Granahan Investment Management LLC Reduces Holdings in CoStar Group, Inc. $CSGP

Key Points

• Granahan Investment Management LLC reduced its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 2.9%, now holding approximately 347,693 shares, valued at about $27.55 million.
• CoStar Group reported a 15.2% increase in revenue year-over-year, with $781.3 million in quarterly revenue and an earnings per share of $0.17, surpassing analysts' expectations.
• Institutional ownership of CoStar Group is notably high, with hedge funds and other institutional investors holding approximately 96.6% of the company's stock.

Granahan Investment Management LLC lessened its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 347,693 shares of the technology company's stock after selling 10,513 shares during the quarter. CoStar Group makes up 1.4% of Granahan Investment Management LLC's holdings, making the stock its 20th biggest position. Granahan Investment Management LLC owned about 0.08% of CoStar Group worth $27,548,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CSGP. Colonial Trust Co SC grew its position in shares of CoStar Group by 27.4% in the fourth quarter. Colonial Trust Co SC now owns 674 shares of the technology company's stock valued at $48,000 after purchasing an additional 145 shares during the period. Aurora Investment Managers LLC. grew its position in shares of CoStar Group by 0.7% in the first quarter. Aurora Investment Managers LLC. now owns 22,357 shares of the technology company's stock valued at $1,771,000 after purchasing an additional 164 shares during the period. First Horizon Advisors Inc. grew its position in shares of CoStar Group by 5.0% in the first quarter. First Horizon Advisors Inc. now owns 3,746 shares of the technology company's stock valued at $297,000 after purchasing an additional 179 shares during the period. CVA Family Office LLC grew its position in shares of CoStar Group by 28.3% in the first quarter. CVA Family Office LLC now owns 843 shares of the technology company's stock valued at $67,000 after purchasing an additional 186 shares during the period. Finally, Kentucky Retirement Systems grew its position in shares of CoStar Group by 0.7% in the first quarter. Kentucky Retirement Systems now owns 28,348 shares of the technology company's stock valued at $2,246,000 after purchasing an additional 186 shares during the period. Institutional investors and hedge funds own 96.60% of the company's stock.

CoStar Group Stock Up 0.1%

Shares of NASDAQ:CSGP traded up $0.08 during trading on Tuesday, hitting $88.14. 2,622,606 shares of the company were exchanged, compared to its average volume of 3,117,409. The stock has a market capitalization of $37.34 billion, a P/E ratio of 352.56, a PEG ratio of 4.12 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.83 and a quick ratio of 5.83. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $97.43. The firm's 50 day moving average price is $88.93 and its 200-day moving average price is $81.75.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 EPS for the quarter, beating 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 firm had revenue of $781.30 million during the quarter, compared to the consensus estimate of $772.06 million. During the same quarter in the prior year, the firm earned $0.15 EPS. CoStar Group's revenue for the quarter 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. On average, research analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, 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 transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the company's 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 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,033 shares of company stock valued at $4,777,764. 1.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CSGP has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their target price on shares of CoStar Group from $87.00 to $101.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada raised their price target on shares of CoStar Group from $83.00 to $91.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 23rd. Stephens raised shares of CoStar Group to a "strong-buy" rating and set a $105.00 price target on the stock in a research note on Monday, June 16th. Wolfe Research started coverage on shares of CoStar Group in a research note on Wednesday, September 3rd. They issued an "outperform" rating and a $105.00 price target on the stock. Finally, Keefe, Bruyette & Woods raised 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 equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $94.15.

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.