ICONIQ Capital LLC Invests $248,000 in CoStar Group, Inc. $CSGP

Key Points

• ICONIQ Capital LLC invested $248,000 in CoStar Group, acquiring 3,136 shares during Q1, highlighting growing institutional interest in the company.
• CoStar Group's revenue increased by 15.2% year-over-year to $781.3 million, and the firm exceeded analysts' earnings expectations with $0.17 earnings per share.
• Analyst target prices for CoStar Group have been raised, with JPMorgan Chase setting a new target of $101.00, indicating strong investor confidence in the stock's future performance.

ICONIQ Capital LLC purchased a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,136 shares of the technology company's stock, valued at approximately $248,000.

Other hedge funds and other institutional investors have also 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 worth $96,000 after buying an additional 360 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in shares of CoStar Group during the 1st quarter worth approximately $221,000. PFG Investments LLC acquired a new stake in shares of CoStar Group during the 1st quarter worth approximately $234,000. 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 valued at $268,000 after purchasing an additional 200 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in CoStar Group in the first quarter valued at approximately $4,835,000. Institutional investors and hedge funds own 96.60% of the company's stock.

CoStar Group Stock Down 0.8%

CoStar Group stock opened at $90.51 on Tuesday. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $97.43. The stock's fifty day simple moving average is $87.18 and its 200-day simple moving average is $80.82. The company has a current ratio of 5.83, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $38.34 billion, a P/E ratio of 362.04, a P/E/G ratio of 4.44 and a beta of 0.85.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted 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. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%.The business had revenue of $781.30 million for the quarter, compared to analyst estimates of $772.06 million. During the same quarter in the prior year, the company earned $0.15 earnings per share. The company's revenue 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. As a group, equities analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CSGP. JPMorgan Chase & Co. boosted their target price on CoStar Group from $87.00 to $101.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods boosted their target price on CoStar Group from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Robert W. Baird boosted their target price on CoStar Group from $100.00 to $105.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Bank of America began coverage on CoStar Group in a research report on Friday, May 30th. They issued a "neutral" rating and a $79.00 target price on the stock. Finally, Royal Bank Of Canada boosted their target price on CoStar Group from $83.00 to $91.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $93.25.

Insiders Place Their Bets

In related news, CAO Cynthia Cammett Cann sold 2,033 shares of the business's stock in a transaction 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 completion of the transaction, the chief accounting officer owned 25,771 shares in the company, valued at approximately $2,392,837.35. The trade was a 7.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Frederick G. Saint sold 25,000 shares of the business's stock in a transaction on Monday, July 28th. The stock was 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 disclosure for this sale can be found here. Insiders own 1.09% of the company's stock.

About CoStar Group

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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