Insider Selling: CoStar Group, Inc. (NASDAQ:CSGP) CAO Sells $100,673.50 in Stock

CoStar Group, Inc. (NASDAQ:CSGP) CAO Cynthia Cammett Cann sold 1,310 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $76.85, for a total value of $100,673.50. Following the transaction, the chief accounting officer now owns 26,485 shares of the company’s stock, valued at approximately $2,035,372.25. The trade was a 4.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing 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 Stock Performance

NASDAQ:CSGP opened at $78.73 on Monday. The stock has a market cap of $32.29 billion, a P/E ratio of 224.94 and a beta of 0.93. The stock has a 50 day simple moving average of $75.32 and a 200 day simple moving average of $75.66. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The business had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. Research analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its Board of Directors has authorized a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

CSGP has been the subject of a number of analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a research note on Wednesday, February 19th. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Craig Hallum initiated coverage on CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating for the company. Needham & Company LLC decreased their price target on CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. decreased their price target on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.07.

Hedge Funds Weigh In On CoStar Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CSGP. Polen Capital Management LLC acquired a new position in CoStar Group in the 4th quarter valued at $465,134,000. Norges Bank acquired a new position in CoStar Group in the 4th quarter valued at $390,755,000. Capital International Investors raised its holdings in CoStar Group by 44.9% in the 4th quarter. Capital International Investors now owns 14,032,363 shares of the technology company’s stock valued at $1,004,578,000 after acquiring an additional 4,345,267 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in CoStar Group by 24.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,415,895 shares of the technology company’s stock valued at $459,314,000 after acquiring an additional 1,267,263 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in CoStar Group by 2,181.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,129,307 shares of the technology company’s stock valued at $80,847,000 after acquiring an additional 1,079,815 shares in the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

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.