Northwestern Mutual Wealth Management Co. Cuts Stake in CoStar Group, Inc. $CSGP

Key Points

• Northwestern Mutual Wealth Management Co. reduced its holdings in CoStar Group by 57.2%, now holding 89,556 shares valued at $7.1 million, following the sale of 119,505 shares.
• Institutional investors and hedge funds currently own 96.60% of CoStar Group's stock, with notable increases in holdings by Vanguard Group and Baillie Gifford & Co.
• CoStar Group's recent quarterly earnings exceeded expectations, reporting $0.17 earnings per share and revenue of $781.30 million, a 15.2% increase year-over-year.

Northwestern Mutual Wealth Management Co. lowered its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 57.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 89,556 shares of the technology company's stock after selling 119,505 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in CoStar Group were worth $7,095,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wayfinding Financial LLC acquired a new position in shares of CoStar Group in the first quarter valued at approximately $29,000. Bayforest Capital Ltd acquired a new position in CoStar Group during the 1st quarter worth approximately $29,000. GKV Capital Management Co. Inc. acquired a new position in CoStar Group during the 1st quarter worth approximately $31,000. Zions Bancorporation National Association UT acquired a new position in CoStar Group during the 1st quarter worth approximately $31,000. Finally, Cullen Frost Bankers Inc. grew its holdings in CoStar Group by 137.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock worth $32,000 after acquiring an additional 235 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on CSGP. Robert W. Baird boosted their price target on shares of CoStar Group from $100.00 to $105.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. William Blair reiterated an "outperform" rating on shares of CoStar Group in a report on Wednesday, July 23rd. Stephens upgraded shares of CoStar Group to a "strong-buy" rating and set a $105.00 price target for the company in a report on Monday, June 16th. JPMorgan Chase & Co. boosted their price objective on shares of CoStar Group from $87.00 to $101.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, BMO Capital Markets boosted their price objective on shares of CoStar Group from $82.00 to $89.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $93.25.

CoStar Group Stock Performance

CSGP stock traded down $0.84 on Friday, hitting $89.49. The company's stock had a trading volume of 1,974,735 shares, compared to its average volume of 2,737,199. The firm has a 50 day moving average of $87.98 and a two-hundred day moving average of $81.18. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $97.43. The stock has a market cap of $37.91 billion, a price-to-earnings ratio of 357.96, a price-to-earnings-growth ratio of 4.36 and a beta of 0.85. The company has a current ratio of 5.83, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12.

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, beating the consensus estimate of $0.14 by $0.03. CoStar Group had a net margin of 3.57% and a return on equity of 2.88%. The firm had revenue of $781.30 million during the quarter, compared to the consensus estimate of $772.06 million. During the same quarter in the prior year, the firm earned $0.15 EPS. CoStar Group's revenue for the quarter 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. Equities analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, insider Frederick G. Saint sold 25,000 shares of the company's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $93.23, for a total transaction of $2,330,750.00. Following the completion of the transaction, the insider owned 319,539 shares in the company, valued at approximately $29,790,620.97. This represents a 7.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the company's 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 transaction, the chief accounting officer owned 25,771 shares of the company's stock, valued at approximately $2,392,837.35. The trade was a 7.31% decrease in their position. The disclosure for this sale can be found here. 1.09% of the stock is owned by corporate 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.