CoStar Group, Inc. (NASDAQ:CSGP) Short Interest Update

CoStar Group, Inc. (NASDAQ:CSGP) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 8,620,000 shares, a decline of 6.7% from the June 15th total of 9,240,000 shares. Based on an average trading volume of 2,330,000 shares, the days-to-cover ratio is presently 3.7 days.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CSGP shares. William Blair reiterated an “outperform” rating on shares of CoStar Group in a research report on Wednesday, April 24th. Stephens restated an “overweight” rating and set a $105.00 price target on shares of CoStar Group in a research report on Wednesday, April 24th. The Goldman Sachs Group upped their price target on shares of CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. BMO Capital Markets upped their price target on shares of CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research report on Thursday, April 25th. Finally, Needham & Company LLC upped their price target on shares of CoStar Group from $90.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.77.

CoStar Group Trading Down 1.4 %

CSGP stock traded down $1.05 during trading on Wednesday, reaching $75.92. The company had a trading volume of 2,622,544 shares, compared to its average volume of 2,263,223. CoStar Group has a 52 week low of $67.35 and a 52 week high of $100.38. The company has a market cap of $31.00 billion, a P/E ratio of 104.77, a PEG ratio of 11.32 and a beta of 0.81. The business has a 50 day moving average of $78.88 and a 200 day moving average of $84.41. 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 (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, April 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The company had revenue of $656.40 million during the quarter, compared to the consensus estimate of $649.27 million. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. As a group, sell-side analysts forecast that CoStar Group will post 0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 3,800 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $92.67, for a total transaction of $352,146.00. Following the sale, the insider now owns 64,087 shares of the company’s stock, valued at approximately $5,938,942.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Michael J. Desmarais sold 3,800 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $92.67, for a total transaction of $352,146.00. Following the completion of the transaction, the insider now directly owns 64,087 shares in the company, valued at approximately $5,938,942.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott T. Wheeler sold 122,736 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the transaction, the chief financial officer now owns 303,417 shares of the company’s stock, valued at $28,099,448.37. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

Institutional Investors Weigh In On CoStar Group

A number of hedge funds and other institutional investors have recently bought and sold shares of CSGP. Norges Bank purchased a new stake in CoStar Group in the fourth quarter worth about $406,934,000. Janus Henderson Group PLC grew its holdings in CoStar Group by 17.7% in the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock worth $1,140,650,000 after purchasing an additional 1,773,564 shares during the period. Capital International Investors grew its holdings in CoStar Group by 32.2% in the fourth quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock worth $352,759,000 after purchasing an additional 982,837 shares during the period. Capital Research Global Investors grew its holdings in CoStar Group by 49.2% in the fourth quarter. Capital Research Global Investors now owns 2,414,313 shares of the technology company’s stock worth $210,987,000 after purchasing an additional 796,386 shares during the period. Finally, Westfield Capital Management Co. LP grew its holdings in CoStar Group by 109.6% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,398,896 shares of the technology company’s stock worth $122,249,000 after purchasing an additional 731,375 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

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.