CoStar Group, Inc. $CSGP Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in CoStar Group, Inc. by 17.0%, owning approximately 1,042,830 shares valued at $82.6 million after selling 213,591 shares in the first quarter.
• CoStar Group reported $0.17 earnings per share for the last quarter, exceeding analysts' expectations of $0.14, with a year-over-year revenue increase of 15.2%.
• Analysts generally have a Moderate Buy rating for CoStar Group, with target prices ranging from $70.00 to $105.00 set by various firms.

Price T Rowe Associates Inc. MD lowered its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 17.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,042,830 shares of the technology company's stock after selling 213,591 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.25% of CoStar Group worth $82,624,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSGP. Mizuho Markets Americas LLC purchased a new stake in CoStar Group in the first quarter valued at approximately $586,403,000. Vanguard Group Inc. lifted its stake in 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 during the last quarter. Nuveen LLC purchased a new stake in CoStar Group in the first quarter valued at approximately $82,756,000. Kensico Capital Management Corp purchased a new stake in CoStar Group in the fourth quarter valued at approximately $51,244,000. Finally, Northern Trust Corp lifted its stake in CoStar Group by 21.2% in the fourth quarter. Northern Trust Corp now owns 3,993,324 shares of the technology company's stock valued at $285,882,000 after buying an additional 697,721 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

Insiders Place Their Bets

In related news, CAO Cynthia Cammett Cann sold 2,033 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $92.85, for a total transaction of $188,764.05. Following the transaction, the chief accounting officer owned 25,771 shares of the company's stock, valued at $2,392,837.35. This represents a 7.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Frederick G. Saint sold 25,000 shares of the company's stock in a transaction 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 in the company, valued at $29,790,620.97. This represents a 7.26% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.09% of the company's stock.

Analyst Upgrades and Downgrades

CSGP has been the subject of a number of research reports. Needham & Company LLC boosted their price objective on CoStar Group from $98.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their price objective on shares of CoStar Group from $87.00 to $101.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. BMO Capital Markets boosted their price objective on shares of CoStar Group from $82.00 to $89.00 and gave the company a "market perform" rating in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods boosted their price objective 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 reissued an "outperform" rating on shares of CoStar Group in a research note on Wednesday, July 23rd. One investment 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 assigned a Sell rating to the company. According to data from MarketBeat.com, CoStar Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.25.

CoStar Group Price Performance

CSGP stock traded down $0.84 on Friday, reaching $89.49. 1,974,735 shares of the company's stock were exchanged, compared to its average volume of 2,693,874. The stock has a fifty day moving average of $87.98 and a 200-day moving average of $81.23. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $97.43. The firm has a market cap of $37.91 billion, a PE ratio of 357.96, a P/E/G ratio of 4.36 and a beta of 0.87. The company has a quick ratio of 5.83, a current ratio of 5.83 and a debt-to-equity ratio of 0.12.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.17 earnings per share 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 firm had revenue of $781.30 million for the quarter, compared to analyst estimates of $772.06 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. CoStar Group's quarterly revenue 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 analysts predict 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.