Ninety One UK Ltd Decreases Stock Holdings in CoStar Group, Inc. $CSGP

Key Points

• Ninety One UK Ltd has reduced its holdings in CoStar Group by 10.3%, possessing 320,015 shares valued at $25,729,000 following the sale of 36,932 shares in the second quarter.
• CoStar Group's shares are currently priced at $83.48, with a market cap of $35.37 billion, and the company reported a net margin of 3.57% with a year-over-year revenue increase of 15.2%.
• Several analysts have upgraded their ratings and price targets for CoStar Group, with JPMorgan Chase increasing its target from $87 to $101, reflecting optimistic market sentiment.

Ninety One UK Ltd cut its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 10.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 320,015 shares of the technology company's stock after selling 36,932 shares during the quarter. Ninety One UK Ltd owned 0.08% of CoStar Group worth $25,729,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Chicago Capital LLC raised its stake in CoStar Group by 2.2% during the second quarter. Chicago Capital LLC now owns 964,290 shares of the technology company's stock valued at $77,529,000 after purchasing an additional 20,335 shares in the last quarter. GC Wealth Management RIA LLC purchased a new stake in shares of CoStar Group during the 2nd quarter valued at about $216,000. Generate Investment Management Ltd bought a new position in shares of CoStar Group in the 2nd quarter valued at about $6,306,000. ORG Wealth Partners LLC grew its position in CoStar Group by 20.7% in the second quarter. ORG Wealth Partners LLC now owns 3,148 shares of the technology company's stock worth $258,000 after acquiring an additional 540 shares in the last quarter. Finally, Patton Fund Management Inc. purchased a new position in CoStar Group in the second quarter worth about $214,000. Institutional investors own 96.60% of the company's stock.

CoStar Group Stock Down 1.1%

NASDAQ:CSGP opened at $83.48 on Thursday. The company has a market cap of $35.37 billion, a price-to-earnings ratio of 333.92, a price-to-earnings-growth ratio of 3.88 and a beta of 0.87. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $97.43. The company has a current ratio of 5.83, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12. The stock has a fifty day simple moving average of $89.54 and a 200-day simple moving average of $82.75.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. The firm 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 business 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. Analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CSGP shares. JPMorgan Chase & Co. upped their price objective on CoStar Group from $87.00 to $101.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Citigroup increased their price target on CoStar Group from $91.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Stephens upgraded CoStar Group to a "strong-buy" rating and set a $105.00 price target for the company in a research report on Monday, June 16th. BMO Capital Markets boosted their price objective on shares of CoStar Group from $82.00 to $89.00 and gave the company a "market perform" rating in a research report on Wednesday, July 23rd. Finally, Robert W. Baird increased their target price on shares of CoStar Group from $100.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. One equities 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, CoStar Group currently has an average rating of "Moderate Buy" and a consensus target price of $94.15.

Insider Activity at CoStar Group

In other CoStar Group 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 directly owned 25,771 shares of the company's stock, valued at $2,392,837.35. The trade was a 7.31% decrease in their position. The sale 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 company's stock in a transaction on 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 completion of 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 disclosure for this sale can be found here. In the last three months, insiders sold 52,033 shares of company stock worth $4,777,764. 1.09% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding CSGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CoStar Group, Inc. (NASDAQ:CSGP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.