Cynthia Cammett Cann Sells 1,200 Shares of CoStar Group, Inc. (NASDAQ:CSGP) Stock

CoStar Group, Inc. (NASDAQ:CSGP) CAO Cynthia Cammett Cann sold 1,200 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $78.20, for a total transaction of $93,840.00. Following the completion of the transaction, the chief accounting officer now owns 27,795 shares in the company, valued at approximately $2,173,569. The trade was a 4.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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 stock was sold at an average price of $79.90, for a total transaction of $139,745.10.

CoStar Group Stock Up 4.4 %

Shares of NASDAQ CSGP opened at $78.73 on Friday. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average of $75.32 and a 200-day moving average of $75.66. The firm has a market capitalization of $32.29 billion, a price-to-earnings ratio of 224.94 and a beta of 0.93. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. The business had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. Sell-side analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

CSGP has been the topic of several research reports. Craig Hallum initiated coverage on CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “buy” rating and a $89.00 target price for the company. JMP Securities reissued a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research report on Monday, December 16th. Finally, Wells Fargo & Company cut their price objective on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.07.

Hedge Funds Weigh In On CoStar Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Hopwood Financial Services Inc. bought a new stake in CoStar Group in the 4th quarter worth approximately $25,000. ORG Partners LLC raised its stake in shares of CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after acquiring an additional 353 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of CoStar Group in the 4th quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of CoStar Group in the 4th quarter valued at $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of CoStar Group by 414.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock valued at $36,000 after purchasing an additional 402 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

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.