Baird Financial Group Inc. Sells 106,953 Shares of CoStar Group, Inc. $CSGP

Key Points

• Baird Financial Group Inc. reduced its holdings in CoStar Group by 10%, owning 962,268 shares worth approximately $76.2 million at the end of the recent quarter.
• CoStar Group reported a quarterly earnings per share of $0.17, exceeding analysts' expectations and reflecting a 15.2% revenue increase compared to the same quarter last year.
• Institutional investors own 96.60% of CoStar Group's stock, highlighting significant institutional interest in the company.

Baird Financial Group Inc. decreased its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 10.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 962,268 shares of the technology company's stock after selling 106,953 shares during the quarter. Baird Financial Group Inc. owned approximately 0.23% of CoStar Group worth $76,240,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mizuho Markets Americas LLC purchased a new position in CoStar Group during the first quarter worth about $586,403,000. Vanguard Group Inc. lifted its position in shares of CoStar Group by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 68,426,711 shares of the technology company's stock worth $5,421,448,000 after buying an additional 2,709,320 shares in the last quarter. Nuveen LLC bought a new position in shares of CoStar Group during the 1st quarter worth approximately $82,756,000. Kensico Capital Management Corp purchased a new position in shares of CoStar Group in the 4th quarter worth approximately $51,244,000. Finally, Royal Bank of Canada grew its holdings in shares of CoStar Group by 87.4% in the fourth quarter. Royal Bank of Canada now owns 1,452,442 shares of the technology company's stock valued at $103,981,000 after acquiring an additional 677,222 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

CoStar Group Price Performance

NASDAQ CSGP traded up $0.76 during trading hours on Thursday, hitting $88.62. The company had a trading volume of 511,144 shares, compared to its average volume of 3,123,525. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.83 and a current ratio of 5.83. The firm has a market capitalization of $37.54 billion, a price-to-earnings ratio of 354.67, a PEG ratio of 4.36 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. The firm has a 50 day simple moving average of $88.45 and a 200 day simple moving average of $81.43.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on CoStar Group from $87.00 to $101.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Citigroup raised their price objective on shares of CoStar Group from $91.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Bank of America initiated coverage on shares of CoStar Group in a research report on Friday, May 30th. They issued a "neutral" rating and a $79.00 price objective on the stock. Keefe, Bruyette & Woods boosted their target price on shares of CoStar Group from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Finally, William Blair restated an "outperform" rating on shares of CoStar Group in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, CoStar Group presently has an average rating of "Moderate Buy" and a consensus price target of $94.15.

Insider Transactions at CoStar Group

In other news, insider Frederick G. Saint sold 25,000 shares of the business's stock in a transaction that occurred 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 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 can be accessed through this hyperlink. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the firm's 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 transaction, the chief accounting officer owned 25,771 shares in the company, valued at approximately $2,392,837.35. The trade was 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 valued at $4,777,764 over the last quarter. Company insiders own 1.09% of the company's stock.

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.