RGM Capital LLC Increases Stock Position in CoStar Group, Inc. $CSGP

Key Points

• RGM Capital LLC has increased its stake in CoStar Group, Inc. by 1.0%, now holding approximately 2.23 million shares, which constitutes about 7.3% of its investment portfolio.
• CoStar Group reported $0.17 earnings per share (EPS) for Q2, exceeding analysts' estimates, with revenues of $781.30 million, up 15.2% year-over-year.
• Analysts have recently raised their price targets for CoStar Group, with a consensus target of $93.25, highlighting a mix of ratings from "Strong Buy" to "Hold".

RGM Capital LLC increased its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,227,503 shares of the technology company's stock after buying an additional 21,564 shares during the quarter. CoStar Group accounts for approximately 7.3% of RGM Capital LLC's holdings, making the stock its 4th biggest holding. RGM Capital LLC owned about 0.53% of CoStar Group worth $176,485,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Comerica Bank increased its stake in shares of CoStar Group by 2.9% in the first quarter. Comerica Bank now owns 82,846 shares of the technology company's stock worth $6,564,000 after buying an additional 2,298 shares during the period. MetLife Investment Management LLC increased its stake in shares of CoStar Group by 0.8% in the first quarter. MetLife Investment Management LLC now owns 109,346 shares of the technology company's stock worth $8,663,000 after buying an additional 913 shares during the period. ICONIQ Capital LLC purchased a new position in shares of CoStar Group in the first quarter worth $248,000. APG Asset Management N.V. increased its stake in shares of CoStar Group by 1.6% in the first quarter. APG Asset Management N.V. now owns 220,900 shares of the technology company's stock worth $16,202,000 after buying an additional 3,400 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of CoStar Group by 33.4% in the first quarter. Smartleaf Asset Management LLC now owns 6,903 shares of the technology company's stock worth $548,000 after buying an additional 1,729 shares during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CSGP. Wells Fargo & Company reissued an "underweight" rating and set a $70.00 price objective (up from $65.00) on shares of CoStar Group in a research report on Wednesday, July 16th. 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 report on Thursday, July 17th. Bank of America began coverage on shares of CoStar Group in a research report on Friday, May 30th. They set a "neutral" rating and a $79.00 price objective on the stock. William Blair reissued an "outperform" rating on shares of CoStar Group in a research report on Wednesday, July 23rd. Finally, Needham & Company LLC boosted their price objective on shares of CoStar Group from $98.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $93.25.

Insider Transactions at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 2,033 shares of the company's stock in a transaction dated Monday, July 28th. The shares were 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 $2,392,837.35. The trade was a 7.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Frederick G. Saint sold 25,000 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $93.23, for a total transaction of $2,330,750.00. Following the completion of the transaction, the insider 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 disclosure for this sale can be found here. Insiders own 1.09% of the company's stock.

CoStar Group Stock Down 0.9%

Shares of CSGP stock traded down $0.84 during mid-day trading on Friday, reaching $89.49. 1,974,735 shares of the company's stock traded hands, compared to its average volume of 2,737,199. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $97.43. The company has a market cap of $37.91 billion, a P/E ratio of 357.96, a P/E/G ratio of 4.36 and a beta of 0.85. The company has a quick ratio of 5.83, a current ratio of 5.83 and a debt-to-equity ratio of 0.12. The company's 50-day moving average price is $87.98 and its 200-day moving average price is $81.18.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its 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. CoStar Group had a net margin of 3.57% and a return on equity of 2.88%. The firm 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 business posted $0.15 EPS. The company'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. On average, equities analysts expect that CoStar Group, Inc. will post 0.94 earnings per share 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.