Zacks Investment Research downgraded shares of CoStar Group, Inc. (NASDAQ:CSGP) from a hold rating to a sell rating in a research report report published on Wednesday.

According to Zacks, “CoStar Group, Inc. provides information services to the commercial real estate industry. Their wide array of digital service offerings includes a leasing marketplace, a selling marketplace, sales comparable information, decision support, contact management, tenant information, property marketing, and industry news. They have three assets that provide a unique foundation for this marketplace: comprehensive national databases; large research department; and large number of participating organizations. “

CSGP has been the subject of a number of other research reports. BidaskClub upgraded CoStar Group from a buy rating to a strong-buy rating in a research report on Saturday, August 12th. Needham & Company LLC boosted their target price on CoStar Group from $300.00 to $325.00 and gave the stock a buy rating in a research report on Thursday, August 17th. Stephens restated an overweight rating and set a $275.00 target price (up previously from $260.00) on shares of CoStar Group in a research report on Monday, June 19th. SunTrust Banks, Inc. restated a buy rating and set a $310.00 target price on shares of CoStar Group in a research report on Wednesday, September 13th. Finally, Citigroup Inc. set a $320.00 target price on CoStar Group and gave the stock a buy rating in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $312.57.

CoStar Group (CSGP) traded up 0.81% on Wednesday, reaching $273.98. The company had a trading volume of 143,676 shares. CoStar Group has a 12 month low of $179.22 and a 12 month high of $287.96. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of 91.97 and a beta of 1.51. The company’s 50 day moving average price is $278.82 and its 200-day moving average price is $256.78.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Wednesday, July 26th. The technology company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.23. The company had revenue of $237.20 million during the quarter, compared to the consensus estimate of $234.38 million. CoStar Group had a return on equity of 7.19% and a net margin of 10.85%. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 earnings per share. On average, equities analysts predict that CoStar Group will post $4.44 earnings per share for the current fiscal year.

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In related news, VP Matthew Linnington sold 1,767 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $273.15, for a total value of $482,656.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.98% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSGP. Toronto Dominion Bank increased its holdings in CoStar Group by 12.3% in the second quarter. Toronto Dominion Bank now owns 401 shares of the technology company’s stock valued at $106,000 after purchasing an additional 44 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in CoStar Group in the second quarter valued at about $134,000. LS Investment Advisors LLC increased its holdings in CoStar Group by 3.5% in the second quarter. LS Investment Advisors LLC now owns 706 shares of the technology company’s stock valued at $186,000 after purchasing an additional 24 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in CoStar Group in the second quarter valued at about $188,000. Finally, Capstone Asset Management Co. bought a new stake in CoStar Group in the second quarter valued at about $211,000. Institutional investors and hedge funds own 99.84% of the company’s stock.

CoStar Group Company Profile

CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.

Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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