Erste Asset Management GmbH Increases Position in CoStar Group, Inc. $CSGP

Key Points

• Erste Asset Management GmbH increased its stake in CoStar Group, Inc. by 25% during the first quarter, owning 200,000 shares valued at approximately $15.8 million.
• Forty-six percent of CoStar Group’s stock is owned by institutional investors, highlighting strong investor interest in the company.
• Analysts have set new price targets for CoStar Group, with JPMorgan Chase raising its target from $87 to $101, indicating positive sentiment around the stock's performance.

Erste Asset Management GmbH raised its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 25.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,000 shares of the technology company's stock after purchasing an additional 40,000 shares during the period. Erste Asset Management GmbH's holdings in CoStar Group were worth $15,846,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of CoStar Group by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 68,426,711 shares of the technology company's stock valued at $5,421,448,000 after buying an additional 2,709,320 shares in the last quarter. Bamco Inc. NY boosted its holdings in shares of CoStar Group by 2.2% in the 4th quarter. Bamco Inc. NY now owns 19,203,564 shares of the technology company's stock valued at $1,374,783,000 after buying an additional 418,128 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of CoStar Group by 6.6% in the 1st quarter. Baillie Gifford & Co. now owns 8,436,199 shares of the technology company's stock valued at $668,400,000 after buying an additional 524,601 shares in the last quarter. Mizuho Markets Americas LLC acquired a new position in shares of CoStar Group in the 1st quarter valued at $586,403,000. Finally, Polen Capital Management LLC boosted its holdings in shares of CoStar Group by 1.6% in the 1st quarter. Polen Capital Management LLC now owns 6,601,800 shares of the technology company's stock valued at $523,061,000 after buying an additional 104,612 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Stock Performance

Shares of CSGP stock traded up $2.86 during mid-day trading on Friday, hitting $91.22. The stock had a trading volume of 2,875,172 shares, compared to its average volume of 2,992,999. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $97.43. The firm has a market cap of $38.65 billion, a PE ratio of 364.88, a PEG ratio of 4.30 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.83 and a quick ratio of 5.83. The company's 50-day simple moving average is $87.01 and its 200-day simple moving average is $80.69.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released 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 net margin of 3.57% and a return on equity of 2.88%. The company had revenue of $781.30 million during the quarter, compared to analysts' expectations of $772.06 million. During the same quarter last year, the business 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. Sell-side analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JMP Securities reiterated a "market outperform" rating and set a $85.00 price target on shares of CoStar Group in a research note on Wednesday, April 30th. William Blair reiterated an "outperform" rating on shares of CoStar Group in a research note on Wednesday, July 23rd. Wells Fargo & Company reiterated an "underweight" rating and set a $70.00 price target (up previously from $65.00) on shares of CoStar Group in a research note on Wednesday, July 16th. Stephens upgraded shares of CoStar Group to a "strong-buy" rating and set a $105.00 price target for the company in a research note on Monday, June 16th. Finally, Keefe, Bruyette & Woods increased their price target on shares of CoStar Group from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $93.25.

Insider Buying and Selling at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 2,033 shares of the firm's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $92.85, for a total value of $188,764.05. Following the completion of the sale, the chief accounting officer owned 25,771 shares in the company, valued at approximately $2,392,837.35. This trade represents a 7.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Frederick G. Saint sold 25,000 shares of the firm's stock in a transaction on 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 sale, the insider owned 319,539 shares of the company's stock, valued at $29,790,620.97. This trade represents a 7.26% decrease in their position. The disclosure for this sale can be found here. 1.09% of the stock is currently owned by company insiders.

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.