CoStar Group, Inc. $CSGP Shares Sold by Riverbridge Partners LLC

Key Points

• Riverbridge Partners LLC has reduced its stake in CoStar Group by 6.0%, owning approximately 1.75 million shares, which constitutes 2.3% of their holdings.
• CoStar Group reported earnings of $0.17 per share, exceeding analysts' expectations and reflecting a 15.2% increase in revenue compared to the previous year.
• Institutional investors currently own 96.60% of CoStar Group's stock, signifying strong institutional interest in the company's shares.

Riverbridge Partners LLC trimmed its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 6.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,754,018 shares of the technology company's stock after selling 112,327 shares during the quarter. CoStar Group accounts for 2.3% of Riverbridge Partners LLC's holdings, making the stock its 8th largest holding. Riverbridge Partners LLC owned about 0.42% of CoStar Group worth $141,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in CoStar Group by 42.4% during the 1st quarter. Farther Finance Advisors LLC now owns 1,210 shares of the technology company's stock worth $96,000 after purchasing an additional 360 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in CoStar Group during the 1st quarter worth $221,000. PFG Investments LLC purchased a new stake in shares of CoStar Group in the 1st quarter valued at about $234,000. Golden State Wealth Management LLC lifted its holdings in shares of CoStar Group by 6.3% in the 1st quarter. Golden State Wealth Management LLC now owns 3,385 shares of the technology company's stock valued at $268,000 after purchasing an additional 200 shares during the last quarter. Finally, Red Spruce Capital LLC lifted its holdings in shares of CoStar Group by 37.7% in the 2nd quarter. Red Spruce Capital LLC now owns 21,842 shares of the technology company's stock valued at $1,756,000 after purchasing an additional 5,975 shares during the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Stock Down 1.5%

NASDAQ:CSGP opened at $84.05 on Thursday. 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 stock has a 50-day simple moving average of $89.78 and a 200 day simple moving average of $82.54. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $97.43. The company has a market capitalization of $35.61 billion, a price-to-earnings ratio of 336.20, a price-to-earnings-growth ratio of 3.93 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings results 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 company had revenue of $781.30 million for the quarter, compared to analysts' expectations of $772.06 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The business's revenue for the quarter 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. Sell-side analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CSGP has been the topic of several recent research reports. Wolfe Research started coverage on shares of CoStar Group in a research note on Wednesday, September 3rd. They issued an "outperform" rating and a $105.00 price objective on the stock. William Blair restated an "outperform" rating on shares of CoStar Group in a report on Wednesday, July 23rd. JPMorgan Chase & Co. upped their price target on CoStar Group from $87.00 to $101.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Wells Fargo & Company reiterated an "underweight" rating and set a $70.00 target price (up previously from $65.00) on shares of CoStar Group in a report on Wednesday, July 16th. Finally, Bank of America began coverage on CoStar Group in a research note on Friday, May 30th. They set a "neutral" rating and a $79.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, CoStar Group presently has an average rating of "Moderate Buy" and a consensus target price of $94.15.

Insider Activity at CoStar Group

In other news, insider Frederick G. Saint sold 25,000 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $93.23, for a total transaction of $2,330,750.00. Following the transaction, the insider directly owned 319,539 shares in the company, valued at $29,790,620.97. The trade was a 7.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the business's stock in a transaction on Monday, July 28th. The shares were 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 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. In the last 90 days, insiders sold 52,033 shares of company stock worth $4,777,764. 1.09% of the stock is currently owned by company insiders.

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.

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