CoStar Group, Inc. $CSGP Shares Bought by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC increased its holdings in CoStar Group by 39.2%, now owning a total of 129,182 shares valued at approximately $10.2 million.
• Multiple hedge funds made new investments in CoStar Group during the first quarter, with institutional investors owning 96.60% of the company's stock.
• CoStar Group's recent earnings report showed a year-over-year revenue increase of 15.2%, with earnings per share surpassing analysts' expectations.

Fred Alger Management LLC boosted its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 39.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,182 shares of the technology company's stock after acquiring an additional 36,395 shares during the period. Fred Alger Management LLC's holdings in CoStar Group were worth $10,235,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CSGP. Mizuho Markets Americas LLC purchased a new stake in CoStar Group during the first quarter valued at approximately $586,403,000. Vanguard Group Inc. lifted its position in CoStar Group by 4.1% during the first quarter. Vanguard Group Inc. now owns 68,426,711 shares of the technology company's stock valued at $5,421,448,000 after acquiring an additional 2,709,320 shares during the last quarter. Third Point LLC purchased a new stake in CoStar Group during the first quarter valued at approximately $156,479,000. Nuveen LLC purchased a new stake in CoStar Group during the first quarter valued at approximately $82,756,000. Finally, Royal Bank of Canada lifted its position in CoStar Group by 87.4% during the fourth quarter. Royal Bank of Canada now owns 1,452,442 shares of the technology company's stock valued at $103,981,000 after acquiring an additional 677,222 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CSGP. BMO Capital Markets increased their target price on shares of CoStar Group from $82.00 to $89.00 and gave the company a "market perform" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada increased their target price on shares of CoStar Group from $83.00 to $91.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. raised their price target on shares of CoStar Group from $87.00 to $101.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. William Blair reaffirmed an "outperform" rating on shares of CoStar Group in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and issued a $70.00 price target (up previously from $65.00) on shares of CoStar Group in a report on Wednesday, July 16th. One equities research 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 given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.15.

Insiders Place Their Bets

In other news, insider Frederick G. Saint sold 25,000 shares of the stock in a transaction on 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 sale, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the stock in a transaction on 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 sale, the chief accounting officer owned 25,771 shares in the company, valued at $2,392,837.35. The trade was a 7.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,033 shares of company stock worth $4,777,764 in the last quarter. Company insiders own 1.09% of the company's stock.

CoStar Group Stock Performance

Shares of NASDAQ CSGP traded down $0.26 during midday trading on Friday, reaching $86.80. The company had a trading volume of 1,261,360 shares, compared to its average volume of 2,126,747. The stock has a market cap of $36.77 billion, a P/E ratio of 347.20, a P/E/G ratio of 4.00 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 business's 50-day simple moving average is $89.34 and its 200 day simple moving average is $82.04. 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 (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. The firm had revenue of $781.30 million for the quarter, compared to analyst estimates of $772.06 million. CoStar Group had a net margin of 3.57% and a return on equity of 2.88%. The business's quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 earnings per share. 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, analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

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.