Royal Bank of Canada Decreases Stock Holdings in CoStar Group, Inc. $CSGP

Key Points

• Royal Bank of Canada reduced its holdings in CoStar Group by 4.8%, owning 1,383,183 shares valued at approximately $109.59 million.
• Analysts have raised their target prices for CoStar Group, with estimates now reaching as high as $105, and the stock is currently rated as a "Moderate Buy" with an average target price of $94.15.
• CoStar Group reported a 15.2% increase in quarterly revenue year-over-year, with an earnings per share (EPS) of $0.17, surpassing analyst estimates of $0.14.

Royal Bank of Canada cut its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 4.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,383,183 shares of the technology company's stock after selling 69,259 shares during the quarter. Royal Bank of Canada owned 0.33% of CoStar Group worth $109,589,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CSGP. Wayfinding Financial LLC purchased a new position in shares of CoStar Group during the first quarter worth approximately $29,000. Bayforest Capital Ltd purchased a new position in shares of CoStar Group in the first quarter worth $29,000. GKV Capital Management Co. Inc. purchased a new position in shares of CoStar Group in the first quarter worth $31,000. Zions Bancorporation National Association UT purchased a new position in shares of CoStar Group in the first quarter worth $31,000. Finally, Cullen Frost Bankers Inc. increased its stake in shares of CoStar Group by 137.4% in the first quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock worth $32,000 after buying an additional 235 shares during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CSGP has been the topic of several analyst reports. BMO Capital Markets lifted their target price on shares of CoStar Group from $82.00 to $89.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company reaffirmed an "underweight" rating and issued a $70.00 target price (up from $65.00) on shares of CoStar Group in a research note on Wednesday, July 16th. Robert W. Baird lifted their target price on shares of CoStar Group from $100.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Citigroup boosted their price objective on shares of CoStar Group from $91.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Stephens raised shares of CoStar Group to a "strong-buy" rating and set a $105.00 price objective on the stock in a research report on Monday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, twelve 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.com, CoStar Group presently has an average rating of "Moderate Buy" and an average price target of $94.15.

Insiders Place Their Bets

In other 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 transaction 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Frederick G. Saint sold 25,000 shares of the company's stock in a transaction dated 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 transaction, the insider owned 293,103 shares in the company, valued at approximately $26,475,993.99. The trade was a 7.86% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,033 shares of company stock worth $4,777,764. Company insiders own 1.09% of the company's stock.

CoStar Group Stock Up 0.4%

Shares of CSGP stock traded up $0.36 during mid-day trading on Friday, reaching $89.46. 1,666,535 shares of the company's stock traded hands, compared to its average volume of 2,477,359. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $97.43. The company has a market cap of $37.90 billion, a P/E ratio of 357.84, a P/E/G ratio of 4.63 and a beta of 0.87. 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 company's 50-day moving average price is $88.77 and its 200-day moving average price is $81.65.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The technology company reported $0.17 EPS for the quarter, beating 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 firm had revenue of $781.30 million for the quarter, compared to analysts' expectations of $772.06 million. During the same quarter in the previous year, the business posted $0.15 EPS. 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, equities analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

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.