Alliancebernstein L.P. Has $37.83 Million Stake in CoStar Group, Inc. $CSGP

Key Points

• Alliancebernstein L.P. increased its stake in CoStar Group, owning approximately 0.11% of the company, which totals about $37.83 million after buying more shares during the first quarter.
• CoStar Group reported a 15.2% increase in revenue year-over-year, reaching $781.30 million for the quarter and beating earnings expectations with $0.17 EPS.
• Strong interest from institutional investors is evident, as 96.60% of CoStar Group's stock is currently owned by hedge funds, with notable increases in holdings reported by several firms during the fourth quarter.

Alliancebernstein L.P. grew its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 1.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 477,506 shares of the technology company's stock after purchasing an additional 9,105 shares during the period. Alliancebernstein L.P. owned approximately 0.11% of CoStar Group worth $37,833,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of CSGP. Fiduciary Trust Co increased its stake in CoStar Group by 9.8% in the 4th quarter. Fiduciary Trust Co now owns 3,988 shares of the technology company's stock worth $286,000 after purchasing an additional 355 shares in the last quarter. Jefferies Financial Group Inc. lifted its holdings in shares of CoStar Group by 187.2% during the 4th quarter. Jefferies Financial Group Inc. now owns 98,108 shares of the technology company's stock valued at $7,024,000 after buying an additional 63,948 shares during the last quarter. Investment Management Corp of Ontario lifted its holdings in shares of CoStar Group by 86.2% during the 4th quarter. Investment Management Corp of Ontario now owns 25,132 shares of the technology company's stock valued at $1,799,000 after buying an additional 11,638 shares during the last quarter. LRT Capital Management LLC lifted its holdings in shares of CoStar Group by 193.7% during the 4th quarter. LRT Capital Management LLC now owns 11,484 shares of the technology company's stock valued at $822,000 after buying an additional 7,574 shares during the last quarter. Finally, NorthRock Partners LLC acquired a new stake in CoStar Group in the 4th quarter worth approximately $321,000. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Trading Down 0.3%

NASDAQ:CSGP traded down $0.26 during mid-day trading on Friday, hitting $86.80. The company had a trading volume of 1,261,360 shares, compared to its average volume of 2,190,413. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $97.43. The business's fifty day moving average is $89.34 and its two-hundred day moving average is $81.99. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.83 and a current ratio of 5.83. The firm has a market cap of $36.77 billion, a P/E ratio of 347.20, a P/E/G ratio of 4.01 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%.The firm had revenue of $781.30 million for the quarter, compared to analyst estimates of $772.06 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. The company's quarterly revenue was up 15.2% on a year-over-year basis. CoStar Group has set its FY 2025 guidance at 0.780-0.800 EPS. Q3 2025 guidance at 0.150-0.17 EPS. As a group, research analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CSGP shares. Robert W. Baird boosted their target price on CoStar Group from $100.00 to $105.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Citigroup boosted their price objective on CoStar Group from $91.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. BMO Capital Markets boosted their price target on CoStar Group from $82.00 to $89.00 and gave the company a "market perform" rating in a research note on Wednesday, July 23rd. Bank of America initiated coverage on CoStar Group in a research note on Friday, May 30th. They issued a "neutral" rating and a $79.00 price target on the stock. Finally, Needham & Company LLC boosted their price objective on CoStar Group from $98.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, CoStar Group has a consensus rating of "Moderate Buy" and a consensus target price of $94.15.

Insider Activity

In related news, CAO Cynthia Cammett Cann sold 2,033 shares of the stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $92.85, for a total transaction of $188,764.05. Following the completion of the transaction, the chief accounting officer directly owned 25,771 shares in the company, valued at approximately $2,392,837.35. This trade represents a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Frederick G. Saint sold 25,000 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $90.33, for a total value of $2,258,250.00. Following the transaction, the insider owned 293,103 shares of the company's stock, valued at approximately $26,475,993.99. The trade was a 7.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,033 shares of company stock valued at $4,777,764 over the last 90 days. Corporate insiders own 1.09% of the company's stock.

CoStar Group Profile

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.