William Blair Reaffirms “Outperform” Rating for CoStar Group (NASDAQ:CSGP)

CoStar Group (NASDAQ:CSGP)‘s stock had its “outperform” rating reaffirmed by equities researchers at William Blair in a research note issued to investors on Monday,RTT News reports.

CSGP has been the subject of several other research reports. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of CoStar Group in a research report on Monday, December 9th. JMP Securities reissued a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a report on Monday, December 16th. Stephens reaffirmed an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a report on Thursday. JPMorgan Chase & Co. reduced their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, BMO Capital Markets cut 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 note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, CoStar Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.08.

CoStar Group Stock Performance

Shares of CSGP stock traded down $1.04 during trading hours on Monday, reaching $71.21. 1,952,749 shares of the company’s stock were exchanged, compared to its average volume of 2,090,983. CoStar Group has a 1 year low of $68.26 and a 1 year high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The company’s 50 day moving average is $75.28 and its two-hundred day moving average is $75.52. The company has a market cap of $29.19 billion, a P/E ratio of 161.84 and a beta of 0.85.

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

Insider Activity

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares of the company’s stock, valued at $4,696,784.24. This represents a 8.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Andrew C. Florance bought 14,731 shares of the stock in a transaction dated Friday, October 25th. The shares were acquired at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the acquisition, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This trade 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 company insiders.

Institutional Trading of CoStar Group

Large investors have recently bought and sold shares of the business. Bleakley Financial Group LLC boosted its position 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 worth $652,000 after buying an additional 138 shares during the period. Moran Wealth Management LLC boosted its holdings in CoStar Group by 2.0% in the third quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock worth $606,000 after acquiring an additional 161 shares in the last quarter. Elo Mutual Pension Insurance Co grew its position in CoStar Group by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock valued at $2,780,000 after purchasing an additional 188 shares during the period. Dynamic Technology Lab Private Ltd raised its holdings in shares of CoStar Group by 1.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock worth $1,443,000 after acquiring an additional 209 shares during the last quarter. Finally, Bell Bank lifted its stake in CoStar Group by 1.3% during the 3rd quarter. Bell Bank now owns 18,232 shares of the technology company’s stock valued at $1,375,000 after acquiring an additional 234 shares in the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

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.