CoStar Group, Inc. (NASDAQ:CSGP) CFO Scott T. Wheeler Sells 122,736 Shares

CoStar Group, Inc. (NASDAQ:CSGP) CFO Scott T. Wheeler sold 122,736 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $92.61, for a total value of $11,366,580.96. Following the completion of the transaction, the chief financial officer now owns 303,417 shares of the company’s stock, valued at approximately $28,099,448.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

CoStar Group Stock Down 1.0 %

Shares of CoStar Group stock opened at $91.53 on Wednesday. The firm has a market cap of $37.38 billion, a price-to-earnings ratio of 125.38, a P/E/G ratio of 10.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.09 and a quick ratio of 9.09. CoStar Group, Inc. has a 52-week low of $67.35 and a 52-week high of $100.38. The stock has a 50-day simple moving average of $90.20 and a 200-day simple moving average of $84.96.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.27 million. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 EPS. On average, equities research analysts expect that CoStar Group, Inc. will post 0.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CSGP. The Goldman Sachs Group increased their price target on CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Needham & Company LLC raised their price objective on CoStar Group from $90.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. BTIG Research started coverage on CoStar Group in a research report on Friday, January 19th. They set a “neutral” rating for the company. William Blair restated an “outperform” rating on shares of CoStar Group in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group raised their price objective on CoStar Group from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, CoStar Group has an average rating of “Moderate Buy” and an average target price of $102.46.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CSGP. Commonwealth Equity Services LLC raised its stake in shares of CoStar Group by 2.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 25,340 shares of the technology company’s stock valued at $1,948,000 after acquiring an additional 552 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new position in shares of CoStar Group in the 3rd quarter valued at approximately $759,000. Robeco Institutional Asset Management B.V. raised its stake in shares of CoStar Group by 31.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 96,670 shares of the technology company’s stock valued at $7,433,000 after acquiring an additional 23,374 shares in the last quarter. Xponance Inc. raised its stake in shares of CoStar Group by 1.7% in the 3rd quarter. Xponance Inc. now owns 67,587 shares of the technology company’s stock valued at $5,197,000 after acquiring an additional 1,141 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of CoStar Group by 4.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,528,098 shares of the technology company’s stock valued at $425,056,000 after acquiring an additional 218,094 shares in the last quarter. 96.60% of the stock is 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.