CoStar Group Inc.’s recently made public that its Chief Technology Officer SIMURO FRANK unloaded Company’s shares for reported $2.47 million on Mar 01. In the deal valued at $70.09 per share,35,220 shares were sold. As a result of this transaction, SIMURO FRANK now holds 337,577 shares worth roughly $ 23.85 million.
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Then, Hill John W sold 3,650 shares, generating $288,058 in total proceeds. Upon selling the shares at $78.92, the Director now owns 20,734 shares.
Before that, DESMARAIS MICHAEL J sold 1,296 shares. CoStar Group Inc. shares valued at $107,322 were divested by the Chief Human Resources Officer at a price of $82.81 per share. As a result of the transaction, DESMARAIS MICHAEL J now holds 36,900 shares, worth roughly $2.61 million.
JP Morgan initiated its CoStar Group Inc. [CSGP] rating to an Overweight in a research note published on Tuesday, December 16, 2022; the price target was $100. PT values the company’s stock at a premium of 29.36 to its Tuesday closing price. BMO Capital Markets started covering the stock on September 12, 2022. It rated CSGP as “a Market perform”.
Price Performance Review of CSGP
On Tuesday, CoStar Group Inc. [NASDAQ:CSGP] saw its stock fall -1.71% to $70.64. On the same session, the stock had its day’s lowest price of $70.41, but rose to a high of $72.385. Over the last five days, the stock has lost -0.03%. CoStar Group Inc. shares have fallen nearly -8.59% since the year began. Nevertheless, the stocks have risen 21.96% over the past one year. While a 52-week high of $85.37 was reached on 01/17/23, a 52-week low of $53.25 was recorded on 02/24/23. SMA at 50 days reached $76.40, while 200 days put it at $72.21. A total of 1.51 million shares were traded, compared to the trading of 2.0 million shares in the previous session.
Levels Of Support And Resistance For CSGP Stock
The 24-hour chart illustrates a support level at 69.90, which if violated will result in even more drops to 69.17. On the upside, there is a resistance level at 71.88. A further resistance level may holdings at 73.12. The Relative Strength Index (RSI) on the 14-day chart is 36.64, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.36, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 89.46%. Stochastics %K at 20.87% indicates the stock is a holding.
How much short interest is there in CoStar Group Inc.?
A steep rise in short interest was recorded in CoStar Group Inc. stocks on Jan 30, 2023, dropping by -0.4 million shares to a total of 5.5 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 5.9 million shares. There was a decline of -7.27%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.37% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.24.
CoStar Group Inc. [CSGP] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 43,108,557 shares, or roughly 10.60% of the outstanding CSGP shares. In other words, the investor’s shares have risen by 1,708,072 from its previous 13-F filing of 41400485.0. Additionally, BlackRock Fund Advisors increased 45.44% of its stake after which the total value it holdings stand at $1,639,815,721, while Principal Global Investors LLC reduced -4.52% of its stake to hold $1.53 billion in the firm. Over the last quarter, BAMCO, Inc. sold -144,677 shares of CoStar Group Inc., while SSgA Funds Management, Inc. sold 481,024 shares. At present, Janus Henderson Investors US LLC is holding 12,940,024 shares valued at $1.01 billion. Baillie Gifford & Co. owned 12,674,531 shares of the company at the time of its most recent 13F filing, worth $987.35 million.
According to FactSet, CoStar Group Inc.’s share price will average $84.31 in the next year, based on opinions of analysts polled by the firm. This is up nearly 18.27 percent from its previous closing price of $71.87. Analysts expect CoStar Group Inc. stock to reach the higher price of $100.00, while the lowest price estimate is $65.00. However, 14 analysts have rated CSGP stock as a Buy in their predictions for 2023. The most recent change occurred on February 23, 2022 when Truist resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $70.