CoStar Group (NASDAQ:CSGP) Given Sector Perform Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of CoStar Group (NASDAQ:CSGP) in a research note issued to investors on Friday,Benzinga reports. Royal Bank of Canada currently has a $83.00 price objective on the technology company’s stock.

CSGP has been the topic of a number of other reports. Citigroup dropped their target price on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. JMP Securities restated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. JPMorgan Chase & Co. reduced their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a research note on Monday, December 9th. Finally, Stephens reaffirmed an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a research report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.08.

CoStar Group Trading Down 2.1 %

CoStar Group stock opened at $69.87 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The firm has a 50-day moving average of $75.04 and a 200-day moving average of $75.39. The company has a market cap of $28.64 billion, a price-to-earnings ratio of 158.80 and a beta of 0.85. CoStar Group has a one year low of $68.26 and a one year high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The firm had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same period in the prior year, the firm posted $0.25 earnings per share. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, equities analysts expect that CoStar Group will post 0.52 earnings per share for the current fiscal year.

Insider Activity at CoStar Group

In other news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares in the company, valued at approximately $4,696,784.24. The trade was a 8.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew C. Florance purchased 14,731 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The shares were purchased at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the transaction, the chief executive officer now directly owns 1,263,098 shares in the company, valued at $94,315,527.66. This represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its holdings in shares of CoStar Group by 58.1% during the 2nd quarter. Private Advisor Group LLC now owns 10,048 shares of the technology company’s stock worth $745,000 after buying an additional 3,691 shares in the last quarter. Acadian Asset Management LLC acquired a new position in CoStar Group during the second quarter worth about $816,000. Caprock Group LLC acquired a new position in CoStar Group during the second quarter worth about $223,000. Quest Partners LLC lifted its holdings in shares of CoStar Group by 42,150.0% in the second quarter. Quest Partners LLC now owns 5,070 shares of the technology company’s stock worth $376,000 after acquiring an additional 5,058 shares during the last quarter. Finally, Choreo LLC acquired a new stake in shares of CoStar Group in the 2nd quarter valued at approximately $761,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

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.