CoStar Group, Inc. (NASDAQ:CSGP) Insider Michael J. Desmarais Sells 2,000 Shares

CoStar Group, Inc. (NASDAQ:CSGPGet Rating) insider Michael J. Desmarais sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $72.51, for a total transaction of $145,020.00. Following the transaction, the insider now owns 39,619 shares in the company, valued at approximately $2,872,773.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

CoStar Group Price Performance

CSGP opened at $72.87 on Friday. The firm has a market cap of $28.85 billion, a P/E ratio of 86.75 and a beta of 0.92. The firm has a 50-day moving average of $61.95 and a 200 day moving average of $62.73. The company has a debt-to-equity ratio of 0.17, a quick ratio of 11.95 and a current ratio of 11.95. CoStar Group, Inc. has a fifty-two week low of $49.00 and a fifty-two week high of $101.05.

CoStar Group (NASDAQ:CSGPGet Rating) last issued its earnings results on Tuesday, July 26th. The technology company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.11. CoStar Group had a net margin of 16.03% and a return on equity of 7.31%. During the same quarter last year, the firm earned $0.22 earnings per share. On average, research analysts expect that CoStar Group, Inc. will post 0.97 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CSGP. Needham & Company LLC increased their target price on shares of CoStar Group from $77.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Citigroup increased their target price on shares of CoStar Group from $65.00 to $70.00 in a report on Wednesday, April 27th. Royal Bank of Canada increased their target price on shares of CoStar Group from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, April 11th. Finally, Truist Financial increased their target price on shares of CoStar Group to $75.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $79.88.

Institutional Investors Weigh In On CoStar Group

Institutional investors and hedge funds have recently modified their holdings of the company. M&T Bank Corp raised its stake in CoStar Group by 14.3% in the second quarter. M&T Bank Corp now owns 18,239 shares of the technology company’s stock valued at $908,000 after purchasing an additional 2,278 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of CoStar Group during the second quarter worth approximately $2,791,000. NS Partners Ltd raised its stake in shares of CoStar Group by 1.1% during the second quarter. NS Partners Ltd now owns 159,425 shares of the technology company’s stock worth $9,631,000 after acquiring an additional 1,717 shares in the last quarter. Markel Corp raised its stake in shares of CoStar Group by 5.7% during the second quarter. Markel Corp now owns 18,600 shares of the technology company’s stock worth $1,123,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Gilbert & Cook Inc. raised its stake in shares of CoStar Group by 6.2% during the second quarter. Gilbert & Cook Inc. now owns 9,591 shares of the technology company’s stock worth $579,000 after acquiring an additional 560 shares in the last quarter. 94.52% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Company Profile

(Get Rating)

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. It offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar COMPS, 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.

Further Reading

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