The President & CEO of CoStar Group (CSGP) is Buying Shares

Today, the President & CEO of CoStar Group (CSGP), Andrew Florance, bought shares of CSGP for $5.65M.

Following Andrew Florance’s last CSGP Buy transaction on April 30, 2018, the stock climbed by 99.4%. Following this transaction Andrew Florance’s holding in the company was increased by 42.77% to a total of $60.28 million.

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Based on CoStar Group’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $316 million and quarterly net profit of $83.51 million. In comparison, last year the company earned revenue of $254 million and had a net profit of $44.2 million. CSGP’s market cap is $17.37B and the company has a P/E ratio of 71.26. Currently, CoStar Group has an average volume of 343K.

Starting in November 2018, CSGP received 7 Buy ratings in a row. Five different firms, including B.Riley FBR and Citigroup, currently also have a Buy rating on the stock. Based on 5 analyst ratings, the analyst consensus is Strong Buy with an average price target of $468.25, reflecting a 0.5% upside.

In the last 30 days, insiders have sold $33.44M worth of CSGP shares and purchased $5.75M worth of CSGP shares. The insider sentiment on CoStar Group has been negative according to 47 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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CoStar Group, Inc. engages in the provision of information, analytics, and marketing services to the commercial real estate industry. Its integrated suite of online service offerings includes information about space available for lease, comparable sales information, tenant information, information about properties for sale, internet marketing services, analytical capabilities, information for client’s websites, information about industry professionals and their business relationships, data integration, and industry news. It operates through the North America and International segments. The North America segment comprises of U.S. and Canada. The International segment includes of the United Kingdom, Spain, Germany, and France. The company was founded by Andrew C. Florance and Michael R. Klein in 1987 and is headquartered in Washington, DC.

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