Cynthia Cammett Cann Sells 1,749 Shares of CoStar Group, Inc. (NASDAQ:CSGP) Stock

CoStar Group, Inc. (NASDAQ:CSGP) CAO Cynthia Cammett Cann sold 1,749 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the sale, the chief accounting officer now directly owns 29,456 shares of the company’s stock, valued at approximately $2,353,534.40. This trade represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

CoStar Group Price Performance

Shares of CSGP opened at $78.73 on Friday. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38. The firm’s fifty day simple moving average is $75.32 and its 200-day simple moving average is $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. 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 for the quarter, meeting analysts’ consensus estimates of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The business had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. Equities analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its board has approved a share buyback plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes 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 stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CSGP. Ashton Thomas Securities LLC purchased a new position in shares of CoStar Group in the 3rd quarter valued at $40,000. Apollon Wealth Management LLC purchased a new position in shares of CoStar Group in the 3rd quarter valued at $278,000. GSA Capital Partners LLP purchased a new position in CoStar Group during the 3rd quarter worth $230,000. Sumitomo Mitsui Trust Group Inc. grew its position in CoStar Group by 2.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 974,084 shares of the technology company’s stock worth $73,485,000 after purchasing an additional 23,825 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in CoStar Group by 3.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 34,912 shares of the technology company’s stock worth $2,634,000 after purchasing an additional 1,150 shares during the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CSGP shares. Needham & Company LLC lowered their price objective on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a research report on Wednesday, February 19th. William Blair started coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “market perform” rating for the company. Craig Hallum started coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “buy” rating for the company. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.