,048,000. Azzad Asset Management Inc. ADV boosted its holdings in CoStar Group by 4.9% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 106,764 shares of the technology company’s stock valued at $7,643,000 after purchasing an additional 4,949 shares during the last quarter. Finally, Jefferies Financial Group Inc. boosted its holdings in CoStar Group by 187.2% in the fourth quarter. Jefferies Financial Group Inc. now owns 98,108 shares of the technology company’s stock valued at $7,024,000 after purchasing an additional 63,948 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on CSGP. Keefe, Bruyette & Woods lowered their target price on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a report on Tuesday, January 28th. Citigroup lowered their target price on CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Needham & Company LLC lowered their target price on CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Stephens restated an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a report on Tuesday, February 18th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $83.00 target price on shares of CoStar Group in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

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.