BI Asset Management Fondsmaeglerselskab A S Sells 5,801 Shares of CoStar Group, Inc. $CSGP

Key Points

• BI Asset Management Fondsmaeglerselskab A S has reduced its stake in CoStar Group, Inc. by 30.7%, now holding 13,070 shares valued at approximately $1.04 million.
• Institutional ownership of CoStar Group stands at 96.60%, with significant increases in shares from companies like Vanguard Group and Baillie Gifford & Co.
• CoStar Group's latest earnings report shows a quarterly revenue of $781.30 million, beating estimates and marking a 15.2% increase from the previous year.

BI Asset Management Fondsmaeglerselskab A S lowered its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 30.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,070 shares of the technology company's stock after selling 5,801 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in CoStar Group were worth $1,036,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of CoStar Group by 4.1% in the first quarter. Vanguard Group Inc. now owns 68,426,711 shares of the technology company's stock valued at $5,421,448,000 after buying an additional 2,709,320 shares in the last quarter. Bamco Inc. NY grew its holdings in shares of CoStar Group by 2.2% during the fourth quarter. Bamco Inc. NY now owns 19,203,564 shares of the technology company's stock valued at $1,374,783,000 after buying an additional 418,128 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of CoStar Group by 6.6% during the first quarter. Baillie Gifford & Co. now owns 8,436,199 shares of the technology company's stock valued at $668,400,000 after buying an additional 524,601 shares during the last quarter. Mizuho Markets Americas LLC acquired a new position in CoStar Group during the 1st quarter valued at about $586,403,000. Finally, Polen Capital Management LLC boosted its stake in CoStar Group by 1.6% during the 1st quarter. Polen Capital Management LLC now owns 6,601,800 shares of the technology company's stock valued at $523,061,000 after purchasing an additional 104,612 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

Insider Transactions at CoStar Group

In related news, insider Frederick G. Saint sold 25,000 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $93.23, for a total value of $2,330,750.00. Following the sale, the insider directly owned 319,539 shares in the company, valued at approximately $29,790,620.97. The trade was a 7.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the business's 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 completion of the sale, the chief accounting officer owned 25,771 shares in the company, 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 own 1.09% of the company's stock.

Wall Street Analysts Forecast Growth

CSGP has been the subject of several analyst reports. BMO Capital Markets increased their price objective on CoStar Group from $82.00 to $89.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company reiterated an "underweight" rating and set a $70.00 price target (up previously from $65.00) on shares of CoStar Group in a report on Wednesday, July 16th. 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. Royal Bank Of Canada lifted their price objective on shares of CoStar Group from $83.00 to $91.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 23rd. Finally, Needham & Company LLC increased their target price on shares of CoStar Group from $98.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have issued a Hold rating and one has given 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 $93.25.

CoStar Group Stock Performance

Shares of NASDAQ:CSGP traded up $0.03 during mid-day trading on Wednesday, reaching $89.40. The company had a trading volume of 1,081,079 shares, compared to its average volume of 3,161,397. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $97.43. The company has a current ratio of 5.83, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12. The company's 50-day moving average price is $87.37 and its 200-day moving average price is $80.88. The firm has a market cap of $37.87 billion, a price-to-earnings ratio of 358.12, a PEG ratio of 4.41 and a beta of 0.85.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%.The business had revenue of $781.30 million during the quarter, compared to the consensus estimate of $772.06 million. During the same period last year, the business posted $0.15 earnings per share. The business'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. As a group, equities research analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal 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.