CoStar Group, Inc. $CSGP Holdings Raised by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D increased its holdings in CoStar Group, Inc. by 3.2%, acquiring an additional 4,766 shares, bringing its total ownership to 155,343 shares worth approximately $12.3 million.
• CoStar Group recently reported earnings of $0.17 per share, exceeding expectations, with revenues reaching $781.3 million, a year-over-year increase of 15.2%.
• Analysts have a consensus rating of "Moderate Buy" for CoStar Group, with an average price target of $93.25, reflecting a range of valuations from research firms.

State of New Jersey Common Pension Fund D grew its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 155,343 shares of the technology company's stock after purchasing an additional 4,766 shares during the period. State of New Jersey Common Pension Fund D's holdings in CoStar Group were worth $12,308,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CSGP. Vanguard Group Inc. boosted its holdings in shares of CoStar Group by 4.1% in the first quarter. Vanguard Group Inc. now owns 68,426,711 shares of the technology company's stock valued at $5,421,448,000 after acquiring an additional 2,709,320 shares in the last quarter. Bamco Inc. NY boosted its holdings in shares of CoStar Group by 2.2% in the fourth quarter. Bamco Inc. NY now owns 19,203,564 shares of the technology company's stock valued at $1,374,783,000 after acquiring an additional 418,128 shares in the last quarter. Capital International Investors boosted its holdings in shares of CoStar Group by 44.9% in the fourth quarter. Capital International Investors now owns 14,032,363 shares of the technology company's stock valued at $1,004,578,000 after acquiring an additional 4,345,267 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of CoStar Group by 6.6% in the first quarter. Baillie Gifford & Co. now owns 8,436,199 shares of the technology company's stock valued at $668,400,000 after acquiring an additional 524,601 shares in the last quarter. Finally, Mizuho Markets Americas LLC bought a new position in shares of CoStar Group in the first quarter valued at approximately $586,403,000. Institutional investors own 96.60% of the company's stock.

Insider Activity at CoStar Group

In related news, insider Frederick G. Saint sold 25,000 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $93.23, for a total value of $2,330,750.00. Following the completion of the sale, 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 legal 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 that occurred 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 completion of the sale, the chief accounting officer owned 25,771 shares of the company's stock, valued at approximately $2,392,837.35. This trade represents a 7.31% decrease in their position. The disclosure for this sale can be found here. 1.09% of the stock is currently owned by corporate insiders.

CoStar Group Trading Up 0.1%

Shares of NASDAQ:CSGP traded up $0.11 during mid-day trading on Thursday, hitting $88.36. The stock had a trading volume of 2,042,553 shares, compared to its average volume of 3,185,880. 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 company has a market cap of $37.43 billion, a PE ratio of 353.44, a P/E/G ratio of 4.33 and a beta of 0.85. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $97.43. The company's 50 day moving average is $86.69 and its 200-day moving average is $80.52.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued 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. The business had revenue of $781.30 million during 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 firm's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior 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, sell-side analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on CSGP shares. Needham & Company LLC increased their price objective on shares of CoStar Group from $98.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. increased their target price on shares of CoStar Group from $87.00 to $101.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Robert W. Baird increased their target price on shares of CoStar Group from $100.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods increased their target price on shares of CoStar Group from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Finally, JMP Securities reissued a "market outperform" rating and set a $85.00 target price on shares of CoStar Group in a research note on Wednesday, April 30th. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $93.25.

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.