Ironvine Capital Partners LLC Sells 8,753 Shares of CoStar Group, Inc. $CSGP

Key Points

• Ironvine Capital Partners LLC decreased their stake in CoStar Group by 1.9%, holding 457,958 shares valued at approximately $36.3 million.
• CoStar Group's stock has seen significant institutional interest, with notable increases in holdings from several hedge funds, including Kensico Capital Management, which raised its stake by 86%.
• The company reported an EPS of $0.17 for the latest quarter, surpassing estimates, and the stock is currently rated as a "Moderate Buy" with a consensus price target of $94.15.

Ironvine Capital Partners LLC reduced its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 1.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 457,958 shares of the technology company's stock after selling 8,753 shares during the period. CoStar Group comprises approximately 3.9% of Ironvine Capital Partners LLC's investment portfolio, making the stock its 13th largest position. Ironvine Capital Partners LLC owned 0.11% of CoStar Group worth $36,284,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CSGP. Wayfinding Financial LLC acquired a new stake in shares of CoStar Group in the 1st quarter valued at approximately $29,000. Bayforest Capital Ltd acquired a new stake in shares of CoStar Group in the 1st quarter valued at approximately $29,000. GKV Capital Management Co. Inc. acquired a new stake in shares of CoStar Group in the 1st quarter valued at approximately $31,000. Zions Bancorporation National Association UT acquired a new stake in shares of CoStar Group in the 1st quarter valued at approximately $31,000. Finally, Cullen Frost Bankers Inc. boosted its stake in shares of 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.

CoStar Group Stock Up 0.1%

NASDAQ CSGP traded up $0.08 during mid-day trading on Tuesday, hitting $88.14. The company's stock had a trading volume of 2,622,606 shares, compared to its average volume of 3,117,409. The company's 50 day simple moving average is $88.93 and its 200 day simple moving average is $81.75. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $97.43. The company has a current ratio of 5.83, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $37.34 billion, a price-to-earnings ratio of 352.56, a PEG ratio of 4.12 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $772.06 million. During the same quarter last year, the firm posted $0.15 EPS. CoStar Group's revenue 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. Analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CSGP has been the subject of a number of research reports. Stephens upgraded shares of CoStar Group to a "strong-buy" rating and set a $105.00 price objective for the company in a report on Monday, June 16th. Royal Bank Of Canada raised their price objective on shares of CoStar Group from $83.00 to $91.00 and gave the company a "sector perform" rating in a report on Wednesday, July 23rd. Citigroup raised their price objective on shares of CoStar Group from $91.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, July 24th. BMO Capital Markets raised their price objective on shares of CoStar Group from $82.00 to $89.00 and gave the company a "market perform" rating in a report on Wednesday, July 23rd. Finally, Bank of America initiated coverage on shares of CoStar Group in a report on Friday, May 30th. They issued a "neutral" rating and a $79.00 price objective for the company. One 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 assigned a Sell rating to the stock. According to data from MarketBeat, CoStar Group has an average rating of "Moderate Buy" and a consensus price target of $94.15.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 2,033 shares of CoStar Group 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frederick G. Saint sold 25,000 shares of CoStar Group stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $90.33, for a total transaction of $2,258,250.00. Following the transaction, the insider directly owned 293,103 shares in the company, valued at $26,475,993.99. This represents a 7.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 52,033 shares of company stock valued at $4,777,764. 1.09% of the stock is currently owned by insiders.

CoStar Group Company 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.