Park Avenue Securities LLC Makes New Investment in CoStar Group, Inc. $CSGP

Key Points

• Park Avenue Securities LLC has acquired a stake in CoStar Group, Inc. valued at approximately $2.1 million, signaling renewed interest in the tech company.
• CoStar Group's stock has experienced a recent decline of 1.5%, with current trading around $84.05, despite a market cap of $35.61 billion.
• The company's earnings report showed a beat on estimates with $0.17 EPS, alongside a year-over-year revenue increase of 15.2%, leading to analysts setting varied price targets for the stock.

Park Avenue Securities LLC acquired a new stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 26,232 shares of the technology company's stock, valued at approximately $2,109,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Aurora Investment Managers LLC. grew its position in 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 purchasing an additional 164 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of CoStar Group by 5.0% in the first quarter. First Horizon Advisors Inc. now owns 3,746 shares of the technology company's stock valued at $297,000 after buying an additional 179 shares during the period. Three Seasons Wealth LLC grew its position in CoStar Group by 4.2% during the second quarter. Three Seasons Wealth LLC now owns 4,405 shares of the technology company's stock worth $354,000 after buying an additional 179 shares in the last quarter. CVA Family Office LLC increased its stake in CoStar Group by 28.3% during the first quarter. CVA Family Office LLC now owns 843 shares of the technology company's stock valued at $67,000 after acquiring an additional 186 shares during the period. Finally, Kentucky Retirement Systems increased its stake in CoStar Group by 0.7% during the first quarter. Kentucky Retirement Systems now owns 28,348 shares of the technology company's stock valued at $2,246,000 after acquiring an additional 186 shares during the period. Institutional investors own 96.60% of the company's stock.

CoStar Group Stock Down 1.5%

Shares of NASDAQ CSGP opened at $84.05 on Thursday. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $97.43. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.83 and a current ratio of 5.83. The business has a fifty day moving average of $89.78 and a two-hundred day moving average of $82.54. The stock has a market cap of $35.61 billion, a PE ratio of 336.20, a PEG ratio of 3.93 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. CoStar Group had a net margin of 3.57% and a return on equity of 2.88%. The business had revenue of $781.30 million during the quarter, compared to analysts' expectations of $772.06 million. During the same quarter last year, the company posted $0.15 EPS. The firm'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. As a group, equities research analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on CSGP shares. Bank of America started coverage on CoStar Group in a research report on Friday, May 30th. They issued a "neutral" rating and a $79.00 price objective for the company. JPMorgan Chase & Co. raised their target price on CoStar Group from $87.00 to $101.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. William Blair reissued an "outperform" rating on shares of CoStar Group in a report on Wednesday, July 23rd. BMO Capital Markets increased 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 note on Wednesday, July 23rd. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and set a $70.00 price objective (up from $65.00) on shares of CoStar Group in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $94.15.

Insider Buying and Selling

In related news, insider Frederick G. Saint sold 25,000 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $90.33, for a total transaction of $2,258,250.00. Following the completion of the sale, the insider directly owned 293,103 shares of the company's stock, valued at $26,475,993.99. This trade represents a 7.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Cynthia Cammett Cann sold 2,033 shares of CoStar Group stock in a transaction on 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 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. Over the last 90 days, insiders have sold 52,033 shares of company stock worth $4,777,764. 1.09% of the stock is owned by corporate insiders.

CoStar Group Company 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.

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