CoStar Group (NASDAQ:CSGP) Given “Overweight” Rating at Stephens

Stephens reissued their overweight rating on shares of CoStar Group (NASDAQ:CSGP) in a research note published on Thursday,Benzinga reports. The brokerage currently has a $103.00 price target on the technology company’s stock.

CSGP has been the subject of several other research reports. Citigroup decreased their target price on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. decreased their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. JMP Securities restated a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a report on Monday, December 16th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a research note on Monday, December 9th. Finally, StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, CoStar Group has an average rating of “Moderate Buy” and a consensus target price of $93.08.

CoStar Group Stock Performance

Shares of CSGP stock opened at $72.25 on Thursday. The stock has a 50 day moving average price of $75.28 and a two-hundred day moving average price of $75.48. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The company has a market capitalization of $29.62 billion, a P/E ratio of 164.21 and a beta of 0.85.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The business’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. Analysts expect that CoStar Group will post 0.52 earnings per share for the current year.

Insider Activity at CoStar Group

In other news, CEO Andrew C. Florance purchased 14,731 shares of the company’s stock in a transaction on Friday, October 25th. The stock was acquired at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the transaction, the chief executive officer now directly owns 1,263,098 shares in the company, valued at $94,315,527.66. This trade represents a 1.18 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 completion of the transaction, the insider now directly owns 58,798 shares of the company’s stock, valued at $4,696,784.24. This represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is owned by insiders.

Institutional Trading of CoStar Group

A number of large investors have recently added to or reduced their stakes in CSGP. State Street Corp raised 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 valued at $1,286,987,000 after purchasing an additional 722,153 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of CoStar Group by 2.1% in the third quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock worth $850,656,000 after buying an additional 236,407 shares during the last quarter. Vulcan Value Partners LLC lifted its position in 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 acquiring an additional 1,961,917 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in CoStar Group by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock worth $202,509,000 after buying an additional 76,916 shares during the period. Finally, Mackenzie Financial Corp lifted its position in CoStar Group by 16.9% during the second quarter. Mackenzie Financial Corp now owns 2,358,526 shares of the technology company’s stock valued at $174,861,000 after purchasing an additional 341,046 shares during the period. Institutional investors 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.