Allspring Global Investments Holdings LLC Sells 149,596 Shares of CoStar Group, Inc. $CSGP

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in CoStar Group by 31.4%, selling 149,596 shares, and now holds approximately 0.08% of the company valued at $26.76 million.
• CoStar Group recently announced earnings of $0.17 per share, beating estimates, with a 15.2% increase in revenue year-over-year.
• Market analysts have mixed ratings on CoStar Group, with one strong buy and an average price target of $94.15 from various analysts.

Allspring Global Investments Holdings LLC decreased its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 31.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 326,649 shares of the technology company's stock after selling 149,596 shares during the period. Allspring Global Investments Holdings LLC owned about 0.08% of CoStar Group worth $26,756,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of CSGP. Wayfinding Financial LLC purchased a new position in CoStar Group in the first quarter worth $29,000. Bayforest Capital Ltd purchased a new position in CoStar Group in the first quarter worth $29,000. GKV Capital Management Co. Inc. purchased a new position in CoStar Group in the first quarter worth $31,000. Zions Bancorporation National Association UT purchased a new position in CoStar Group in the first quarter worth $31,000. Finally, Cullen Frost Bankers Inc. grew its holdings in CoStar Group by 137.4% in the first quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock worth $32,000 after purchasing an additional 235 shares during the last quarter. Institutional investors own 96.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. BTIG Research assumed coverage on shares of CoStar Group in a report on Friday, October 3rd. They issued a "neutral" rating on the stock. BMO Capital Markets lifted their price target on shares of CoStar Group from $82.00 to $89.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of CoStar Group in a report on Wednesday, October 8th. Wolfe Research assumed coverage on shares of CoStar Group in a report on Wednesday, September 3rd. They set an "outperform" rating and a $105.00 price objective on the stock. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $91.00 price objective on shares of CoStar Group in a report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, CoStar Group presently has an average rating of "Moderate Buy" and an average target price of $94.15.

Insiders Place Their Bets

In related news, insider Frederick G. Saint sold 25,000 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $93.23, for a total transaction of $2,330,750.00. Following the completion of the transaction, the insider directly owned 319,539 shares in the company, valued at $29,790,620.97. The trade was a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $92.85, for a total transaction of $188,764.05. Following the transaction, the chief accounting officer owned 25,771 shares of the company's stock, valued at $2,392,837.35. This represents a 7.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,033 shares of company stock valued at $4,777,764 over the last 90 days. 1.09% of the stock is currently owned by insiders.

CoStar Group Price Performance

Shares of CSGP opened at $74.35 on Friday. The firm has a market capitalization of $31.50 billion, a PE ratio of 297.40, a price-to-earnings-growth ratio of 3.46 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.83 and a quick ratio of 5.83. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $97.43. The company's fifty day moving average price is $85.89 and its 200-day moving average price is $82.67.

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

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.

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