CoStar Group, Inc. $CSGP Shares Sold by Ion Asset Management Ltd.

Key Points

• Ion Asset Management Ltd. reduced its stake in CoStar Group by 4.1%, selling 6,070 shares, and now holds 140,900 shares valued at approximately $11 million.
• A number of institutional investors, including Mizuho Markets and Vanguard Group, significantly increased their stakes in CoStar Group during the first quarter, with Vanguard now owning over $5.4 billion in shares.
• CoStar Group's latest earnings report showed an EPS of $0.17, exceeding expectations, with revenue growth of 15.2% year-over-year, and analysts have set an average target price of $94.15 for the stock.

Ion Asset Management Ltd. decreased its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 4.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 140,900 shares of the technology company's stock after selling 6,070 shares during the quarter. CoStar Group accounts for approximately 0.7% of Ion Asset Management Ltd.'s holdings, making the stock its 17th biggest position. Ion Asset Management Ltd.'s holdings in CoStar Group were worth $11,164,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CSGP. Wayfinding Financial LLC purchased a new position in CoStar Group in the 1st quarter worth about $29,000. Bayforest Capital Ltd purchased a new position in CoStar Group in the 1st quarter worth about $29,000. GKV Capital Management Co. Inc. purchased a new position in CoStar Group in the 1st quarter worth about $31,000. Zions Bancorporation National Association UT bought a new stake in shares of CoStar Group during the 1st quarter valued at about $31,000. Finally, Cullen Frost Bankers Inc. grew its stake in shares of CoStar Group by 137.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock valued at $32,000 after purchasing an additional 235 shares during the period. Hedge funds and other institutional investors own 96.60% of the company's stock.

CoStar Group Price Performance

Shares of CSGP traded up $0.08 during mid-day trading on Tuesday, hitting $88.14. 2,622,606 shares of the stock were exchanged, compared to its average volume of 3,117,409. The company has a market cap of $37.34 billion, a PE ratio of 352.56, a price-to-earnings-growth ratio of 4.12 and a beta of 0.87. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $97.43. The firm has a 50-day moving average of $88.93 and a two-hundred day moving average of $81.75. 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 issued its quarterly earnings data 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. 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 analysts' expectations of $772.06 million. During the same period in the prior year, the firm earned $0.15 EPS. The company'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, equities analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

Analyst Ratings Changes

CSGP has been the subject of a number of recent research reports. Bank of America initiated coverage on CoStar Group in a research note on Friday, May 30th. They set a "neutral" rating and a $79.00 price target for the company. Keefe, Bruyette & Woods boosted their price target on CoStar Group from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Stephens upgraded CoStar Group to a "strong-buy" rating and set a $105.00 price target for the company in a research note on Monday, June 16th. JPMorgan Chase & Co. boosted their price target on CoStar Group from $87.00 to $101.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company restated an "underweight" rating and set a $70.00 price target (up from $65.00) on shares of CoStar Group in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, CoStar Group has an average rating of "Moderate Buy" and a consensus target price of $94.15.

Insiders Place Their Bets

In other CoStar Group news, CAO Cynthia Cammett Cann sold 2,033 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $92.85, for a total value of $188,764.05. Following the sale, the chief accounting officer owned 25,771 shares in the company, valued at $2,392,837.35. This trade represents a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Frederick G. Saint sold 25,000 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $90.33, for a total value of $2,258,250.00. Following the completion of the sale, the insider owned 293,103 shares in the company, valued at approximately $26,475,993.99. The trade was a 7.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,033 shares of company stock worth $4,777,764. Insiders own 1.09% of the company's stock.

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.