CoStar Group (NASDAQ:CSGP) Shares Gap Down to $76.64

CoStar Group, Inc. (NASDAQ:CSGPGet Rating) gapped down before the market opened on Wednesday . The stock had previously closed at $76.64, but opened at $75.05. CoStar Group shares last traded at $74.29, with a volume of 24,255 shares trading hands.

Analyst Ratings Changes

A number of research analysts have commented on the stock. BMO Capital Markets assumed coverage on shares of CoStar Group in a research report on Monday. They set a “market perform” rating and a $83.00 price target on the stock. Citigroup increased their price target on shares of CoStar Group from $75.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday. Needham & Company LLC raised their target price on shares of CoStar Group from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. Robert W. Baird raised their target price on shares of CoStar Group from $75.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, August 18th. Finally, Truist Financial raised their target price on shares of CoStar Group to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $85.78.

CoStar Group Trading Down 2.0 %

The firm has a market cap of $28.70 billion, a P/E ratio of 86.30 and a beta of 0.93. The firm’s fifty day moving average is $69.63 and its two-hundred day moving average is $63.95. The company has a quick ratio of 11.95, a current ratio of 11.95 and a debt-to-equity ratio of 0.17.

CoStar Group (NASDAQ:CSGPGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The technology company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.11. CoStar Group had a net margin of 16.03% and a return on equity of 7.31%. During the same period in the previous year, the company earned $0.22 EPS. Analysts predict that CoStar Group, Inc. will post 0.96 earnings per share for the current fiscal year.

Insider Activity at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $72.51, for a total transaction of $145,020.00. Following the completion of the transaction, the insider now owns 39,619 shares of the company’s stock, valued at $2,872,773.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other CoStar Group news, Director John W. Hill sold 1,400 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $74.49, for a total transaction of $104,286.00. Following the completion of the transaction, the director now owns 20,598 shares of the company’s stock, valued at $1,534,345.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Desmarais sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $72.51, for a total value of $145,020.00. Following the transaction, the insider now directly owns 39,619 shares of the company’s stock, valued at approximately $2,872,773.69. The disclosure for this sale can be found here. 1.42% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CoStar Group

Large investors have recently modified their holdings of the stock. Lazard Asset Management LLC raised its position in shares of CoStar Group by 43.3% in the 2nd quarter. Lazard Asset Management LLC now owns 493 shares of the technology company’s stock worth $29,000 after purchasing an additional 149 shares during the last quarter. Allworth Financial LP raised its position in shares of CoStar Group by 16,125.0% in the 1st quarter. Allworth Financial LP now owns 649 shares of the technology company’s stock worth $43,000 after purchasing an additional 645 shares during the last quarter. McIlrath & Eck LLC raised its position in shares of CoStar Group by 88.7% in the 2nd quarter. McIlrath & Eck LLC now owns 717 shares of the technology company’s stock worth $43,000 after purchasing an additional 337 shares during the last quarter. Harbor Investment Advisory LLC raised its position in shares of CoStar Group by 46.2% in the 2nd quarter. Harbor Investment Advisory LLC now owns 731 shares of the technology company’s stock worth $44,000 after purchasing an additional 231 shares during the last quarter. Finally, O Dell Group LLC purchased a new position in shares of CoStar Group in the 1st quarter worth about $51,000. Hedge funds and other institutional investors own 95.29% of the company’s stock.

CoStar Group Company Profile

(Get Rating)

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. It offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar COMPS, 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.

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