Public Sector Pension Investment Board Sells 173,030 Shares of CoStar Group, Inc. $CSGP

Key Points

• The Public Sector Pension Investment Board significantly reduced its stake in CoStar Group, Inc. by 60.6% during the first quarter, holding 112,668 shares valued at approximately $8.93 million after selling 173,030 shares.
• CoStar Group's latest quarterly earnings exceeded expectations, with an EPS of $0.17 compared to an estimate of $0.14, and a revenue increase of 15.2% year-over-year.
• Analyst ratings for CoStar Group show a consensus of "Moderate Buy", with a price target averaging around $93.25, amidst a backdrop of various recent upgrades from brokerages.

Public Sector Pension Investment Board lessened its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 60.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 112,668 shares of the technology company's stock after selling 173,030 shares during the quarter. Public Sector Pension Investment Board's holdings in CoStar Group were worth $8,927,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Independent Advisor Alliance boosted its holdings in shares of CoStar Group by 20.8% during the 1st quarter. Independent Advisor Alliance now owns 4,058 shares of the technology company's stock valued at $322,000 after acquiring an additional 700 shares during the last quarter. Nuveen LLC purchased a new stake in shares of CoStar Group during the 1st quarter valued at about $82,756,000. Cooper Financial Group purchased a new stake in shares of CoStar Group during the 1st quarter valued at about $257,000. Polen Capital Management LLC boosted its holdings in shares of CoStar Group by 1.6% during the 1st quarter. Polen Capital Management LLC now owns 6,601,800 shares of the technology company's stock valued at $523,061,000 after acquiring an additional 104,612 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of CoStar Group by 1.7% during the 1st quarter. Invesco Ltd. now owns 4,305,556 shares of the technology company's stock valued at $341,129,000 after acquiring an additional 70,561 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

Insider Buying and Selling at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 2,033 shares of the business's 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 sale, the chief accounting officer owned 25,771 shares in the company, valued at approximately $2,392,837.35. The trade was a 7.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Frederick G. Saint sold 25,000 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $93.23, for a total transaction of $2,330,750.00. Following the completion of the sale, the insider owned 319,539 shares in the company, valued at $29,790,620.97. This represents a 7.26% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.09% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CSGP shares. JPMorgan Chase & Co. raised their price objective on shares of CoStar Group from $87.00 to $101.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Wells Fargo & Company reissued an "underweight" rating and issued a $70.00 price objective (up previously from $65.00) on shares of CoStar Group in a report on Wednesday, July 16th. Needham & Company LLC raised their price objective on shares of CoStar Group from $98.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Stephens raised shares of CoStar Group to a "strong-buy" rating and set a $105.00 price objective on the stock in a report on Monday, June 16th. Finally, Bank of America started coverage on shares of CoStar Group in a report on Friday, May 30th. They issued a "neutral" rating and a $79.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, CoStar Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.25.

CoStar Group Price Performance

Shares of CSGP stock traded up $0.7420 during mid-day trading on Tuesday, hitting $88.9020. The company had a trading volume of 607,758 shares, compared to its average volume of 3,188,786. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $97.43. The stock's 50 day moving average price is $86.41 and its 200-day moving average price is $80.40. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.83 and a quick ratio of 5.83. The company has a market capitalization of $37.66 billion, a P/E ratio of 355.70, a P/E/G ratio of 4.37 and a beta of 0.85.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its 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 net margin of 3.57% and a return on equity of 2.88%. The firm had revenue of $781.30 million for the quarter, compared to the consensus estimate of $772.06 million. During the same quarter in the previous year, the firm earned $0.15 earnings per share. The company's quarterly revenue was up 15.2% compared to the same quarter last year. CoStar Group has set its FY 2025 guidance at 0.780-0.800 EPS. Q3 2025 guidance at 0.150-0.17 EPS. Equities research analysts forecast 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.