HB Wealth Management LLC Cuts Stock Holdings in CoStar Group, Inc. $CSGP

Key Points

• HB Wealth Management LLC reduced its holdings in CoStar Group, Inc. by 25.4%, selling 19,449 shares to own a total of 57,237 shares valued at approximately $4.6 million.
• CoStar Group reported $0.17 earnings per share for the most recent quarter, exceeding analysts' expectations of $0.14, with revenues rising 15.2% year-over-year.
• Analysts have given CoStar Group a consensus price target of $94.15, with several upgrades suggesting significant growth potential.

HB Wealth Management LLC trimmed its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 25.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,237 shares of the technology company's stock after selling 19,449 shares during the quarter. HB Wealth Management LLC's holdings in CoStar Group were worth $4,602,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings 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 valued at $96,000 after purchasing an additional 360 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in CoStar Group in the 1st quarter worth $221,000. PFG Investments LLC purchased a new stake in CoStar Group in the 1st quarter worth $234,000. Generate Investment Management Ltd purchased a new stake in CoStar Group in the 2nd quarter worth $6,306,000. Finally, Golden State Wealth Management LLC increased its holdings in CoStar Group by 6.3% in the 1st quarter. Golden State Wealth Management LLC now owns 3,385 shares of the technology company's stock worth $268,000 after acquiring an additional 200 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Price Performance

CoStar Group stock opened at $83.48 on Thursday. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $97.43. The firm has a market capitalization of $35.37 billion, a price-to-earnings ratio of 333.92, a PEG ratio of 3.88 and a beta of 0.87. The company has a fifty day simple moving average of $89.54 and a 200-day simple moving average of $82.75. The company has a quick ratio of 5.83, a current ratio of 5.83 and a debt-to-equity ratio of 0.12.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. The business had revenue of $781.30 million during 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 company's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the firm 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, equities analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CSGP shares. JPMorgan Chase & Co. boosted 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. Needham & Company LLC boosted their price target on shares of CoStar Group from $98.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. William Blair reissued an "outperform" rating on shares of CoStar Group in a report on Wednesday, July 23rd. Stephens raised shares of CoStar Group to a "strong-buy" rating and set a $105.00 price target for the company in a report on Monday, June 16th. Finally, Wells Fargo & Company reissued 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 investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $94.15.

Insider Activity

In other news, insider Frederick G. Saint sold 25,000 shares of the business's 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 transaction, the insider 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the business's stock in a transaction dated 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. The trade was a 7.31% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,033 shares of company stock worth $4,777,764. Corporate insiders own 1.09% of the company's stock.

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.

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