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

CoStar Group (NASDAQ:CSGP)‘s stock had its “overweight” rating restated by equities researchers at Stephens in a research report issued on Thursday,Benzinga reports. They currently have a $103.00 price target on the technology company’s stock. Stephens’ target price suggests a potential upside of 43.87% from the company’s previous close.

CSGP has been the subject of several other reports. Royal Bank of Canada downgraded CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. Citigroup reduced their target price on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. cut their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, 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. 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. According to data from MarketBeat, CoStar Group has an average rating of “Moderate Buy” and a consensus price target of $93.08.

CoStar Group Trading Down 0.3 %

Shares of CSGP stock opened at $71.59 on Thursday. The stock has a 50 day simple moving average of $75.39 and a 200-day simple moving average of $75.52. CoStar Group has a 1-year low of $68.26 and a 1-year high of $100.38. The company has a market cap of $29.35 billion, a price-to-earnings ratio of 162.71 and a beta of 0.83. 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 posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The business had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. During the same period last year, the firm posted $0.25 earnings per share. The company’s revenue was up 10.9% compared to the same quarter last year. On average, equities research analysts expect that CoStar Group will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the transaction, the insider now owns 58,798 shares in the company, valued at $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Andrew C. Florance acquired 14,731 shares of CoStar Group stock in a transaction dated Friday, October 25th. The stock was bought at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the purchase, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CoStar Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp increased its position in shares of CoStar Group by 4.4% in 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 during the last quarter. Geode Capital Management LLC increased its holdings in 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 valued at $850,656,000 after buying an additional 236,407 shares during the last quarter. Vulcan Value Partners LLC raised its stake in CoStar Group by 90.1% in the second 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. Charles Schwab Investment Management Inc. lifted its holdings in CoStar Group by 2.9% during 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 last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of CoStar Group by 16.9% during the 2nd quarter. Mackenzie Financial Corp now owns 2,358,526 shares of the technology company’s stock worth $174,861,000 after acquiring an additional 341,046 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.