Allstate Corp Boosts Position in CoStar Group, Inc. $CSGP

Key Points

• Allstate Corp increased its stake in CoStar Group, Inc. by 44.8% in the first quarter, owning 17,582 shares valued at approximately $1.39 million.
• CoStar Group reported earnings of $0.17 per share for the last quarter, surpassing expectations, with revenue increasing by 15.2% year-over-year.
• Analysts are optimistic, with several raising target prices, including a high of $105.00, indicating a consensus rating of "Moderate Buy" for the stock.

Allstate Corp increased its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 44.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,582 shares of the technology company's stock after purchasing an additional 5,440 shares during the period. Allstate Corp's holdings in CoStar Group were worth $1,393,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CSGP. Bayforest Capital Ltd bought a new position in CoStar Group during the 1st quarter valued at $29,000. Wayfinding Financial LLC bought a new position in CoStar Group during the 1st quarter valued at $29,000. GKV Capital Management Co. Inc. bought a new position in CoStar Group during the 1st quarter valued at $31,000. Zions Bancorporation National Association UT bought a new position in CoStar Group during the 1st quarter valued at $31,000. Finally, Cullen Frost Bankers Inc. lifted its stake in CoStar Group by 137.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock valued at $32,000 after acquiring an additional 235 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Stock Performance

CSGP traded down $1.14 during trading hours on Tuesday, hitting $89.37. The stock had a trading volume of 2,247,218 shares, compared to its average volume of 2,963,750. The company's fifty day simple moving average is $87.37 and its 200 day simple moving average is $80.88. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $97.43. The stock has a market cap of $37.86 billion, a PE ratio of 357.48, a price-to-earnings-growth ratio of 4.41 and a beta of 0.85. The company has a quick ratio of 5.83, a current ratio of 5.83 and a debt-to-equity ratio of 0.12.

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, topping 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 company had revenue of $781.30 million during the quarter, compared to analyst estimates of $772.06 million. During the same quarter last year, the firm posted $0.15 EPS. The firm's revenue for the quarter 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. Equities analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on CSGP shares. JMP Securities restated a "market outperform" rating and set a $85.00 price objective on shares of CoStar Group in a research note on Wednesday, April 30th. Needham & Company LLC raised their price objective on CoStar Group from $98.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. raised their price objective on CoStar Group from $87.00 to $101.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Citigroup raised their price objective on CoStar Group from $91.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Robert W. Baird raised their price objective on CoStar Group from $100.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $93.25.

Insider Activity

In other CoStar Group news, insider Frederick G. Saint sold 25,000 shares of CoStar Group stock in a transaction dated Monday, July 28th. The stock was 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 owned 319,539 shares of the company's stock, valued at $29,790,620.97. The trade was a 7.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Cynthia Cammett Cann sold 2,033 shares of CoStar Group stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $92.85, for a total value of $188,764.05. Following the transaction, the chief accounting officer directly owned 25,771 shares of the company's stock, valued at $2,392,837.35. The trade was a 7.31% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.09% of the company's stock.

CoStar Group Company 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.