CoStar Group, Inc. $CSGP Shares Bought by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its stake in CoStar Group, Inc. by 6.8% during Q2, owning 152,700 shares valued at approximately $12.3 million.
• CoStar Group's stock fell by 2.0%, and the company has a market cap of $33.47 billion with a recent price-to-earnings ratio of 316.00.
• The company reported Q2 earnings of $0.17 EPS, beating estimates and reflecting a year-over-year revenue increase of 15.2% to $781.30 million.

KLP Kapitalforvaltning AS grew its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 6.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 152,700 shares of the technology company's stock after purchasing an additional 9,700 shares during the period. KLP Kapitalforvaltning AS's holdings in CoStar Group were worth $12,277,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in CoStar Group by 4.1% during the first quarter. Vanguard Group Inc. now owns 68,426,711 shares of the technology company's stock worth $5,421,448,000 after acquiring an additional 2,709,320 shares during the period. Baillie Gifford & Co. grew its holdings in CoStar Group by 6.6% during the first quarter. Baillie Gifford & Co. now owns 8,436,199 shares of the technology company's stock worth $668,400,000 after acquiring an additional 524,601 shares during the period. Mizuho Markets Americas LLC acquired a new position in CoStar Group during the first quarter worth about $586,403,000. Polen Capital Management LLC grew its holdings in CoStar Group by 1.6% during the first quarter. Polen Capital Management LLC now owns 6,601,800 shares of the technology company's stock worth $523,061,000 after acquiring an additional 104,612 shares during the period. Finally, Invesco Ltd. grew its holdings in CoStar Group by 1.7% during the first quarter. Invesco Ltd. now owns 4,305,556 shares of the technology company's stock worth $341,129,000 after acquiring an additional 70,561 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Stock Down 2.0%

Shares of CoStar Group stock opened at $79.00 on Thursday. The firm has a market cap of $33.47 billion, a price-to-earnings ratio of 316.00, a P/E/G ratio of 3.71 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 52-week low of $68.26 and a 52-week high of $97.43. The stock has a 50-day simple moving average of $88.31 and a 200-day simple moving average of $82.85.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued 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. 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 for the quarter, compared to the consensus estimate of $772.06 million. During the same period last year, the business earned $0.15 EPS. The firm's revenue was up 15.2% compared to the same quarter last year. 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 expect that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. BMO Capital Markets lifted their target price on CoStar Group from $82.00 to $89.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. Robert W. Baird lifted 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. Royal Bank Of Canada increased their price target on CoStar Group from $83.00 to $91.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company reiterated an "underweight" rating and issued a $70.00 price target (up previously from $65.00) on shares of CoStar Group in a research report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods increased their price target on CoStar Group from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.15.

Insider Buying and Selling

In related news, insider Frederick G. Saint sold 25,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider directly owned 319,539 shares of the company's stock, valued at approximately $29,790,620.97. This trade represents a 7.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Cynthia Cammett Cann sold 2,033 shares of CoStar Group stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $92.85, for a total value 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 represents a 7.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,033 shares of company stock worth $4,777,764 over the last three months. 1.09% of the stock is owned by company insiders.

About CoStar Group

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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