CoStar Group (NASDAQ:CSGP) Stock Rating Lowered by StockNews.com

CoStar Group (NASDAQ:CSGP) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Several other brokerages also recently weighed in on CSGP. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of CoStar Group in a research note on Monday, December 9th. Stephens restated an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a report on Thursday, January 2nd. JPMorgan Chase & Co. decreased their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $83.00 target price on shares of CoStar Group in a report on Friday, January 10th. Finally, William Blair reissued an “outperform” rating on shares of CoStar Group in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $92.92.

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $73.42 on Wednesday. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The business has a 50 day moving average price of $74.80 and a two-hundred day moving average price of $75.34. 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 has a market cap of $30.10 billion, a PE ratio of 166.87 and a beta of 0.85.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. CoStar Group’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. Sell-side analysts expect that CoStar Group will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling at CoStar Group

In other news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the sale, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.69, for a total value of $5,350,268.77. Following the completion of the sale, the director now owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

Institutional Trading of CoStar Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Solidarity Wealth LLC acquired a new position in shares of CoStar Group in the fourth quarter valued at approximately $2,714,000. Aurora Investment Managers LLC. grew its position in shares of CoStar Group by 1.5% in the fourth quarter. Aurora Investment Managers LLC. now owns 22,193 shares of the technology company’s stock valued at $1,589,000 after purchasing an additional 336 shares during the last quarter. UMB Bank n.a. grew its position in shares of CoStar Group by 6.1% in the fourth quarter. UMB Bank n.a. now owns 82,653 shares of the technology company’s stock valued at $5,917,000 after purchasing an additional 4,778 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in shares of CoStar Group in the fourth quarter valued at approximately $626,000. Finally, Diversify Wealth Management LLC acquired a new position in shares of CoStar Group in the fourth quarter valued at approximately $437,000. Institutional investors own 96.60% of the company’s stock.

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.