CoStar Group, Inc. (NASDAQ:CSGP) CAO Cynthia Cammett Cann Sells 1,310 Shares

CoStar Group, Inc. (NASDAQ:CSGP) CAO Cynthia Cammett Cann sold 1,310 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $76.85, for a total transaction of $100,673.50. Following the sale, the chief accounting officer now owns 26,485 shares in the company, valued at $2,035,372.25. The trade was a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Cynthia Cammett Cann also recently made the following trade(s):

• On Monday, March 10th, Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10.

CoStar Group Trading Up 4.4 %

Shares of CSGP opened at $78.73 on Friday. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The company has a 50-day moving average of $75.32 and a 200 day moving average of $75.68. The firm has a market capitalization of $32.29 billion, a price-to-earnings ratio of 224.94 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The company had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. On average, research analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its board has approved a stock repurchase plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On CoStar Group

Several large investors have recently modified their holdings of the business. Bamco Inc. NY raised its holdings in shares of CoStar Group by 2.2% in the 4th quarter. Bamco Inc. NY now owns 19,203,564 shares of the technology company’s stock valued at $1,374,783,000 after purchasing an additional 418,128 shares in the last quarter. State Street Corp raised its holdings in shares of CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after purchasing an additional 722,153 shares in the last quarter. Capital International Investors raised its holdings in shares of CoStar Group by 44.9% in the 4th quarter. Capital International Investors now owns 14,032,363 shares of the technology company’s stock valued at $1,004,578,000 after purchasing an additional 4,345,267 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of CoStar Group by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 11,475,755 shares of the technology company’s stock valued at $819,678,000 after purchasing an additional 166,769 shares in the last quarter. Finally, Akre Capital Management LLC raised its holdings in shares of CoStar Group by 4.3% in the 4th quarter. Akre Capital Management LLC now owns 9,313,880 shares of the technology company’s stock valued at $666,781,000 after purchasing an additional 379,787 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CSGP. Deutsche Bank Aktiengesellschaft began coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a “buy” rating and a $89.00 target price for the company. The Goldman Sachs Group began coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a “buy” rating for the company. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a research note on Monday, December 16th. Piper Sandler started coverage on shares of CoStar Group in a research note on Friday, February 28th. They set an “overweight” rating for the company. Finally, Citigroup dropped their price objective on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.07.

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.