CoStar Group (NASDAQ:CSGP) Stock: Insider John Hill Sells 3,050 Shares

Key Points

• CoStar director John Hill sold 3,050 shares at an average $30.18 for about $92,049, reducing his stake by 13.26% to 19,943 shares.
• Shares rose 2.9% to $30.96 in Friday midday trading, though they remained below the 200-day moving average of $35.45.
• Quarterly results beat estimates: CoStar reported EPS of $0.38 and revenue of $952 million, up 14.1% year over year. Analysts’ average rating was “Hold,” with an average price target of $39.11.

CoStar Group, Inc. (NASDAQ:CSGP - Get Free Report) Director John Hill sold 3,050 shares of the business's stock in a transaction on Thursday, November 12th. The shares were sold at an average price of $30.18, for a total transaction of $92,049.00. Following the sale, the director owned 19,943 shares in the company, valued at approximately $601,879.74. This trade represents a 13.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

CoStar Group Stock Up 2.9%

Shares of NASDAQ:CSGP traded up $0.86 during midday trading on Friday, reaching $30.96. The company's stock had a trading volume of 3,185,465 shares, compared to its average volume of 6,971,212. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.12. The firm has a 50 day moving average of $30.15 and a 200-day moving average of $35.45. The firm has a market capitalization of $12.46 billion, a P/E ratio of 70.37, a PEG ratio of 0.77 and a beta of 0.79. CoStar Group, Inc. has a 12-month low of $25.89 and a 12-month high of $70.57.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The technology company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. The business had revenue of $952.00 million for the quarter, compared to analyst estimates of $945.82 million. CoStar Group had a net margin of 4.87% and a return on equity of 4.87%. CoStar Group's quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share. On average, research analysts anticipate that CoStar Group, Inc. will post 1.12 earnings per share for the current year.

Wall Street Analyst Weigh In

CSGP has been the topic of several analyst reports. Citigroup reissued a "market outperform" rating on shares of CoStar Group in a report on Wednesday, October 28th. The Goldman Sachs Group set a $36.00 price target on CoStar Group in a research report on Wednesday, October 28th. JPMorgan Chase & Co. cut their price objective on shares of CoStar Group from $52.00 to $44.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 28th. BTIG Research reduced their price objective on shares of CoStar Group from $42.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, October 28th. Finally, William Blair cut shares of CoStar Group from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $39.11.

Institutional Investors Weigh In On CoStar Group

Several institutional investors have recently modified their holdings of CSGP. Three Bridge Wealth Advisors LLC purchased a new position in CoStar Group in the 3rd quarter worth about $31,000. Transamerica Financial Advisors LLC bought a new position in shares of CoStar Group during the 2nd quarter valued at $33,000. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of CoStar Group by 56.8% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,380 shares of the technology company's stock valued at $38,000 after purchasing an additional 500 shares during the last quarter. Legacies Wealth LLC bought a new position in shares of CoStar Group in the 3rd quarter worth approximately $44,000. Finally, Pin Oak Investment Advisors Inc. bought a new position in shares of CoStar Group in the 2nd quarter worth approximately $47,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

About CoStar Group

CoStar Group, Inc. is a provider of commercial real estate information, analytics and online marketplaces. Its services help real estate professionals, investors, lenders and businesses research properties, evaluate markets and connect with buyers, sellers and tenants. The company's brands include CoStar, which provides commercial property data and research; LoopNet, a commercial property marketplace; Apartments.com, a rental listings platform; and STR, which supplies benchmarking data for the hospitality industry.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.