CoStar Group, Inc. $CSGP Shares Acquired by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. has increased its holdings in CoStar Group, Inc. by 52.9%, owning a total of 384,600 shares, valued at approximately $30.5 million.
• Analysts have been optimistic about CoStar Group, with upgrades from multiple firms, resulting in a consensus target price of $94.15 and a majority rating of "Moderate Buy."
• CoStar Group reported a net margin of 3.57% for the last quarter with revenues up 15.2% year-over-year, exceeding analysts' expectations.

Adage Capital Partners GP L.L.C. increased its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 52.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 384,600 shares of the technology company's stock after buying an additional 133,052 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.09% of CoStar Group worth $30,472,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new stake in shares of CoStar Group during the 1st quarter worth about $29,000. Bayforest Capital Ltd acquired a new stake in shares of CoStar Group in the first quarter worth $29,000. GKV Capital Management Co. Inc. purchased a new position in shares of CoStar Group in the 1st quarter valued at $31,000. Zions Bancorporation National Association UT acquired a new position in shares of CoStar Group during the 1st quarter valued at $31,000. Finally, Cullen Frost Bankers Inc. increased its holdings in CoStar Group by 137.4% in the 1st quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock valued at $32,000 after purchasing an additional 235 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSGP has been the topic of a number of recent research reports. Needham & Company LLC boosted their price objective on CoStar Group from $98.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Citigroup increased their price objective on shares of CoStar Group from $91.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. raised their price target on shares of CoStar Group from $87.00 to $101.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Stephens upgraded shares of CoStar Group to a "strong-buy" rating and set a $105.00 price objective on the stock in a report on Monday, June 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 target price for the company. One research 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $94.15.

Insiders Place Their Bets

In other news, insider Frederick G. Saint sold 25,000 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $90.33, for a total value of $2,258,250.00. Following the transaction, the insider directly owned 293,103 shares in the company, valued at approximately $26,475,993.99. This trade represents a 7.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the business's stock in a transaction dated 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 approximately $2,392,837.35. This represents a 7.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,033 shares of company stock worth $4,777,764 over the last three months. 1.09% of the stock is owned by corporate insiders.

CoStar Group Stock Up 0.1%

NASDAQ:CSGP traded up $0.08 during mid-day trading on Tuesday, reaching $88.14. The stock had a trading volume of 2,622,589 shares, compared to its average volume of 3,117,407. The stock's 50 day simple moving average is $88.93 and its two-hundred day simple moving average is $81.75. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $97.43. The company has a market capitalization of $37.34 billion, a price-to-earnings ratio of 352.56, a price-to-earnings-growth ratio of 4.12 and a beta of 0.87. 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 (NASDAQ:CSGP - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The technology company reported $0.17 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $772.06 million. During the same quarter last year, the firm earned $0.15 EPS. The business's 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. Equities analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current 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.