CoStar Group (NASDAQ:CSGP) Now Covered by Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of CoStar Group (NASDAQ:CSGP) in a report issued on Wednesday morning, MarketBeat.com reports. The brokerage issued an underweight rating and a $65.00 price objective on the technology company’s stock.

Several other analysts have also recently commented on the stock. Keefe, Bruyette & Woods lowered their target price on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research note on Tuesday, January 28th. JPMorgan Chase & Co. reduced their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a research report on Monday, January 6th. BMO Capital Markets lowered their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of CoStar Group in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.23.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $77.72 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The stock has a market cap of $31.86 billion, a PE ratio of 176.64 and a beta of 0.87. CoStar Group has a one year low of $68.26 and a one year high of $100.38. The business’s fifty day moving average price is $74.55 and its two-hundred day moving average price is $75.44.

Insiders Place Their Bets

In other news, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of CoStar Group in the 3rd quarter worth $40,000. JPMorgan Chase & Co. grew its stake 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 purchasing an additional 1,001,177 shares in the last quarter. Telemark Asset Management LLC grew its stake in shares of CoStar Group by 42.9% in the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock valued at $37,720,000 after buying an additional 150,000 shares in the last quarter. Swedbank AB grew its position in CoStar Group by 469.3% in the third quarter. Swedbank AB now owns 248,043 shares of the technology company’s stock worth $18,712,000 after acquiring an additional 204,474 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in CoStar Group by 16.2% in the third quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock worth $7,812,000 after purchasing an additional 14,468 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.