Strait & Sound Wealth Management LLC Takes $309,000 Position in CoStar Group, Inc. $CSGP

Key Points

• Strait & Sound Wealth Management LLC acquired 3,906 shares of CoStar Group, Inc., valued at approximately $309,000, during the first quarter.
• The company reported a 15.2% increase in year-over-year revenue and beat earnings estimates with an EPS of $0.17 for the last quarter.
• CoStar Group has a strong institutional ownership rate of 96.60%, with many other investors also increasing their stakes in the company.

Strait & Sound Wealth Management LLC bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,906 shares of the technology company's stock, valued at approximately $309,000.

Other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in CoStar Group by 42.4% during the first quarter. Farther Finance Advisors LLC now owns 1,210 shares of the technology company's stock valued at $96,000 after buying an additional 360 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new position in CoStar Group during the first quarter valued at $221,000. PFG Investments LLC purchased a new position in CoStar Group during the first quarter valued at $234,000. Golden State Wealth Management LLC raised its stake in CoStar Group by 6.3% during the first quarter. Golden State Wealth Management LLC now owns 3,385 shares of the technology company's stock valued at $268,000 after buying an additional 200 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in CoStar Group by 11.2% during the first quarter. American Century Companies Inc. now owns 68,223 shares of the technology company's stock valued at $5,405,000 after buying an additional 6,873 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, insider Frederick G. Saint sold 25,000 shares of CoStar Group 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 transaction, the insider directly owned 319,539 shares in the company, valued at approximately $29,790,620.97. The trade was a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the chief accounting officer 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 have sold 52,033 shares of company stock worth $4,777,764 over the last quarter. 1.09% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CSGP shares. Robert W. Baird lifted their price objective on CoStar Group from $100.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Bank of America began coverage on CoStar Group in a report on Friday, May 30th. They issued a "neutral" rating and a $79.00 target price for the company. William Blair reissued an "outperform" rating on shares of CoStar Group in a report on Wednesday, July 23rd. Citigroup lifted their target price on CoStar Group from $91.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods lifted their target price on CoStar Group from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $94.15.

CoStar Group Stock Performance

Shares of CSGP traded down $0.26 during trading hours on Friday, hitting $86.80. The stock had a trading volume of 1,261,360 shares, compared to its average volume of 2,190,413. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.83 and a quick ratio of 5.83. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $97.43. The firm has a market capitalization of $36.77 billion, a PE ratio of 347.20, a PEG ratio of 4.01 and a beta of 0.87. The stock has a fifty day moving average price of $89.34 and a 200 day moving average price of $81.96.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. The company had revenue of $781.30 million during the quarter, compared to analyst estimates of $772.06 million. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%.CoStar Group's revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 earnings per share. CoStar Group has set its FY 2025 guidance at 0.780-0.800 EPS. Q3 2025 guidance at 0.150-0.17 EPS. Analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

About CoStar Group

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.