Praxis Investment Management Inc. Sells 5,800 Shares of CoStar Group, Inc. $CSGP

Key Points

• Praxis Investment Management Inc. reduced its stake in CoStar Group by 46.8%, selling 5,800 shares and leaving it with 6,590 shares valued at approximately $530,000.
• Several large investors have recently acquired new positions in CoStar Group, leading to institutional shareholders now owning 96.60% of the company's stock.
• Wall Street analysts are optimistic about CoStar Group’s performance, with a consensus rating of "Moderate Buy" and an average price target of $94.15.

Praxis Investment Management Inc. decreased its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 46.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,590 shares of the technology company's stock after selling 5,800 shares during the period. Praxis Investment Management Inc.'s holdings in CoStar Group were worth $530,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CSGP. Wayfinding Financial LLC purchased a new position in shares of CoStar Group in the first quarter worth about $29,000. Bayforest Capital Ltd purchased a new position in CoStar Group during the first quarter valued at approximately $29,000. Zions Bancorporation National Association UT purchased a new position in CoStar Group during the first quarter valued at approximately $31,000. GKV Capital Management Co. Inc. purchased a new position in CoStar Group during the first quarter valued at approximately $31,000. Finally, Cullen Frost Bankers Inc. grew its stake in CoStar Group by 137.4% during the first quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock valued at $32,000 after acquiring an additional 235 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

Insider Transactions at CoStar Group

In other news, insider Frederick G. Saint sold 25,000 shares of the company's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $90.33, for a total value of $2,258,250.00. Following the sale, the insider directly owned 293,103 shares of the company's stock, valued at $26,475,993.99. This represents a 7.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $92.85, for a total transaction of $188,764.05. Following the sale, the chief accounting officer directly owned 25,771 shares in the company, valued at $2,392,837.35. This trade represents a 7.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,033 shares of company stock worth $4,777,764 over the last ninety days. Insiders own 1.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $91.00 price objective on shares of CoStar Group in a research note on Thursday, October 9th. Needham & Company LLC lifted their target price on shares of CoStar Group from $98.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods lifted their target price on shares of CoStar Group from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. lifted their target price 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. Finally, Robert W. Baird lifted their target price on shares of CoStar Group from $100.00 to $105.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $94.15.

CoStar Group Trading Down 0.5%

NASDAQ:CSGP opened at $73.99 on Friday. The company has a fifty day moving average of $85.48 and a 200 day moving average of $82.66. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $97.43. The company has a quick ratio of 5.83, a current ratio of 5.83 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $31.35 billion, a P/E ratio of 295.96, a P/E/G ratio of 3.48 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. The business had revenue of $781.30 million for the quarter, compared to the consensus estimate of $772.06 million. CoStar Group had a net margin of 3.57% and a return on equity of 2.88%. The company's quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $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 year.

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.

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.