CoStar Group, Inc. $CSGP Shares Bought by Kensico Capital Management Corp

Key Points

• Kensico Capital Management Corp increased its stake in CoStar Group by 86.0%, owning 1,331,300 shares valued at approximately $105.5 million as of the latest SEC filing.
• Insiders at CoStar Group, including Frederick G. Saint and Cynthia Cammett Cann, sold a total of 52,033 shares valued at nearly $4.8 million in the last quarter.
• CoStar Group reported a quarterly earnings beat with $0.17 EPS compared to analyst expectations of $0.14, indicating a 15.2% year-over-year revenue growth.

Kensico Capital Management Corp raised its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 86.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,331,300 shares of the technology company's stock after buying an additional 615,500 shares during the period. CoStar Group comprises approximately 2.4% of Kensico Capital Management Corp's investment portfolio, making the stock its 15th biggest holding. Kensico Capital Management Corp owned approximately 0.32% of CoStar Group worth $105,479,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CSGP. Colonial Trust Co SC grew its position in CoStar Group by 27.4% during the fourth quarter. Colonial Trust Co SC now owns 674 shares of the technology company's stock worth $48,000 after buying an additional 145 shares in the last quarter. Aurora Investment Managers LLC. raised its position in shares of CoStar Group by 0.7% in the 1st quarter. Aurora Investment Managers LLC. now owns 22,357 shares of the technology company's stock worth $1,771,000 after acquiring an additional 164 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of CoStar Group by 5.0% in the 1st quarter. First Horizon Advisors Inc. now owns 3,746 shares of the technology company's stock worth $297,000 after acquiring an additional 179 shares in the last quarter. CVA Family Office LLC increased its position in CoStar Group by 28.3% in the 1st quarter. CVA Family Office LLC now owns 843 shares of the technology company's stock valued at $67,000 after buying an additional 186 shares in the last quarter. Finally, Kentucky Retirement Systems boosted its stake in CoStar Group by 0.7% during the 1st quarter. Kentucky Retirement Systems now owns 28,348 shares of the technology company's stock valued at $2,246,000 after purchasing an additional 186 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

CoStar Group Stock Up 0.1%

Shares of NASDAQ:CSGP traded up $0.08 during trading on Tuesday, hitting $88.14. 2,622,606 shares of the company were exchanged, compared to its average volume of 3,117,409. The firm's 50 day moving average price is $88.93 and its 200-day moving average price is $81.75. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $97.43. The stock has a market capitalization of $37.34 billion, a P/E ratio of 352.56, a PEG ratio of 4.12 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.83 and a quick ratio of 5.83.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings results 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. 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 revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the company posted $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. On average, research analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Frederick G. Saint sold 25,000 shares of the firm's stock in a transaction that occurred 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 transaction, the insider owned 319,539 shares in the company, valued at approximately $29,790,620.97. This trade represents a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the firm's stock in a transaction that occurred 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 $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 quarter, insiders have sold 52,033 shares of company stock worth $4,777,764. Insiders own 1.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CSGP shares. Royal Bank Of Canada upped their price objective on CoStar Group from $83.00 to $91.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 23rd. 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 report on Wednesday, July 16th. William Blair reiterated an "outperform" rating on shares of CoStar Group in a report on Wednesday, July 23rd. Keefe, Bruyette & Woods raised their target price on shares of CoStar Group from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of CoStar Group from $87.00 to $101.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently 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.