Insider Selling: CoStar Group, Inc. (NASDAQ:CSGP) CAO Sells $139,745.10 in Stock

CoStar Group, Inc. (NASDAQ:CSGP) CAO Cynthia Cammett Cann sold 1,749 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $79.90, for a total value of $139,745.10. Following the sale, the chief accounting officer now directly owns 29,456 shares of the company’s stock, valued at $2,353,534.40. The trade was a 5.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

CoStar Group Stock Performance

Shares of NASDAQ:CSGP opened at $78.73 on Monday. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38. The firm has a market cap of $32.29 billion, a PE ratio of 224.94 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The business has a fifty day moving average of $75.32 and a 200-day moving average of $75.66.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The company had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. On average, equities research analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its Board of Directors has authorized a share buyback plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday, February 19th. William Blair started coverage on CoStar Group in a research report on Friday, February 28th. They issued a “market perform” rating for the company. Keefe, Bruyette & Woods reduced their target price on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft started coverage on CoStar Group in a research report on Friday, February 28th. They issued a “buy” rating and a $89.00 target price for the company. Finally, StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and an average price target of $88.07.

Institutional Trading of CoStar Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hopwood Financial Services Inc. acquired a new stake in shares of CoStar Group in the fourth quarter valued at $25,000. ORG Partners LLC boosted its holdings in CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after acquiring an additional 353 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in CoStar Group in the fourth quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in CoStar Group in the fourth quarter valued at about $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its holdings in CoStar Group by 414.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock valued at $36,000 after acquiring an additional 402 shares during the last quarter. 96.60% of the stock is currently 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.