CoStar Group, Inc. (NASDAQ:CSGP) Insider Sells $2,330,750.00 in Stock

Key Points

• CoStar Group insider Frederick G. Saint sold 25,000 shares of stock, valued at $2,330,750, reducing his ownership in the company by 7.26%.
• The company reported quarterly earnings of $0.17 EPS, exceeding expectations, with a revenue of $781.3 million for the period, reflecting a 15.2% year-over-year increase.
• CoStar Group's stock currently has a consensus rating of "Moderate Buy", with analysts suggesting a price target of approximately $93.25.

CoStar Group, Inc. (NASDAQ:CSGP - Get Free Report) insider Frederick G. Saint sold 25,000 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $93.23, for a total value of $2,330,750.00. Following the sale, the insider directly owned 319,539 shares in the company, valued at $29,790,620.97. The trade was a 7.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

CoStar Group Stock Performance

CSGP stock traded up $2.23 during mid-day trading on Tuesday, hitting $95.59. 3,968,821 shares of the company were exchanged, compared to its average volume of 3,216,675. The business has a 50 day simple moving average of $81.09 and a 200-day simple moving average of $78.42. The company has a current ratio of 5.83, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $40.50 billion, a PE ratio of 382.36, a price-to-earnings-growth ratio of 4.53 and a beta of 0.89. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $95.66.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. The firm had revenue of $781.30 million during the quarter, compared to the consensus estimate of $772.06 million. CoStar Group had a net margin of 3.57% and a return on equity of 2.88%. The business's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period last year, the business posted $0.15 earnings per share. On average, equities analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

Institutional Investors Weigh In On CoStar Group

Hedge funds have recently bought and sold shares of the stock. Bayforest Capital Ltd acquired a new stake in shares of CoStar Group in the first quarter valued at approximately $29,000. Wayfinding Financial LLC acquired a new position in CoStar Group during the first quarter valued at approximately $29,000. GKV Capital Management Co. Inc. acquired a new position in CoStar Group during the first quarter valued at approximately $31,000. Zions Bancorporation National Association UT acquired a new position in CoStar Group during the first quarter valued at approximately $31,000. Finally, Cullen Frost Bankers Inc. raised its position in CoStar Group by 137.4% during the first quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock valued at $32,000 after purchasing an additional 235 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CSGP. Royal Bank Of Canada raised their price objective on CoStar Group from $83.00 to $91.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company reissued an "underweight" rating and issued a $70.00 price target (up previously from $65.00) on shares of CoStar Group in a research note on Wednesday, July 16th. BMO Capital Markets lifted their price target on CoStar Group from $82.00 to $89.00 and gave the company a "market perform" rating in a research note on Wednesday, July 23rd. Needham & Company LLC lifted their price target on CoStar Group from $98.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, William Blair restated an "outperform" rating on shares of CoStar Group in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.25.

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.

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