Focus Partners Wealth Purchases 370,652 Shares of CoStar Group, Inc. $CSGP

Key Points

• Focus Partners Wealth increased its stake in CoStar Group by 60.5%, owning nearly 983,793 shares valued at approximately $77.9 million as of the end of the last quarter.
• Brokerages such as JPMorgan Chase and Royal Bank of Canada raised their price targets for CoStar Group, with a consensus rating of "Moderate Buy" and an average price target of $94.15.
• Insider sales included a notable transaction where insider Frederick G. Saint sold 25,000 shares at around $93.23 each, decreasing his ownership by 7.26%.

Focus Partners Wealth boosted its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 60.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 983,793 shares of the technology company's stock after acquiring an additional 370,652 shares during the quarter. Focus Partners Wealth owned 0.23% of CoStar Group worth $77,946,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in CoStar Group by 4.1% during 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 during the last quarter. Baillie Gifford & Co. raised its stake in CoStar Group by 6.6% during 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 during the last quarter. Mizuho Markets Americas LLC purchased a new stake in CoStar Group during the 1st quarter valued at $586,403,000. Polen Capital Management LLC raised its stake in CoStar Group by 1.6% during 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 during the last quarter. Finally, Invesco Ltd. raised its stake in CoStar Group by 1.7% during the 1st quarter. Invesco Ltd. now owns 4,305,556 shares of the technology company's stock valued at $341,129,000 after buying an additional 70,561 shares during the last quarter. 96.60% of the stock is owned by institutional investors.

CoStar Group Trading Up 2.4%

Shares of NASDAQ:CSGP traded up $2.06 during trading on Monday, reaching $88.86. The company's stock had a trading volume of 681,416 shares, compared to its average volume of 3,088,785. The company has a current ratio of 5.83, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $97.43. The firm's 50 day simple moving average is $89.34 and its two-hundred day simple moving average is $82.04. The stock has a market capitalization of $37.64 billion, a PE ratio of 355.54, a price-to-earnings-growth ratio of 4.00 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. CoStar Group had a net margin of 3.57% and a return on equity of 2.88%. The firm 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 earned $0.15 EPS. The firm'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, research analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. William Blair reiterated an "outperform" rating on shares of CoStar Group in a research note on Wednesday, July 23rd. Citigroup upped their price objective on CoStar Group from $91.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Wolfe Research started coverage on CoStar Group in a research note on Wednesday, September 3rd. They issued an "outperform" rating and a $105.00 price objective for the company. Bank of America started coverage on CoStar Group in a research note on Friday, May 30th. They issued a "neutral" rating and a $79.00 price objective for the company. Finally, BMO Capital Markets upped their price objective on CoStar Group from $82.00 to $89.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 23rd. One 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 stock. According to data from MarketBeat, CoStar Group currently has a consensus rating of "Moderate Buy" and an average target price of $94.15.

Insider Transactions at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 2,033 shares of the stock in a transaction dated 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 transaction, the chief accounting officer owned 25,771 shares of the company's stock, valued at approximately $2,392,837.35. This trade represents a 7.31% decrease in their position. The sale 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 stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $93.23, for a total transaction of $2,330,750.00. Following the completion of the transaction, the insider directly owned 319,539 shares of the company's stock, valued at approximately $29,790,620.97. The trade was a 7.26% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,033 shares of company stock valued at $4,777,764. 1.09% of the stock is owned by insiders.

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.