CoStar Group, Inc. (NASDAQ:CSGP – Get Free Report) shares gapped down prior to trading on Wednesday after Robert W. Baird lowered their price target on the stock from $100.00 to $98.00. The stock had previously closed at $91.80, but opened at $86.83. CoStar Group shares last traded at $84.41, with a volume of 3,170,488 shares trading hands.
Several other research analysts have also issued reports on CSGP. StockNews.com initiated coverage on CoStar Group in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Needham & Company LLC raised their target price on CoStar Group from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank of Canada raised their price objective on CoStar Group from $85.00 to $95.00 in a report on Thursday, July 6th. Bank of America dropped their price objective on CoStar Group from $104.00 to $101.00 in a report on Wednesday. Finally, Truist Financial boosted their price objective on CoStar Group from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.75.
Insider Transactions at CoStar Group
In other CoStar Group news, VP Lisa Ruggles sold 30,474 shares of the company’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $91.42, for a total value of $2,785,933.08. Following the sale, the vice president now owns 156,208 shares in the company, valued at approximately $14,280,535.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other CoStar Group news, CTO Frank Simuro sold 92,300 shares of the stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $89.65, for a total transaction of $8,274,695.00. Following the sale, the chief technology officer now directly owns 264,483 shares in the company, valued at approximately $23,710,900.95. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Lisa Ruggles sold 30,474 shares of CoStar Group stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $91.42, for a total transaction of $2,785,933.08. Following the transaction, the vice president now owns 156,208 shares of the company’s stock, valued at approximately $14,280,535.36. The disclosure for this sale can be found here. Insiders have sold a total of 170,474 shares of company stock valued at $15,103,488 in the last ninety days. 1.58% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On CoStar Group
Institutional investors and hedge funds have recently bought and sold shares of the business. Institute for Wealth Management LLC. increased its holdings in CoStar Group by 3.0% in the 2nd quarter. Institute for Wealth Management LLC. now owns 19,160 shares of the technology company’s stock worth $1,705,000 after acquiring an additional 559 shares during the last quarter. Fifth Third Bancorp raised its holdings in CoStar Group by 14.0% in the 2nd quarter. Fifth Third Bancorp now owns 5,373 shares of the technology company’s stock worth $478,000 after purchasing an additional 659 shares during the period. Riverbridge Partners LLC increased its stake in CoStar Group by 3.3% during the second quarter. Riverbridge Partners LLC now owns 2,567,355 shares of the technology company’s stock worth $228,495,000 after acquiring an additional 81,068 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in CoStar Group by 11.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 16,643 shares of the technology company’s stock valued at $1,481,000 after purchasing an additional 1,685 shares during the period. Finally, Summit Trail Advisors LLC purchased a new stake in CoStar Group in the 2nd quarter valued at approximately $216,000. 93.86% of the stock is owned by institutional investors.
CoStar Group Price Performance
The company has a current ratio of 13.21, a quick ratio of 13.21 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $84.42 and a two-hundred day simple moving average of $77.09. The company has a market cap of $34.69 billion, a PE ratio of 93.35, a price-to-earnings-growth ratio of 4.24 and a beta of 0.90.
CoStar Group (NASDAQ:CSGP – Get Free Report) last announced its earnings results on Tuesday, April 25th. The technology company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. The business had revenue of $584.37 million during the quarter, compared to analysts’ expectations of $579.36 million. CoStar Group had a net margin of 16.32% and a return on equity of 6.73%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 earnings per share. On average, equities analysts predict that CoStar Group, Inc. will post 1.07 EPS for the current fiscal year.
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.