Brokerages Set CoStar Group, Inc. (NASDAQ:CSGP) Price Target at $90.23

Shares of CoStar Group, Inc. (NASDAQ:CSGP) have been given an average rating of “Moderate Buy” by the fourteen brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $90.23.

A number of equities research analysts have weighed in on the company. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Wells Fargo & Company assumed coverage on shares of CoStar Group in a research report on Wednesday, February 5th. They issued an “underweight” rating and a $65.00 price target for the company. Keefe, Bruyette & Woods lowered their price objective on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. JPMorgan Chase & Co. reduced their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of CoStar Group in a research note on Monday, December 9th.

CoStar Group Stock Down 1.3 %

CoStar Group stock opened at $76.00 on Friday. The company has a market capitalization of $31.16 billion, a P/E ratio of 172.73 and a beta of 0.87. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The stock has a 50-day simple moving average of $74.25 and a 200-day simple moving average of $75.48.

Insider Buying and Selling

In related news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the sale, the insider now owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CoStar Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new position in CoStar Group in the 3rd quarter valued at approximately $40,000. JPMorgan Chase & Co. increased its position in shares of CoStar Group by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after buying an additional 1,001,177 shares in the last quarter. Telemark Asset Management LLC raised its stake in shares of CoStar Group by 42.9% during the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock worth $37,720,000 after buying an additional 150,000 shares during the last quarter. Swedbank AB boosted its position in shares of CoStar Group by 469.3% in the 3rd quarter. Swedbank AB now owns 248,043 shares of the technology company’s stock worth $18,712,000 after buying an additional 204,474 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of CoStar Group by 16.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock worth $7,812,000 after buying an additional 14,468 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

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.