Michael J. Desmarais sells 3,800 shares of CoStar Group, Inc. (NASDAQ:CSGP) stock

CoStar Group, Inc. (NASDAQ:CSGP – Get a Free Report) insider Michael J. Desmarais sold 3,800 shares of CoStar Group in a transaction that occurred on Friday, April 26th. The shares sold at an average price of $92.67, for a total transaction of $352,146.00. Following the completion of the sale, the insider now owns 64,087 shares of the company’s stock, valued at $5,938,942.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

CoStar Group shares fell 1.3%

Shares of NASDAQ:CSGP opened at $90.36 on Thursday. The company has a fifty-day moving average of $90.33 and a 200-day moving average of $85.00. The company has a market cap of $36.90 billion, a price-to-earnings ratio of 123.78, a price-to-earnings-growth ratio of 10.35 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.09 and a current ratio of 9.09. CoStar Group, Inc. has a 52-week low of $67.35 and a 52-week high of $100.38.

CoStar Group (NASDAQ:CSGP – Get Free Report) last reported its quarterly results on Tuesday, February 20. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. The company had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.27 million. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The company’s revenue for the quarter increased 11.7% compared to the same quarter last year. During the same period last year, the company earned earnings per share of $0.35. On average, stock analysts predict that CoStar Group, Inc. will record a profit per share of 0.45 for the current financial year.

Institutional inflow and outflow

Institutional investors have recently changed their stock holdings. Norges Bank bought a new stake in shares of CoStar Group in the fourth quarter valued at $406,934,000. Capital International Investors grew its holdings in shares of CoStar Group by 32.2% in the fourth quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock worth $352,759,000 after purchasing an additional 982,837 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of CoStar Group by 49.2% in the fourth quarter. Capital Research Global Investors now owns 2,414,313 shares of the technology company’s stock worth $210,987,000 after purchasing an additional 796,386 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of CoStar Group by 4.0% in the third quarter. Principal Financial Group Inc. now owns 19,808,306 shares of the technology company’s stock worth $1,523,061,000 after purchasing an additional 761,383 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in shares of CoStar Group by 109.6% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,398,896 shares of the technology company’s stock worth $122,249,000 after purchasing an additional 731,375 shares during the last quarter. 96.60% of the shares are currently held by institutional investors and hedge funds.

Wall Street analysts predict growth

A number of equity research analysts have recently weighed in on CSGP stock. Robert W. Baird raised their target price on shares of CoStar Group from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, March 18. Keefe, Bruyette & Woods raised their price target on shares of CoStar Group from $96.00 to $109.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10. Jefferies Financial Group raised their price objective on shares of CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, April 12. BMO Capital Markets raised their price objective on shares of CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research report on Thursday, April 25. Finally, Stephens reiterated an “overweight” rating and set a $105.00 price objective on shares of CoStar Group in a research report on Wednesday, April 24. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and an average target price of $102.46.

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About CoStar Group

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CoStar Group, Inc provides information, analytics and online marketplace services to the commercial real estate, hospitality, residential and related professional industries in the United States, Canada, Europe, Asia Pacific and Latin America. The company offers CoStar Property, which offers inventory of office, industrial, retail, multifamily, hospitality and student housing and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregate market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytics tool that provides tenant information.

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