Insider Selling: CoStar Group, Inc. (NASDAQ:CSGP) Insider Sells 3,800 Shares of Stock

CoStar Group, Inc. (NASDAQ:CSGP) insider Michael J. Desmarais sold 3,800 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.67, for a total value of $352,146.00. Following the transaction, the insider now owns 64,087 shares in the company, valued at approximately $5,938,942.29. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

CoStar Group Stock Performance

Shares of CSGP traded down $0.97 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 stock’s 50 day simple moving average is $89.99 and its two-hundred day simple moving average is $84.88. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.09 and a quick ratio of 9.09. The stock has a market capitalization of $37.38 billion, a P/E ratio of 126.71, a PEG ratio of 10.37 and a beta of 0.84. CoStar Group, Inc. has a 12-month low of $67.35 and a 12-month high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm 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 was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 EPS. Research analysts forecast that CoStar Group, Inc. will post 0.45 earnings per share for the current fiscal year.

Institutional Trading of CoStar Group

Several institutional investors have recently bought and sold shares of CSGP. Blue Trust Inc. boosted its position in CoStar Group by 125.4% during the fourth quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock worth $27,000 after acquiring an additional 173 shares during the last quarter. Riverview Trust Co purchased a new position in CoStar Group during the 1st quarter valued at about $35,000. Pinnacle Bancorp Inc. acquired a new position in CoStar Group during the 4th quarter worth $37,000. Connectus Wealth LLC increased its holdings in CoStar Group by 915.0% during the 4th quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock worth $45,000 after purchasing an additional 467,534 shares during the period. Finally, CVA Family Office LLC purchased a new position in shares of CoStar Group in the 4th quarter valued at about $60,000. 96.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSGP has been the subject of a number of analyst reports. BTIG Research assumed coverage on shares of CoStar Group in a research note on Friday, January 19th. They set a “neutral” rating for the company. The Goldman Sachs Group raised their price objective on CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. BMO Capital Markets boosted their target price on CoStar Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a report on Thursday, April 25th. Stephens reissued an “overweight” rating and issued a $105.00 target price on shares of CoStar Group in a research note on Wednesday, April 24th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 price target on shares of CoStar Group in a research report on Friday, April 12th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, CoStar Group presently has an average rating of “Moderate Buy” and a consensus price target 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.