CoStar Group (NASDAQ:CSGP) Price Target Cut to $93.00 by Analysts at Keefe, Bruyette & Woods

CoStar Group (NASDAQ:CSGP) had its price target dropped by Keefe, Bruyette & Woods from $96.00 to $93.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 21.64% from the company’s current price.

Several other brokerages also recently weighed in on CSGP. William Blair reiterated an “outperform” rating on shares of CoStar Group in a report on Monday, January 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a research note on Friday, January 10th. BMO Capital Markets lowered their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. JMP Securities reiterated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Monday, December 16th. Finally, StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.33.

CoStar Group Price Performance

Shares of CSGP opened at $76.46 on Tuesday. 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 fifty day moving average price is $74.62 and its 200-day moving average price is $75.40. CoStar Group has a 1-year low of $68.26 and a 1-year high of $100.38. The firm has a market capitalization of $31.34 billion, a PE ratio of 173.77 and a beta of 0.85.

Insiders Place Their Bets

In related news, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 58,798 shares in the company, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CoStar Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CSGP. Barclays PLC raised its position in CoStar Group by 91.4% in the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after purchasing an additional 1,073,793 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in CoStar Group by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after acquiring an additional 1,001,177 shares in the last quarter. State Street Corp lifted its stake in CoStar Group by 4.4% in the third quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after acquiring an additional 722,153 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in CoStar Group during the 3rd quarter worth approximately $48,768,000. Finally, Icon Wealth Advisors LLC increased its position in shares of CoStar Group by 8,314.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 409,934 shares of the technology company’s stock valued at $30,925,000 after purchasing an additional 405,062 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

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.