Itau Unibanco Holding S.A. Acquires New Shares in CoStar Group, Inc. $CSGP

Key Points

• Itau Unibanco Holding S.A. invested approximately $2.22 million in CoStar Group, acquiring 27,993 shares of the technology company in the first quarter.
• Multiple institutional investors including Wayfinding Financial and Bayforest Capital have also recently purchased stakes in CoStar Group, with the aggregate institutional ownership now at 96.60%.
• CoStar Group reported earnings of $0.17 per share for the last quarter, beating analyst estimates and demonstrating a 15.2% year-over-year revenue growth.

Itau Unibanco Holding S.A. purchased a new position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 27,993 shares of the technology company's stock, valued at approximately $2,218,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in CoStar Group by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 68,426,711 shares of the technology company's stock valued at $5,421,448,000 after acquiring an additional 2,709,320 shares in the last quarter. Bamco Inc. NY increased its position in shares of CoStar Group by 2.2% during the 4th quarter. Bamco Inc. NY now owns 19,203,564 shares of the technology company's stock valued at $1,374,783,000 after purchasing an additional 418,128 shares during the period. Baillie Gifford & Co. increased its position in shares of CoStar Group by 6.6% during the 1st quarter. Baillie Gifford & Co. now owns 8,436,199 shares of the technology company's stock valued at $668,400,000 after purchasing an additional 524,601 shares during the period. Mizuho Markets Americas LLC acquired a new position in shares of CoStar Group during the 1st quarter valued at $586,403,000. Finally, Polen Capital Management LLC increased its position in shares of CoStar Group by 1.6% during the 1st quarter. Polen Capital Management LLC now owns 6,601,800 shares of the technology company's stock valued at $523,061,000 after purchasing an additional 104,612 shares during the period. Institutional investors own 96.60% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CSGP. JPMorgan Chase & Co. lifted their price target on CoStar Group from $87.00 to $101.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. William Blair restated an "outperform" rating on shares of CoStar Group in a report on Wednesday, July 23rd. Stephens upgraded CoStar Group to a "strong-buy" rating and set a $105.00 target price on the stock in a report on Monday, June 16th. Robert W. Baird lifted their target price on CoStar Group from $100.00 to $105.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Finally, Keefe, Bruyette & Woods lifted their target price on CoStar Group from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.25.

Insider Buying and Selling at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 2,033 shares of CoStar Group 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 completion of the sale, the chief accounting officer owned 25,771 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frederick G. Saint sold 25,000 shares of CoStar Group stock in a transaction on Monday, July 28th. The shares were sold at an average price of $93.23, for a total value of $2,330,750.00. Following the sale, the insider directly 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. Company insiders own 1.09% of the company's stock.

CoStar Group Stock Down 0.9%

Shares of CoStar Group stock traded down $0.84 during midday trading on Monday, hitting $89.49. The company's stock had a trading volume of 1,974,735 shares, compared to its average volume of 2,693,874. The firm has a market capitalization of $37.91 billion, a P/E ratio of 357.96, a PEG ratio of 4.36 and a beta of 0.87. The stock has a 50-day simple moving average of $87.98 and a 200-day simple moving average of $81.23. 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, Inc. has a 1-year low of $68.26 and a 1-year high of $97.43.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations of $772.06 million. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%.CoStar Group's revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm posted $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. As a group, sell-side analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

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.