CoStar Group, Inc. $CSGP is Bares Capital Management Inc.'s 5th Largest Position

Key Points

• Bares Capital Management Inc. increased its stake in CoStar Group, Inc. by 74.5%, owning over 1.1 million shares, making it the firm's 5th largest position.
• CoStar Group's recent quarterly earnings exceeded analysts' expectations, reporting $0.17 earnings per share and $781.30 million in revenue, marking a 15.2% increase year-over-year.
• Wall Street analysts have a consensus rating of "Moderate Buy" for CoStar Group, with an average price target of $93.25, indicating positive outlook for the stock.

Bares Capital Management Inc. boosted its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 74.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,133,002 shares of the technology company's stock after purchasing an additional 483,797 shares during the quarter. CoStar Group makes up 9.7% of Bares Capital Management Inc.'s holdings, making the stock its 5th largest position. Bares Capital Management Inc. owned about 0.27% of CoStar Group worth $89,768,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position 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 purchasing an additional 2,709,320 shares in the last quarter. Baillie Gifford & Co. boosted its position 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 purchasing an additional 524,601 shares in the last quarter. Mizuho Markets Americas LLC purchased a new position in CoStar Group during the first quarter worth approximately $586,403,000. Polen Capital Management LLC boosted its position 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 purchasing an additional 104,612 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of CoStar Group by 1.7% in the first quarter. Invesco Ltd. now owns 4,305,556 shares of the technology company's stock valued at $341,129,000 after acquiring an additional 70,561 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

Insider Buying and Selling at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 2,033 shares of CoStar Group stock in a transaction 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 sale, the chief accounting officer directly owned 25,771 shares of the company's stock, valued at approximately $2,392,837.35. The trade was a 7.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Frederick G. Saint sold 25,000 shares of CoStar Group stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $90.33, for a total value of $2,258,250.00. Following the completion of the sale, the insider directly owned 293,103 shares of the company's stock, valued at $26,475,993.99. The trade was a 7.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,033 shares of company stock valued at $4,777,764. 1.09% of the stock is owned by insiders.

CoStar Group Trading Up 0.4%

CoStar Group stock traded up $0.36 during trading on Friday, reaching $89.46. 1,666,535 shares of the company were exchanged, compared to its average volume of 2,477,359. The stock's 50 day simple moving average is $88.77 and its two-hundred day simple moving average is $81.63. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.83 and a quick ratio of 5.83. The company has a market capitalization of $37.90 billion, a P/E ratio of 357.84, a PEG ratio of 4.61 and a beta of 0.87. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $97.43.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CSGP shares. Wells Fargo & Company restated an "underweight" rating and issued a $70.00 target price (up previously from $65.00) on shares of CoStar Group in a research report on Wednesday, July 16th. Citigroup raised their target price on CoStar Group from $91.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Bank of America started coverage on CoStar Group in a research report on Friday, May 30th. They issued a "neutral" rating and a $79.00 target price on the stock. Needham & Company LLC raised their target price on CoStar Group from $98.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada raised their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $94.15.

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.