CoStar Group (NASDAQ:CSGP) Earns Overweight Rating from Stephens

CoStar Group (NASDAQ:CSGP)‘s stock had its “overweight” rating restated by stock analysts at Stephens in a research report issued on Tuesday,Benzinga reports. They presently have a $103.00 target price on the technology company’s stock. Stephens’ target price points to a potential upside of 38.91% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Citigroup cut their price objective 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. William Blair reiterated an “outperform” rating on shares of CoStar Group in a report on Monday, January 6th. JPMorgan Chase & Co. cut their price objective 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. Keefe, Bruyette & Woods dropped their target price on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. Finally, JMP Securities reissued a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research report on Monday, December 16th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $90.23.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $74.15 on Tuesday. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $30.40 billion, a price-to-earnings ratio of 168.33 and a beta of 0.87. The firm’s fifty day simple moving average is $73.81 and its 200 day simple moving average is $75.34. CoStar Group has a twelve month low of $68.26 and a twelve month high of $100.38.

Insider Transactions at CoStar Group

In related news, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction on 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 directly owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.57% of the stock is currently owned by company insiders.

Institutional Trading of CoStar Group

A number of hedge funds have recently bought and sold shares of CSGP. Polen Capital Management LLC bought a new stake in CoStar Group in the 4th quarter valued at $465,134,000. Norges Bank bought a new position in shares of CoStar Group during the 4th quarter worth about $390,755,000. Capital International Investors lifted its holdings in shares of CoStar Group by 44.9% during the 4th quarter. Capital International Investors now owns 14,032,363 shares of the technology company’s stock worth $1,004,578,000 after acquiring an additional 4,345,267 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of CoStar Group by 24.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,415,895 shares of the technology company’s stock worth $459,314,000 after purchasing an additional 1,267,263 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in CoStar Group by 2,181.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,129,307 shares of the technology company’s stock valued at $80,847,000 after acquiring an additional 1,079,815 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

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.