CoStar Group (NASDAQ:CSGP) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of CoStar Group (NASDAQ:CSGP) from a hold rating to a sell rating in a research note released on Monday morning.

CSGP has been the topic of several other research reports. JPMorgan Chase & Co. dropped 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. The Goldman Sachs Group lowered their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Robert W. Baird reduced their target price on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. BMO Capital Markets lowered their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Finally, Royal Bank of Canada downgraded CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. One 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 data from MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Stock Down 0.9 %

CSGP stock opened at $72.79 on Monday. The business has a 50 day moving average of $76.31 and a 200 day moving average of $78.50. The firm has a market cap of $29.84 billion, a PE ratio of 165.43 and a beta of 0.81. CoStar Group has a twelve month low of $68.26 and a twelve month high of $100.38. 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. The firm had revenue of $692.60 million during 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%. The company’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the company earned $0.25 earnings per share. On average, research analysts forecast that CoStar Group will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was 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 $142,919,389.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Andrew C. Florance acquired 14,731 shares of the stock in a transaction dated Friday, October 25th. The shares were bought at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the transaction, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by insiders.

Institutional Trading of CoStar Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of CoStar Group by 25.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,024 shares of the technology company’s stock worth $1,451,000 after purchasing an additional 3,008 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new stake in CoStar Group during the 1st quarter valued at approximately $206,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of CoStar Group by 1.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,675 shares of the technology company’s stock valued at $100,046,000 after buying an additional 17,658 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its holdings in shares of CoStar Group by 0.5% in the first quarter. Azzad Asset Management Inc. ADV now owns 97,214 shares of the technology company’s stock worth $9,391,000 after buying an additional 512 shares in the last quarter. Finally, Norden Group LLC bought a new position in shares of CoStar Group during the first quarter worth $1,504,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

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.