Insider Selling: CoStar Group, Inc. (NASDAQ:CSGP) CAO Sells 2,033 Shares of Stock

Key Points

• CoStar Group's CAO, Cynthia Cammett Cann, sold 2,033 shares of stock at an average price of $92.85, reducing her holdings by 7.31% to a total of 25,771 shares valued at approximately $2.39 million.
• The company's stock price has recently increased by 2.4%, reaching $95.59, with a market capitalization of $40.50 billion and a price-to-earnings ratio of 382.36.
• CoStar Group outperformed earnings estimates for the last quarter, reporting earnings per share of $0.17 and revenues of $781.30 million, which is a 15.2% increase year-over-year.

CoStar Group, Inc. (NASDAQ:CSGP - Get Free Report) CAO Cynthia Cammett Cann sold 2,033 shares of CoStar Group stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $92.85, for a total transaction of $188,764.05. Following the completion of the sale, the chief accounting officer directly owned 25,771 shares in the company, valued at $2,392,837.35. This trade represents a 7.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

CoStar Group Trading Up 2.4%

Shares of CSGP stock traded up $2.23 during mid-day trading on Tuesday, reaching $95.59. The stock had a trading volume of 3,968,821 shares, compared to its average volume of 3,216,675. The firm 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. The stock's 50-day moving average price is $81.09 and its two-hundred day moving average price is $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. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $95.66.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. The company had revenue of $781.30 million for the quarter, compared to the consensus estimate of $772.06 million. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%. CoStar Group's revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 EPS. Equities analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CSGP has been the subject of several analyst reports. Citigroup raised their price objective on shares of CoStar Group from $91.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. JMP Securities reaffirmed a "market outperform" rating and issued a $85.00 target price on shares of CoStar Group in a research note on Wednesday, April 30th. Needham & Company LLC lifted their price target on CoStar Group from $98.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. upped their price objective on shares of CoStar Group from $87.00 to $101.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and set a $70.00 target price (up previously from $65.00) on shares of CoStar Group in a report on Wednesday, July 16th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.25.

Hedge Funds Weigh In On CoStar Group

Several hedge funds have recently made changes to their positions in the business. Wayfinding Financial LLC bought a new stake in CoStar Group in the first quarter valued at $29,000. Bayforest Capital Ltd bought a new position in shares of CoStar Group in the 1st quarter worth approximately $29,000. GKV Capital Management Co. Inc. bought a new position in shares of CoStar Group in the 1st quarter worth approximately $31,000. Zions Bancorporation National Association UT bought a new stake in shares of CoStar Group during the first quarter valued at approximately $31,000. Finally, Cullen Frost Bankers Inc. boosted its position in shares of 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 owned by hedge funds and other institutional investors.

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.

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