Douglas Lane & Associates LLC Has $46.98 Million Stock Position in CoStar Group, Inc. $CSGP

Key Points

• Douglas Lane & Associates LLC increased its stake in CoStar Group, Inc. by 5.0%, holding approximately $46.98 million worth of shares at the end of the most recent quarter.
• Wall Street analysts have a positive outlook on CoStar Group, with the stock earning multiple "buy" and "outperform" ratings and a consensus price target of $94.15.
• CoStar Group reported a net margin of 3.57% for its latest quarter, showcasing a year-over-year revenue increase of 15.2% and exceeding analysts' earnings estimates.

Douglas Lane & Associates LLC lifted its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 5.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 584,311 shares of the technology company's stock after acquiring an additional 27,560 shares during the period. Douglas Lane & Associates LLC owned about 0.14% of CoStar Group worth $46,979,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CSGP. Wayfinding Financial LLC acquired a new stake in CoStar Group in the first quarter worth $29,000. Bayforest Capital Ltd acquired a new stake in CoStar Group in the first quarter worth $29,000. Zions Bancorporation National Association UT acquired a new stake in CoStar Group in the first quarter worth $31,000. GKV Capital Management Co. Inc. acquired a new stake in CoStar Group in the first quarter worth $31,000. Finally, Cullen Frost Bankers Inc. increased its position in CoStar Group by 137.4% in the first quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock worth $32,000 after buying an additional 235 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Cynthia Cammett Cann sold 2,033 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $92.85, for a total transaction of $188,764.05. Following the completion of the transaction, the chief accounting officer owned 25,771 shares of the company's stock, valued at $2,392,837.35. This trade represents a 7.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Frederick G. Saint sold 25,000 shares of the firm's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $93.23, for a total value of $2,330,750.00. Following the transaction, the insider directly owned 319,539 shares of the company's stock, valued at $29,790,620.97. This represents a 7.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,033 shares of company stock valued at $4,777,764 in the last ninety days. Company insiders own 1.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CSGP. BMO Capital Markets increased their target price on CoStar Group from $82.00 to $89.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 23rd. Wolfe Research began coverage on CoStar Group in a research report on Wednesday, September 3rd. They issued an "outperform" rating and a $105.00 target price on the stock. Needham & Company LLC increased their target price on CoStar Group from $98.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada increased their target price on CoStar Group from $83.00 to $91.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Finally, Citigroup increased their price target on CoStar Group from $91.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $94.15.

CoStar Group Stock Performance

Shares of NASDAQ:CSGP traded down $0.84 on Tuesday, hitting $88.13. The company's stock had a trading volume of 2,116,032 shares, compared to its average volume of 2,138,171. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $97.43. The company has a market capitalization of $37.34 billion, a price-to-earnings ratio of 352.52, a price-to-earnings-growth ratio of 4.10 and a beta of 0.87. The stock's 50-day moving average is $89.60 and its two-hundred day moving average is $82.18. 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 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 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 analysts' expectations of $772.06 million. During the same quarter in the prior year, the business posted $0.15 earnings per share. The company's revenue for the quarter 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. On average, equities research analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current year.

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.