CoStar Group, Inc. (NASDAQ:CSGP) Insider Michael J. Desmarais Sells 5,500 Shares

CoStar Group, Inc. (NASDAQ:CSGP) 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 completion of the transaction, the insider now owns 58,798 shares of the company’s stock, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

CoStar Group Trading Up 2.6 %

NASDAQ:CSGP opened at $81.97 on Friday. The stock has a market cap of $33.60 billion, a price-to-earnings ratio of 186.30 and a beta of 0.82. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average price is $75.78 and its 200-day moving average price is $76.71. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 EPS. On average, equities research analysts forecast that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CoStar Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new position in shares of CoStar Group during the third quarter valued at approximately $40,000. Industrial Alliance Investment Management Inc. bought a new stake in CoStar Group in the 2nd quarter worth approximately $49,000. Quarry LP purchased a new stake in CoStar Group during the 2nd quarter valued at $54,000. Rothschild Investment LLC bought a new position in shares of CoStar Group during the 2nd quarter valued at $73,000. Finally, Blue Trust Inc. boosted its stake in shares of CoStar Group by 493.4% in the 2nd quarter. Blue Trust Inc. now owns 1,080 shares of the technology company’s stock worth $80,000 after buying an additional 898 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

Analysts Set New Price Targets

CSGP has been the topic of several research analyst reports. Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. JMP Securities restated a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research note on Friday, September 6th. Citigroup reduced their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. lowered their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and an average price target of $93.25.

CoStar Group Company Profile

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.