CoStar Group, Inc. (NASDAQ:CSGP) CFO Sells $11,366,580.96 in Stock

CoStar Group, Inc. (NASDAQ:CSGP) CFO Scott T. Wheeler sold 122,736 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the completion of the transaction, the chief financial officer now owns 303,417 shares of the company’s stock, valued at $28,099,448.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

CoStar Group Stock Down 1.0 %

NASDAQ CSGP traded down $0.97 during trading on Tuesday, reaching $91.53. The company’s stock had a trading volume of 2,190,510 shares, compared to its average volume of 2,182,164. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $37.38 billion, a PE ratio of 126.71, a PEG ratio of 10.37 and a beta of 0.84. The business has a 50-day moving average price of $89.99 and a 200-day moving average price of $84.88. CoStar Group, Inc. has a 1-year low of $67.35 and a 1-year high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The company had revenue of $640.00 million for the quarter, compared to analyst estimates of $634.27 million. During the same quarter last year, the firm posted $0.35 earnings per share. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, research analysts forecast that CoStar Group, Inc. will post 0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CoStar Group

A number of institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC raised its position in shares of CoStar Group by 5.4% in the first quarter. Commonwealth Equity Services LLC now owns 27,654 shares of the technology company’s stock valued at $2,671,000 after purchasing an additional 1,416 shares during the period. Benjamin Edwards Inc. increased its position in CoStar Group by 7.2% during the first quarter. Benjamin Edwards Inc. now owns 3,243 shares of the technology company’s stock worth $313,000 after acquiring an additional 218 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in CoStar Group by 22.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 14,899 shares of the technology company’s stock worth $1,439,000 after acquiring an additional 2,710 shares during the period. China Universal Asset Management Co. Ltd. increased its position in CoStar Group by 125.7% during the first quarter. China Universal Asset Management Co. Ltd. now owns 1,842 shares of the technology company’s stock worth $178,000 after acquiring an additional 1,026 shares during the period. Finally, Foster Victor Wealth Advisors LLC increased its position in CoStar Group by 6.7% during the first quarter. Foster Victor Wealth Advisors LLC now owns 100,442 shares of the technology company’s stock worth $9,320,000 after acquiring an additional 6,272 shares during the period. Institutional investors own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CSGP. Stephens reiterated an “overweight” rating and issued a $105.00 target price on shares of CoStar Group in a report on Wednesday, April 24th. The Goldman Sachs Group raised their price target on shares of CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Citigroup raised their price target on shares of CoStar Group from $90.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Keefe, Bruyette & Woods raised their price target on shares of CoStar Group from $96.00 to $109.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, William Blair restated an “outperform” rating on shares of CoStar Group in a report on Wednesday, April 24th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.46.

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.