CoStar Group (CSGP) Director Sells $1,084,830.00 in Stock

CoStar Group (NASDAQ:CSGP) Director Michael R. Klein sold 3,000 shares of the firm’s stock in a transaction on Thursday, March 22nd. The shares were sold at an average price of $361.61, for a total value of $1,084,830.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of CoStar Group (NASDAQ:CSGP) opened at $361.42 on Monday. CoStar Group has a twelve month low of $197.55 and a twelve month high of $378.57. The firm has a market capitalization of $13,045.46, a price-to-earnings ratio of 99.84, a P/E/G ratio of 3.45 and a beta of 1.61.

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CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Wednesday, February 21st. The technology company reported $1.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.01. CoStar Group had a return on equity of 6.75% and a net margin of 12.71%. The company had revenue of $253.99 million for the quarter, compared to the consensus estimate of $253.74 million. During the same quarter last year, the business posted $1.29 EPS. CoStar Group’s revenue for the quarter was up 16.3% on a year-over-year basis. equities research analysts anticipate that CoStar Group will post 6.25 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CSGP. Lenox Wealth Advisors Inc. acquired a new stake in shares of CoStar Group during the 4th quarter valued at $102,000. Cerebellum GP LLC acquired a new stake in shares of CoStar Group during the 4th quarter valued at $129,000. Corient Capital Partners LLC acquired a new stake in shares of CoStar Group during the 4th quarter valued at $204,000. Hengehold Capital Management LLC acquired a new stake in shares of CoStar Group during the 4th quarter valued at $206,000. Finally, IFM Investors Pty Ltd acquired a new stake in shares of CoStar Group during the 4th quarter valued at $219,000. 98.56% of the stock is currently owned by institutional investors.

CSGP has been the topic of a number of research analyst reports. BidaskClub downgraded CoStar Group from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. JPMorgan Chase & Co. downgraded CoStar Group from an “overweight” rating to an “underweight” rating and set a $325.00 target price on the stock. in a report on Tuesday, December 12th. Needham & Company LLC raised their target price on CoStar Group to $350.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. Wells Fargo set a $400.00 target price on CoStar Group and gave the company a “buy” rating in a report on Thursday, January 18th. Finally, Citigroup reaffirmed a “buy” rating and issued a $425.00 target price (up previously from $320.00) on shares of CoStar Group in a report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $380.10.

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CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplace to the commercial real estate industry in North America and internationally. The company offers CoStar Property Professional service that provides inventory of office, industrial, retail, and multifamily properties and land. It also provides CoStar COMPS Professional, which covers comparable commercial real estate sales information; CoStar Tenant, an online business-to-business prospecting and analytical tool; CoStarGo, an iPad and Android application; CoStar Lease Comps, an integrated solution that captures, manages, maintains, and analyzes lease data; CoStar Advertising to market a space for lease or a property for sale; and CoStar Portfolio Strategy to meet the research needs of commercial real estate owners, investors, lenders, and government regulators.

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