CoStar Group, Inc. (NASDAQ:CSGP) CAO Sells $93,840.00 in Stock

CoStar Group, Inc. (NASDAQ:CSGP) CAO Cynthia Cammett Cann sold 1,200 shares of the company’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 transaction of $93,840.00. Following the transaction, the chief accounting officer now owns 27,795 shares in the company, valued at $2,173,569. The trade was a 4.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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 stock was sold at an average price of $79.90, for a total value of $139,745.10.

CoStar Group Price Performance

Shares of CoStar Group stock opened at $78.73 on Friday. The stock has a market capitalization of $32.29 billion, a P/E ratio of 224.94 and a beta of 0.93. The business has a 50 day simple moving average of $75.32 and a two-hundred day simple moving average of $75.68. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63.

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

CoStar Group announced that its board has initiated a share repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On CoStar Group

Several hedge funds and other institutional investors have recently made changes to their positions in CSGP. Bamco Inc. NY increased its position in CoStar Group by 2.2% during the fourth quarter. Bamco Inc. NY now owns 19,203,564 shares of the technology company’s stock worth $1,374,783,000 after purchasing an additional 418,128 shares during the last quarter. State Street Corp raised its position in shares of 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 buying an additional 722,153 shares during the period. Capital International Investors lifted its holdings in CoStar Group by 44.9% in the fourth 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 during the last quarter. Geode Capital Management LLC grew its position in CoStar Group by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 11,475,755 shares of the technology company’s stock worth $819,678,000 after acquiring an additional 166,769 shares during the period. Finally, Akre Capital Management LLC raised its position in CoStar Group by 4.3% in the fourth quarter. Akre Capital Management LLC now owns 9,313,880 shares of the technology company’s stock valued at $666,781,000 after purchasing an additional 379,787 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. William Blair started coverage on CoStar Group in a research note on Friday, February 28th. They issued a “market perform” rating for the company. Needham & Company LLC cut their price objective on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods lowered their price target on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft began coverage on CoStar Group in a research note on Friday, February 28th. They set a “buy” rating and a $89.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their target price on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 19th. Two investment 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 data from MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and a consensus price target of $88.07.

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.