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 issued on Wednesday.

Several other research firms also recently weighed in on CSGP. Stephens reissued an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a research report on Thursday, January 2nd. JMP Securities restated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. BMO Capital Markets lowered their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a research report on Friday, January 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, CoStar Group presently has an average rating of “Moderate Buy” and an average price target of $92.92.

CoStar Group Stock Performance

Shares of CSGP stock opened at $73.42 on Wednesday. The stock has a fifty day moving average of $74.80 and a 200 day moving average of $75.34. CoStar Group has a 52 week low of $68.26 and a 52 week high of $100.38. The firm has a market capitalization of $30.10 billion, a price-to-earnings ratio of 166.87 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.

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

Insider Buying and Selling at CoStar Group

In related news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was 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 in the company, 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 through the SEC website. Also, CEO Andrew C. Florance acquired 14,731 shares of CoStar Group stock in a transaction on Friday, October 25th. The stock was purchased at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the purchase, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. The trade was a 1.18 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CSGP. ORG Partners LLC grew its holdings in CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after purchasing an additional 353 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of CoStar Group in the 3rd quarter worth about $40,000. Quarry LP purchased a new position in shares of CoStar Group in the 2nd quarter worth about $54,000. Brooklyn Investment Group purchased a new position in shares of CoStar Group in the 3rd quarter worth about $91,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of CoStar Group by 55.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,374 shares of the technology company’s stock worth $104,000 after purchasing an additional 488 shares during the period. Institutional investors and hedge funds 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.