Insider Selling: CoStar Group, Inc. (NASDAQ:CSGP) Director Sells $5,350,268.77 in Stock

CoStar Group, Inc. (NASDAQ:CSGP) Director Michael R. Klein sold 71,633 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.69, for a total value of $5,350,268.77. Following the transaction, the director now directly owns 1,913,501 shares in the company, valued at $142,919,389.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $73.46 on Thursday. 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 firm’s 50 day moving average price is $76.37 and its 200-day moving average price is $78.54. The stock has a market capitalization of $30.12 billion, a PE ratio of 166.96 and a beta of 0.81. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month 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 company had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 earnings per share. Equities research analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. 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. Bank of America lowered their price objective on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 22nd. JMP Securities reiterated a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a report on Friday, September 6th. Finally, BMO Capital Markets lowered their target price on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CSGP. Vulcan Value Partners LLC raised its holdings in shares of CoStar Group by 90.1% in 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 purchasing an additional 1,961,917 shares in the last quarter. Janus Henderson Group PLC lifted its position in 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 worth $1,140,650,000 after acquiring an additional 1,773,564 shares during the period. Select Equity Group L.P. purchased a new stake in CoStar Group during the 2nd quarter valued at about $60,761,000. Renaissance Technologies LLC acquired a new position in CoStar Group in the 2nd quarter worth approximately $46,692,000. Finally, Vanguard Group Inc. raised its holdings in shares of CoStar Group by 0.8% during the first quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock worth $6,322,615,000 after purchasing an additional 541,700 shares during the last quarter. 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.