Insider Selling: CoStar Group, Inc. (NASDAQ:CSGP) CAO Sells $93,840.00 in Stock

CoStar Group, Inc. (NASDAQ:CSGP) CAO Cynthia Cammett Cann sold 1,200 shares of CoStar Group stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $78.20, for a total value of $93,840.00. Following the transaction, the chief accounting officer now owns 27,795 shares in the company, valued at $2,173,569. This trade represents a 4.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Cynthia Cammett Cann also recently made the following trade(s):

• On Monday, March 10th, Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock. The shares were sold at an average price of $79.90, for a total value of $139,745.10.

CoStar Group Trading Up 4.4 %

Shares of NASDAQ CSGP opened at $78.73 on Monday. The business’s 50 day moving average is $75.32 and its two-hundred day moving average is $75.66. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The stock has a market capitalization of $32.29 billion, a P/E ratio of 224.94 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $703.00 million. As a group, research analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its Board of Directors has authorized a stock buyback program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On CoStar Group

Several large investors have recently added to or reduced their stakes in CSGP. Bamco Inc. NY boosted its position in shares of CoStar Group by 2.2% during the fourth quarter. Bamco Inc. NY now owns 19,203,564 shares of the technology company’s stock valued at $1,374,783,000 after buying an additional 418,128 shares during the period. State Street Corp boosted its position in shares of CoStar Group by 4.4% during the third quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after buying an additional 722,153 shares during the period. Capital International Investors boosted its position in shares of CoStar Group by 44.9% during the fourth quarter. Capital International Investors now owns 14,032,363 shares of the technology company’s stock valued at $1,004,578,000 after buying an additional 4,345,267 shares during the period. Geode Capital Management LLC boosted its position in shares of CoStar Group by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 11,475,755 shares of the technology company’s stock valued at $819,678,000 after buying an additional 166,769 shares during the period. Finally, Akre Capital Management LLC boosted its position in shares of CoStar Group by 4.3% during the fourth quarter. Akre Capital Management LLC now owns 9,313,880 shares of the technology company’s stock valued at $666,781,000 after buying an additional 379,787 shares during the period. 96.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CSGP has been the topic of several analyst reports. Piper Sandler initiated coverage on CoStar Group in a research report on Friday, February 28th. They set an “overweight” rating on the stock. Wells Fargo & Company decreased their price target on CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a report on Wednesday, February 19th. JPMorgan Chase & Co. decreased their price target on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft started coverage on CoStar Group in a report on Friday, February 28th. They set a “buy” rating and a $89.00 price target on the stock. Finally, William Blair started coverage on CoStar Group in a report on Friday, February 28th. They set a “market perform” rating on the stock. Two investment 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.07.

CoStar Group Company Profile

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.