IFM Investors Pty Ltd Boosts Stake in CoStar Group, Inc. $CSGP

Key Points

• IFM Investors Pty Ltd raised its stake in CoStar Group by 5.9%, acquiring an additional 4,476 shares worth approximately $6.44 million, bringing its total holdings to 80,152 shares.
• CoStar Group reported a net margin of 3.57% and a revenue of $781.30 million for the last quarter, exceeding analysts' expectations and showing a year-over-year revenue increase of 15.2%.
• Brokerage opinions on CoStar Group are largely positive, with a consensus rating of "Moderate Buy" and a target price averaging $94.15, despite fluctuating ratings from different analysts.

IFM Investors Pty Ltd boosted its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 80,152 shares of the technology company's stock after buying an additional 4,476 shares during the period. IFM Investors Pty Ltd's holdings in CoStar Group were worth $6,444,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Grove Bank & Trust increased its stake in CoStar Group by 8.6% in the second quarter. Grove Bank & Trust now owns 15,350 shares of the technology company's stock valued at $1,234,000 after acquiring an additional 1,211 shares during the last quarter. Three Seasons Wealth LLC raised its holdings in shares of CoStar Group by 4.2% during the 2nd quarter. Three Seasons Wealth LLC now owns 4,405 shares of the technology company's stock valued at $354,000 after buying an additional 179 shares in the last quarter. Exchange Traded Concepts LLC grew its position in CoStar Group by 17.2% during the second quarter. Exchange Traded Concepts LLC now owns 36,899 shares of the technology company's stock valued at $2,967,000 after acquiring an additional 5,417 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of CoStar Group by 11.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 20,180 shares of the technology company's stock worth $1,657,000 after acquiring an additional 2,125 shares during the last quarter. Finally, Pallas Capital Advisors LLC grew its holdings in shares of CoStar Group by 23.9% during the 2nd quarter. Pallas Capital Advisors LLC now owns 4,424 shares of the technology company's stock valued at $356,000 after purchasing an additional 853 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CSGP shares. Bank of America assumed coverage on shares of CoStar Group in a research report on Friday, May 30th. They set a "neutral" rating and a $79.00 price target for the company. JPMorgan Chase & Co. increased their target price on CoStar Group from $87.00 to $101.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Stephens raised CoStar Group to a "strong-buy" rating and set a $105.00 price target on the stock in a research report on Monday, June 16th. William Blair reissued an "outperform" rating on shares of CoStar Group in a research note on Wednesday, July 23rd. Finally, Needham & Company LLC boosted their price objective 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. One investment 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 company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.15.

Insiders Place Their Bets

In related 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 sale, the insider owned 319,539 shares of the company's stock, valued at $29,790,620.97. This represents a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the 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 completion of the transaction, the chief accounting officer directly owned 25,771 shares of the company's stock, 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. Over the last three months, insiders sold 52,033 shares of company stock valued at $4,777,764. 1.09% of the stock is currently owned by insiders.

CoStar Group Price Performance

Shares of CSGP stock traded down $0.79 during mid-day trading on Monday, hitting $86.31. The company had a trading volume of 2,827,921 shares, compared to its average volume of 3,104,594. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.83 and a quick ratio of 5.83. The stock's 50 day moving average price is $89.76 and its 200-day moving average price is $82.46. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $97.43. The company has a market capitalization of $36.57 billion, a P/E ratio of 345.24, a P/E/G ratio of 4.01 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 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 quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $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. Equities research analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current 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.