CoStar Group, Inc. $CSGP Position Decreased by ThornTree Capital Partners LP

Key Points

• ThornTree Capital Partners LP reduced its stake in CoStar Group, Inc. by 15.1%, now holding 393,198 shares valued at approximately $31.15 million.
• CoStar Group's stock opened at $89.46, and the company reported $0.17 EPS for the last quarter, exceeding estimates and showing a 15.2% year-over-year revenue growth.
• Brokerages have increased their price targets for CoStar Group, with JPMorgan Chase raising it from $87 to $101 and Citigroup from $91 to $100, with a consensus rating of "Moderate Buy."

ThornTree Capital Partners LP lessened its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 15.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 393,198 shares of the technology company's stock after selling 70,152 shares during the period. CoStar Group comprises approximately 6.9% of ThornTree Capital Partners LP's investment portfolio, making the stock its 5th biggest holding. ThornTree Capital Partners LP owned approximately 0.09% of CoStar Group worth $31,153,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CSGP. Mizuho Markets Americas LLC bought a new stake in shares of CoStar Group during the first quarter valued at approximately $586,403,000. Vanguard Group Inc. raised its stake in shares of CoStar Group by 4.1% during 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 acquiring an additional 2,709,320 shares in the last quarter. Nuveen LLC bought a new stake in shares of CoStar Group during the first quarter valued at approximately $82,756,000. Kensico Capital Management Corp bought a new stake in shares of CoStar Group during the fourth quarter valued at approximately $51,244,000. Finally, Royal Bank of Canada raised its stake in shares of CoStar Group by 87.4% during 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. Institutional investors own 96.60% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CSGP shares. BMO Capital Markets lifted their price target 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. Royal Bank Of Canada lifted their price target on shares of CoStar Group from $83.00 to $91.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company reissued an "underweight" rating and issued a $70.00 price objective (up previously from $65.00) on shares of CoStar Group in a research note on Wednesday, July 16th. Robert W. Baird boosted their price objective on shares of CoStar Group from $100.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Finally, Wolfe Research initiated 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 for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $94.15.

CoStar Group Stock Up 0.1%

NASDAQ CSGP traded up $0.08 on Tuesday, hitting $88.14. The stock had a trading volume of 2,625,864 shares, compared to its average volume of 2,456,650. The business's fifty day moving average price is $89.05 and its 200 day moving average price is $81.80. 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 market cap of $37.34 billion, a price-to-earnings ratio of 352.56, a price-to-earnings-growth ratio of 4.05 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 (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. CoStar Group had a net margin of 3.57% and a return on equity of 2.88%. The business had revenue of $781.30 million for the quarter, compared to analyst estimates of $772.06 million. During the same period in the previous year, the company earned $0.15 earnings per share. The business's revenue for the quarter 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. Equities research analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

Insider Buying and Selling at CoStar Group

In other news, 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 sale, the chief accounting officer directly owned 25,771 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the insider directly owned 319,539 shares in the company, valued at $29,790,620.97. This trade represents a 7.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,033 shares of company stock worth $4,777,764 over the last ninety days. Corporate insiders own 1.09% of the company's stock.

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.