CoStar Group (NASDAQ:CSGP) Stock Price Up 5.3% – Time to Buy?

CoStar Group, Inc. (NASDAQ:CSGP) shares traded up 5.3% during trading on Wednesday . The company traded as high as $76.08 and last traded at $75.91. 2,565,185 shares traded hands during trading, an increase of 7% from the average session volume of 2,388,720 shares. The stock had previously closed at $72.09.

Analyst Ratings Changes

A number of analysts have commented on the company. Citigroup decreased their target price on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. The Goldman Sachs Group reduced 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. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Robert W. Baird reduced their price objective on CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Finally, JMP Securities restated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

CoStar Group Price Performance

The company has a market capitalization of $31.27 billion, a price-to-earnings ratio of 167.28 and a beta of 0.82. 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 company has a 50 day simple moving average of $75.56 and a 200 day simple moving average of $77.08.

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

Insiders Place Their Bets

In other news, Director Michael R. Klein sold 71,633 shares of the 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 approximately $142,919,389.69. This trade represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew C. Florance bought 14,731 shares of the stock in a transaction dated Friday, October 25th. The stock was bought 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 approximately $94,315,527.66. This represents 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 insiders.

Institutional Investors Weigh In On CoStar Group

A number of hedge funds have recently bought and sold shares of the business. Picton Mahoney Asset Management grew its stake in CoStar Group by 2.9% during the 2nd quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock valued at $352,000 after purchasing an additional 135 shares in the last quarter. Bleakley Financial Group LLC grew its stake in CoStar Group by 1.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock valued at $652,000 after purchasing an additional 138 shares in the last quarter. Moran Wealth Management LLC grew its stake in CoStar Group by 2.0% during the 3rd quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock valued at $606,000 after purchasing an additional 161 shares in the last quarter. S.E.E.D. Planning Group LLC lifted its holdings in CoStar Group by 0.5% during 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 buying an additional 172 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co lifted its holdings in CoStar Group by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock worth $2,780,000 after buying an additional 188 shares during the last quarter. 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.