DAVENPORT & Co LLC Lowers Stock Holdings in CoStar Group, Inc. $CSGP

Key Points

• DAVENPORT & Co LLC reduced its stake in CoStar Group, Inc. by 7.9%, now holding 61,426 shares worth approximately $4.94 million after selling 5,256 shares during the second quarter.
• CoStar Group beat earnings expectations with $0.17 EPS, exceeding the consensus estimate of $0.14, and reported revenue of $781.30 million, up 15.2% year-over-year.
• Insider trading saw Frederick G. Saint sell 25,000 shares for over $2.25 million, reducing his position by 7.86%, while total insider sales in recent months reached nearly $4.78 million.

DAVENPORT & Co LLC lessened its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 7.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,426 shares of the technology company's stock after selling 5,256 shares during the quarter. DAVENPORT & Co LLC's holdings in CoStar Group were worth $4,939,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CSGP. Wayfinding Financial LLC acquired a new position in shares of CoStar Group in the 1st quarter valued at $29,000. Bayforest Capital Ltd acquired a new position in shares of CoStar Group in the 1st quarter valued at $29,000. Zions Bancorporation National Association UT acquired a new position in shares of CoStar Group in the 1st quarter valued at $31,000. GKV Capital Management Co. Inc. acquired a new position in shares of CoStar Group in the 1st quarter valued at $31,000. Finally, Cullen Frost Bankers Inc. boosted its holdings 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 during the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

CoStar Group Price Performance

CSGP opened at $80.60 on Wednesday. The company has a 50-day moving average of $88.66 and a 200-day moving average of $82.88. The company has a market capitalization of $34.15 billion, a P/E ratio of 322.40, a PEG ratio of 3.74 and a beta of 0.87. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $97.43. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.83 and a current ratio of 5.83.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. The company had revenue of $781.30 million during the quarter, compared to the consensus estimate of $772.06 million. CoStar Group had a net margin of 3.57% and a return on equity of 2.88%. The company's revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 EPS. 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 expect that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

Insider Activity

In other news, insider Frederick G. Saint sold 25,000 shares of the business'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 completion of the sale, the insider owned 293,103 shares of the company's stock, valued at approximately $26,475,993.99. The trade was a 7.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 sold a total of 52,033 shares of company stock valued at $4,777,764 in the last three months. Insiders own 1.09% of the company's stock.

Analyst Ratings Changes

CSGP has been the topic of a number of research analyst reports. Stephens upgraded shares of CoStar Group to a "strong-buy" rating and set a $105.00 price target on the stock in a report on Monday, June 16th. Wolfe Research started coverage on shares of CoStar Group in a report on Wednesday, September 3rd. They set an "outperform" rating and a $105.00 target price on the stock. JPMorgan Chase & Co. lifted their target price 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. Weiss Ratings restated a "hold (c-)" rating on shares of CoStar Group in a report on Saturday, September 27th. Finally, Royal Bank Of Canada lifted their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $94.15.

About CoStar Group

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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