Gateway Investment Advisers LLC Has $3.24 Million Stock Position in CoStar Group, Inc. $CSGP

Key Points

• Gateway Investment Advisers LLC raised its stake in CoStar Group, Inc. by 32.9% during the second quarter, acquiring an additional 9,962 shares, bringing its total holdings to 40,273 shares.
• Insiders at CoStar Group sold a total of 52,033 shares valued at approximately $4.78 million in the last quarter, indicating a decrease in their ownership percentages.
• CoStar Group reported a net margin of 3.57% in its latest quarterly earnings, with revenue up 15.2% year-over-year, exceeding analysts' estimates.

Gateway Investment Advisers LLC grew its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 32.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,273 shares of the technology company's stock after acquiring an additional 9,962 shares during the quarter. Gateway Investment Advisers LLC's holdings in CoStar Group were worth $3,238,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CSGP. Farther Finance Advisors LLC raised its stake in shares of CoStar Group by 42.4% during the 1st quarter. Farther Finance Advisors LLC now owns 1,210 shares of the technology company's stock worth $96,000 after buying an additional 360 shares during the period. Kingswood Wealth Advisors LLC acquired a new stake in CoStar Group during the 1st quarter valued at $221,000. PFG Investments LLC acquired a new position in CoStar Group in the first quarter worth $234,000. Golden State Wealth Management LLC grew its stake in shares of CoStar Group by 6.3% in the first quarter. Golden State Wealth Management LLC now owns 3,385 shares of the technology company's stock worth $268,000 after purchasing an additional 200 shares in the last quarter. Finally, Red Spruce Capital LLC boosted its stake in shares of CoStar Group by 37.7% during the 2nd quarter. Red Spruce Capital LLC now owns 21,842 shares of the technology company's stock worth $1,756,000 after acquiring an additional 5,975 shares in the last quarter. Institutional investors own 96.60% of the company's stock.

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 that occurred on Monday, July 28th. The shares were sold at an average price of $92.85, for a total transaction of $188,764.05. Following the transaction, the chief accounting officer directly owned 25,771 shares in the company, valued at approximately $2,392,837.35. This trade represents a 7.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Frederick G. Saint sold 25,000 shares of the company's stock in a transaction on 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 completion of the sale, the insider owned 319,539 shares in the company, valued at $29,790,620.97. This represents a 7.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,033 shares of company stock worth $4,777,764. 1.09% of the stock is owned by company insiders.

CoStar Group Trading Down 2.4%

Shares of CoStar Group stock traded down $2.16 on Friday, hitting $87.10. The stock had a trading volume of 5,822,564 shares, compared to its average volume of 2,133,424. The stock has a 50 day moving average of $89.76 and a 200 day moving average of $82.42. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $97.43. The firm has a market capitalization of $36.90 billion, a P/E ratio of 348.40, a PEG ratio of 4.01 and a beta of 0.87. 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 posted its 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. The business had revenue of $781.30 million for the quarter, compared to analysts' expectations of $772.06 million. CoStar Group had a net margin of 3.57% and a return on equity of 2.88%. The business's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the prior year, the company posted $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. Sell-side analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CSGP. Needham & Company LLC increased their target price on shares of CoStar Group from $98.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price objective 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. Wolfe Research assumed coverage on CoStar Group in a report on Wednesday, September 3rd. They set an "outperform" rating and a $105.00 price objective on the stock. BMO Capital Markets increased their price objective 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. Finally, William Blair restated an "outperform" rating on shares of CoStar Group in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, CoStar Group currently has an average rating of "Moderate Buy" and a consensus price target of $94.15.

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.