Michael R. Klein Sells 71,633 Shares of CoStar Group, Inc. (NASDAQ:CSGP) Stock

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

CoStar Group Stock Down 1.4 %

Shares of CSGP opened at $73.24 on Wednesday. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The firm has a market capitalization of $30.03 billion, a P/E ratio of 166.46 and a beta of 0.81. The company has a 50-day simple moving average of $76.41 and a 200-day simple moving average of $78.57. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 EPS. On average, equities research analysts expect that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CSGP shares. JMP Securities restated a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a report on Friday, September 6th. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a report on Monday. Bank of America decreased their target price on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Robert W. Baird reduced their price objective on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lowered their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

Institutional Trading of CoStar Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSGP. Concurrent Investment Advisors LLC grew its stake in shares of CoStar Group by 4.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock valued at $242,000 after purchasing an additional 112 shares during the period. Picton Mahoney Asset Management raised its stake in CoStar Group by 2.9% during the second quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock worth $352,000 after acquiring an additional 135 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of CoStar Group by 1.6% during the third quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock valued at $652,000 after acquiring an additional 138 shares during the period. Redmond Asset Management LLC boosted its stake in shares of CoStar Group by 0.9% in the 1st quarter. Redmond Asset Management LLC now owns 18,670 shares of the technology company’s stock valued at $1,804,000 after purchasing an additional 169 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC grew its holdings in shares of CoStar Group by 0.5% in the 2nd quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock worth $2,688,000 after purchasing an additional 172 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

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.