Michael J. Desmarais Sells 5,500 Shares of CoStar Group, Inc. (NASDAQ:CSGP) Stock

CoStar Group, Inc. (NASDAQ:CSGP) insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the transaction, the insider now owns 58,798 shares of the company’s stock, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

CoStar Group Price Performance

Shares of CoStar Group stock opened at $81.97 on Friday. The stock has a market capitalization of $33.60 billion, a price-to-earnings ratio of 186.30 and a beta of 0.82. The company has a fifty day moving average of $75.78 and a 200-day moving average of $76.71. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. 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 announced its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $692.60 million for 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% compared to the same quarter last year. During the same period last year, the firm earned $0.25 earnings per share. Equities research analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a report on Tuesday, November 19th. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. 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 note on Thursday, October 24th. JPMorgan Chase & Co. dropped their price target on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets decreased their price objective on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and an average price target of $93.25.

Hedge Funds Weigh In On CoStar Group

Large investors have recently bought and sold shares of the stock. Ashton Thomas Securities LLC bought a new position in shares of CoStar Group in the third quarter worth approximately $40,000. Industrial Alliance Investment Management Inc. bought a new stake in CoStar Group in the 2nd quarter worth $49,000. Quarry LP purchased a new position in shares of CoStar Group in the second quarter valued at about $54,000. Rothschild Investment LLC bought a new position in shares of CoStar Group during the second quarter valued at about $73,000. Finally, Blue Trust Inc. boosted its holdings in shares of CoStar Group by 493.4% during the second quarter. Blue Trust Inc. now owns 1,080 shares of the technology company’s stock worth $80,000 after purchasing an additional 898 shares during the period. 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.