Insider Selling: CoStar Group, Inc. (NASDAQ:CSGP) CAO Sells 1,310 Shares of Stock

CoStar Group, Inc. (NASDAQ:CSGP) CAO Cynthia Cammett Cann sold 1,310 shares of CoStar Group stock in a transaction on Monday, November 11th. The shares were sold at an average price of $76.85, for a total value of $100,673.50. Following the completion of the transaction, the chief accounting officer now owns 26,485 shares in the company, valued at approximately $2,035,372.25. The trade was a 4.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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 value of $139,745.10.

CoStar Group Stock Up 4.4 %

Shares of CSGP opened at $78.73 on Monday. The company has a market capitalization of $32.29 billion, a PE 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. The stock’s 50-day moving average price is $75.32 and its two-hundred day moving average price is $75.66. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

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

CoStar Group declared that its Board of Directors has initiated a share repurchase plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Colonial Trust Co SC lifted its stake in shares of CoStar Group by 27.4% in the 4th quarter. Colonial Trust Co SC now owns 674 shares of the technology company’s stock valued at $48,000 after purchasing an additional 145 shares during the period. DoubleLine ETF Adviser LP lifted its stake in shares of CoStar Group by 0.5% in the 4th quarter. DoubleLine ETF Adviser LP now owns 29,398 shares of the technology company’s stock valued at $2,105,000 after purchasing an additional 146 shares during the period. Moran Wealth Management LLC raised its stake in CoStar Group by 2.0% during the 3rd quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock worth $606,000 after buying an additional 161 shares during the period. Allworth Financial LP raised its stake in CoStar Group by 9.7% during the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock worth $144,000 after buying an additional 173 shares during the period. Finally, Atria Wealth Solutions Inc. raised its stake in CoStar Group by 2.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock worth $557,000 after buying an additional 176 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CSGP shares. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Wells Fargo & Company reduced their price objective on CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price objective on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods reduced their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. Finally, Stephens restated an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a research report on Tuesday, February 18th. Two investment 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.07.

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.