CoStar Group, Inc. (NASDAQ:CSGP) CEO Andrew C. Florance Acquires 14,731 Shares

CoStar Group, Inc. (NASDAQ:CSGP) CEO Andrew C. Florance bought 14,731 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were acquired at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the purchase, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

CoStar Group Trading Down 0.2 %

Shares of CoStar Group stock opened at $74.31 on Tuesday. The company’s fifty day simple moving average is $76.44 and its 200-day simple moving average is $78.69. The stock has a market capitalization of $30.46 billion, a PE ratio of 168.89 and a beta of 0.81. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 EPS. As a group, equities analysts anticipate that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CSGP. Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. The Goldman Sachs Group reduced their price target on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. reduced their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. BMO Capital Markets reduced their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Finally, Robert W. Baird reduced their price target on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.25.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of CoStar Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock valued at $6,322,615,000 after buying an additional 541,700 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of CoStar Group by 17.7% during the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after buying an additional 1,773,564 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of CoStar Group by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock valued at $453,534,000 after buying an additional 124,761 shares in the last quarter. Blair William & Co. IL lifted its stake in shares of CoStar Group by 0.6% during the 1st quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company’s stock valued at $426,951,000 after buying an additional 26,800 shares in the last quarter. Finally, Vulcan Value Partners LLC lifted its stake in shares of 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 valued at $306,831,000 after buying an additional 1,961,917 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

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.