Insider Selling: CoStar Group, Inc. (NASDAQ:CSGP) CAO Sells 1,749 Shares of Stock

CoStar Group, Inc. (NASDAQ:CSGP) CAO Cynthia Cammett Cann sold 1,749 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $79.90, for a total value of $139,745.10. Following the transaction, the chief accounting officer now owns 29,456 shares in the company, valued at approximately $2,353,534.40. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

CoStar Group Stock Up 4.4 %

Shares of CoStar Group stock opened at $78.73 on Monday. The business’s 50 day simple moving average is $75.32 and its 200 day simple moving average is $75.66. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The firm has a market cap of $32.29 billion, a PE ratio of 224.94 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The business had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. On average, analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its board has authorized a stock buyback program 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 programs are generally a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CSGP shares. Craig Hallum started coverage on CoStar Group in a report on Friday, February 28th. They set a “buy” rating on the stock. Needham & Company LLC reduced their target price on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft started coverage on CoStar Group in a report on Friday, February 28th. They set a “buy” rating and a $89.00 target price on the stock. 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. Finally, StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and a consensus price target of $88.07.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CSGP. Ashton Thomas Securities LLC acquired a new position in shares of CoStar Group during the 3rd quarter worth approximately $40,000. Apollon Wealth Management LLC acquired a new position in shares of CoStar Group during the 3rd quarter worth approximately $278,000. GSA Capital Partners LLP acquired a new position in shares of CoStar Group during the 3rd quarter worth approximately $230,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of CoStar Group by 2.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 974,084 shares of the technology company’s stock worth $73,485,000 after acquiring an additional 23,825 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of CoStar Group by 3.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 34,912 shares of the technology company’s stock worth $2,634,000 after acquiring an additional 1,150 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

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.