CoStar Group (NASDAQ:CSGP) Now Covered by Analysts at Wells Fargo & Company

Stock analysts at Wells Fargo & Company assumed coverage on shares of CoStar Group (NASDAQ:CSGP) in a report released on Wednesday,Briefing.com Automated Import reports. The brokerage set an “underweight” rating and a $65.00 price target on the technology company’s stock. Wells Fargo & Company‘s price target indicates a potential downside of 16.09% from the stock’s current price.

Several other research analysts have also weighed in on the stock. JMP Securities reiterated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a report on Monday, December 16th. William Blair reiterated an “outperform” rating on shares of CoStar Group in a report on Monday, January 6th. Citigroup dropped their price objective on CoStar Group from $90.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $83.00 target price on shares of CoStar Group in a report on Friday, January 10th. Finally, Keefe, Bruyette & Woods cut their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $90.23.

CoStar Group Stock Performance

CoStar Group stock opened at $77.46 on Wednesday. The stock has a fifty day moving average price of $74.55 and a 200 day moving average price of $75.44. CoStar Group has a 52 week low of $68.26 and a 52 week high of $100.38. The firm has a market capitalization of $31.76 billion, a P/E ratio of 176.05 and a beta of 0.87. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

Insider Transactions at CoStar Group

In other news, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.57% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. ORG Partners LLC raised its stake in shares of CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after purchasing an additional 353 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in CoStar Group in the fourth quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. raised its stake in CoStar Group by 17,100.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock valued at $37,000 after buying an additional 513 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in CoStar Group during the 3rd quarter worth approximately $40,000. Finally, Centricity Wealth Management LLC acquired a new position in shares of CoStar Group in the 4th quarter worth approximately $40,000. 96.60% of the stock is currently owned by institutional investors.

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.