Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. CoStar Group Inc. shares valued at $104,286 were sold by Hill John W on Aug 10. At $74.49 per share, Hill John W sold 1,400 shares. The insider’s holdings dropped to 20,598 shares worth approximately $1.43 million following the completion of this transaction.
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Also, DESMARAIS MICHAEL J sold 2,000 shares, netting a total of over 145,020 in proceeds. Following the sale of shares at $72.51 each, the insider now holds 39,619 shares.
Before that, Hill John W had sold 1,750 shares from its account. In a trade valued at $99,872, the Director traded CoStar Group Inc. shares for $57.07 each. Upon closing the transaction, the insider’s holdings decreased to 1,750 shares, worth approximately $1.53 million.
As published in their initiating research note from BMO Capital Markets on September 12, 2022, CoStar Group Inc. [CSGP] has been a Market perform and the price target has been revised to $83. This represents a 16.08% premium over Wednesday’s closing price. Analysts at Truist resumed the stock at ‘”a Buy”‘ outlook in a report released in late February. As of February 23, 2022, RBC Capital Mkts has reiterated its “an Outperform” rating for CSGP. Earlier on February 23, 2022, Needham resumed its rating. Their recommendation was “a Buy” for CSGP stock.
Analyzing CSGP’s Price Performance
On Wednesday, CoStar Group Inc. [NASDAQ: CSGP] plunged -1.60% to $69.65. The stock’s lowest price that day was $69.65, but it reached a high of $73.00 in the same session. During the last five days, there has been a drop of approximately -5.84%. Over the course of the year, CoStar Group Inc. shares have dropped approximately -11.87%. Shares of the company reached a 52-week high of $79.73 on 01/03/22 and a 52-week low of $49.00 on 02/23/22. A 50-day SMA is recorded $70.43, while a 200-day SMA reached $66.59. Nevertheless, trading volume fell to 1.95 million shares from 2.62 million shares the previous day.
Support And Resistance Levels for CoStar Group Inc. (CSGP)
According to the 24-hour chart, there is a support level at 68.53, which, if violated, would cause prices to drop to 67.42. In the upper region, resistance lies at 71.88. The next price resistance is at 74.12. RSI (Relative Strength Index) is 41.68 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.21, which suggests the price will decrease in the coming days. Percent R is at 81.85%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is CoStar Group Inc. subject to short interest?
Stocks of CoStar Group Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.85 million shares to 3.41 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.26 million shares. A decline of -24.93% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.67 of the overall float, the days-to-cover ratio (short ratio) decline to 1.67.
Which companies own the most shares of CoStar Group Inc. (CSGP)?
According to The Vanguard Group, Inc. filings, the company currently owns 34,408,125 shares, which is about 8.69% of the total CSGP shares outstanding. The investor’s shares have appreciated by 461,875 from its previous 13-F filing of 33946250.0 shares. With the completion of the buy transaction, Principal Global Investors LLC’s stake is now worth $1,404,398,403. BAMCO, Inc. acquire a 2.06% interest valued at $1.34 billion while T. Rowe Price Associates, Inc. sold a -2,338,425 stake. A total of -123,930 shares of CoStar Group Inc. were sold by Janus Henderson Investors US LLC during the quarter, and -547,744 were sold by BlackRock Fund Advisors. In its current portfolio, Baillie Gifford & Co. holds 13,157,872 shares valued at $916.31 million.
In spite of this, 12 analysts ranked CoStar Group Inc. stock as a Buy at the end of 2022. On February 23, 2022, JP Morgan assigned a price target of “an Overweight” to the stock and reiterated coverage with a $97.