CoStar Group, Inc. $CSGP Shares Acquired by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in CoStar Group by 0.9%, owning over 4 million shares valued at approximately $319 million after acquiring additional shares in Q1.
• Analysts have raised their price targets for CoStar Group, with a consensus target price of $93.25 and ratings ranging from "Strong Buy" to "Sell".
• CoStar Group reported a 15.2% year-over-year revenue growth in its latest quarterly results, achieving revenue of $781.3 million and an EPS of $0.17, exceeding expectations.

Northern Trust Corp lifted its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,027,534 shares of the technology company's stock after purchasing an additional 34,210 shares during the quarter. Northern Trust Corp owned about 0.95% of CoStar Group worth $319,102,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its position in CoStar Group by 42.4% in the first quarter. Farther Finance Advisors LLC now owns 1,210 shares of the technology company's stock worth $96,000 after acquiring an additional 360 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in CoStar Group in the first quarter worth approximately $221,000. PFG Investments LLC purchased a new position in CoStar Group in the first quarter worth approximately $234,000. Golden State Wealth Management LLC grew its position in CoStar Group by 6.3% in the first quarter. Golden State Wealth Management LLC now owns 3,385 shares of the technology company's stock worth $268,000 after acquiring an additional 200 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in CoStar Group in the first quarter worth approximately $4,835,000. Institutional investors and hedge funds own 96.60% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. JMP Securities reiterated a "market outperform" rating and issued a $85.00 price objective on shares of CoStar Group in a research report on Wednesday, April 30th. JPMorgan Chase & Co. increased their price objective on CoStar Group from $87.00 to $101.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. BMO Capital Markets increased their price objective on CoStar Group from $82.00 to $89.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada increased their price objective on CoStar Group from $83.00 to $91.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Finally, Citigroup increased their price objective on CoStar Group from $91.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, CoStar Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.25.

CoStar Group Trading Up 3.2%

Shares of CSGP traded up $2.86 during midday trading on Friday, hitting $91.22. 2,875,172 shares of the stock were exchanged, compared to its average volume of 2,992,999. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $97.43. The stock has a fifty day simple moving average of $87.01 and a 200 day simple moving average of $80.71. The firm has a market cap of $38.65 billion, a P/E ratio of 364.88, a P/E/G ratio of 4.44 and a beta of 0.85. 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 released its quarterly 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. 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 during the quarter, compared to analyst estimates of $772.06 million. During the same period last year, the business posted $0.15 earnings per share. The company's quarterly revenue 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, research analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

Insider Buying and Selling at CoStar Group

In other 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 directly owned 25,771 shares in the company, valued at approximately $2,392,837.35. This trade represents a 7.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frederick G. Saint sold 25,000 shares of the 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 completion of the sale, the insider owned 319,539 shares in the company, valued at approximately $29,790,620.97. The trade was a 7.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.09% of the stock is currently owned by company insiders.

CoStar Group 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.