Janney Montgomery Scott LLC Sells 7,129 Shares of CoStar Group, Inc. $CSGP

Key Points

• Janney Montgomery Scott LLC reduced its stake in CoStar Group by 11.7%, selling 7,129 shares and retaining 53,902 shares worth approximately $4.33 million.
• Insider Frederick G. Saint sold 25,000 shares for about $2.33 million, resulting in a 7.26% decrease in his ownership of the stock.
• CoStar Group's latest quarterly earnings beat analysts' expectations, reporting a revenue of $781.3 million and adjusting FY 2025 EPS guidance between $0.780-$0.800.

Janney Montgomery Scott LLC trimmed its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 11.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,902 shares of the technology company's stock after selling 7,129 shares during the period. Janney Montgomery Scott LLC's holdings in CoStar Group were worth $4,334,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Wayfinding Financial LLC bought a new stake in CoStar Group in the first quarter valued at $29,000. Bayforest Capital Ltd bought a new stake in CoStar Group in the first quarter valued at $29,000. GKV Capital Management Co. Inc. bought a new stake in CoStar Group in the first quarter valued at $31,000. Zions Bancorporation National Association UT bought a new stake in CoStar Group in the first quarter valued at $31,000. Finally, Cullen Frost Bankers Inc. grew its position in CoStar Group by 137.4% in the first quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock valued at $32,000 after acquiring an additional 235 shares during the period. 96.60% of the stock is currently owned by institutional investors.

Insider Activity

In other CoStar Group news, insider Frederick G. Saint sold 25,000 shares of the stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $93.23, for a total value 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. This represents a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value of $188,764.05. Following the completion of the transaction, the chief accounting officer directly owned 25,771 shares in the company, valued at $2,392,837.35. The trade was a 7.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,033 shares of company stock worth $4,777,764 in the last three months. Insiders own 1.09% of the company's stock.

CoStar Group Trading Down 0.7%

Shares of CSGP opened at $80.60 on Wednesday. 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 12-month low of $68.26 and a 12-month high of $97.43. The firm has a market capitalization of $34.15 billion, a PE ratio of 322.40, a price-to-earnings-growth ratio of 3.74 and a beta of 0.87. The stock's fifty day simple moving average is $88.66 and its 200-day simple moving average is $82.88.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $772.06 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. The firm's revenue for the quarter was up 15.2% compared to the same quarter last year. 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, research analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on CSGP. BMO Capital Markets upped their price target on CoStar Group from $82.00 to $89.00 and gave the company a "market perform" rating in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods increased 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. 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. Wolfe Research assumed coverage on CoStar Group in a report on Wednesday, September 3rd. They set an "outperform" rating and a $105.00 target price on the stock. Finally, Wells Fargo & Company restated an "underweight" rating and set a $70.00 target price (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, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.15.

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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