Raymond James Financial Inc. Acquires 44,465 Shares of CoStar Group, Inc. $CSGP

Key Points

• Raymond James Financial Inc. increased its holdings in CoStar Group, Inc. by 6.9%, now owning approximately 0.16% of the company valued at $54.4 million.
• Multiple analysts have raised their price targets for CoStar Group shares, with the average target now sitting at $93.25 and a consensus rating of "Moderate Buy".
• Insider transactions include a sale by CAO Cynthia Cammett Cann of 2,033 shares and Frederick G. Saint selling 25,000 shares, both resulting in significant decreases in their ownership positions.

Raymond James Financial Inc. lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 6.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 686,911 shares of the technology company's stock after acquiring an additional 44,465 shares during the period. Raymond James Financial Inc. owned approximately 0.16% of CoStar Group worth $54,424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bayforest Capital Ltd purchased a new stake in CoStar Group during the first quarter valued at about $29,000. Wayfinding Financial LLC bought a new position in shares of CoStar Group during the 1st quarter valued at about $29,000. GKV Capital Management Co. Inc. purchased a new position in shares of CoStar Group during the 1st quarter valued at about $31,000. Zions Bancorporation National Association UT bought a new stake in CoStar Group in the 1st quarter worth approximately $31,000. Finally, Cullen Frost Bankers Inc. boosted its stake 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 buying an additional 235 shares in the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Trading Up 3.2%

Shares of NASDAQ:CSGP traded up $2.86 during midday trading on Friday, hitting $91.22. 2,875,172 shares of the stock traded hands, compared to its average volume of 3,010,331. The company has a quick ratio of 5.83, a current ratio of 5.83 and a debt-to-equity ratio of 0.12. The business's 50 day moving average is $87.01 and its two-hundred day moving average is $80.71. The stock has a market capitalization of $38.65 billion, a PE ratio of 364.88, a P/E/G ratio of 4.44 and a beta of 0.85. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $97.43.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. The company had revenue of $781.30 million for the quarter, compared to the consensus estimate of $772.06 million. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%.CoStar Group's revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 EPS. 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 forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

Insider Buying and Selling

In other CoStar Group news, insider Frederick G. Saint sold 25,000 shares of the company's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $93.23, for a total value of $2,330,750.00. Following the completion of the transaction, the insider directly owned 319,539 shares in the company, valued at approximately $29,790,620.97. This represents a 7.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $188,764.05. Following the sale, the chief accounting officer directly owned 25,771 shares in the company, 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. 1.09% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on CSGP. JMP Securities reissued a "market outperform" rating and set a $85.00 price target on shares of CoStar Group in a research note on Wednesday, April 30th. Robert W. Baird lifted their target price on shares of CoStar Group from $100.00 to $105.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company reissued an "underweight" rating and issued a $70.00 price target (up from $65.00) on shares of CoStar Group in a research note 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. Finally, Keefe, Bruyette & Woods lifted their price objective on CoStar Group from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. One equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $93.25.

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.