Keefe, Bruyette & Woods Cuts CoStar Group (NASDAQ:CSGP) Price Target to $93.00

CoStar Group (NASDAQ:CSGP) had its price target trimmed by Keefe, Bruyette & Woods from $96.00 to $93.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

CSGP has been the topic of a number of other reports. Stephens reissued an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a report on Thursday, January 2nd. JMP Securities reissued a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a report on Monday, December 16th. Citigroup cut their price target on shares of CoStar Group from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Royal Bank of Canada restated a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a research note on Friday, January 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $92.33.

CoStar Group Stock Performance

CSGP opened at $76.52 on Tuesday. The company has a market cap of $31.37 billion, a P/E ratio of 173.91 and a beta of 0.85. 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 $74.75 and its 200-day moving average price is $75.41. CoStar Group has a 52-week low of $68.26 and a 52-week high of $100.38.

Insider Activity

In other news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.57% of the company’s stock.

Institutional Investors Weigh In On CoStar Group

Several institutional investors have recently bought and sold shares of the company. Barclays PLC lifted its position in shares of CoStar Group by 91.4% in the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after acquiring an additional 1,073,793 shares in the last quarter. JPMorgan Chase & Co. raised its stake in CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after purchasing an additional 1,001,177 shares during the last quarter. State Street Corp lifted its holdings in 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 in the last quarter. Point72 Asset Management L.P. acquired a new stake in CoStar Group during the 3rd quarter worth $48,768,000. Finally, Icon Wealth Advisors LLC raised its position in shares of CoStar Group by 8,314.1% in the third quarter. Icon Wealth Advisors LLC now owns 409,934 shares of the technology company’s stock valued at $30,925,000 after buying an additional 405,062 shares during the last quarter. 96.60% of the stock is currently 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.