CoStar Group, Inc. $CSGP Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd reduced its holdings in CoStar Group by 30.5%, selling 30,649 shares and owning 69,866 shares worth approximately $5.6 million as of the latest SEC filing.
• CoStar Group has received several upgrades from analysts, with price targets ranging from $79 to $105, leading to a consensus rating of "Moderate Buy" and a price target of $94.15.
• During the latest quarter, CoStar posted earnings of $0.17 per share, beating expectations, and reported a 15.2% year-over-year revenue increase to $781.30 million.

Sumitomo Mitsui DS Asset Management Company Ltd lessened its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 30.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,866 shares of the technology company's stock after selling 30,649 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in CoStar Group were worth $5,617,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aurora Investment Managers LLC. lifted its position in CoStar Group by 0.7% during the first quarter. Aurora Investment Managers LLC. now owns 22,357 shares of the technology company's stock worth $1,771,000 after buying an additional 164 shares in the last quarter. First Horizon Advisors Inc. lifted its position in CoStar Group by 5.0% during the first quarter. First Horizon Advisors Inc. now owns 3,746 shares of the technology company's stock worth $297,000 after buying an additional 179 shares in the last quarter. CVA Family Office LLC lifted its position in CoStar Group by 28.3% during the first quarter. CVA Family Office LLC now owns 843 shares of the technology company's stock worth $67,000 after buying an additional 186 shares in the last quarter. Kentucky Retirement Systems raised its position in CoStar Group by 0.7% in the first quarter. Kentucky Retirement Systems now owns 28,348 shares of the technology company's stock valued at $2,246,000 after purchasing an additional 186 shares during the period. Finally, Norden Group LLC raised its position in CoStar Group by 1.3% in the first quarter. Norden Group LLC now owns 15,557 shares of the technology company's stock valued at $1,233,000 after purchasing an additional 194 shares during the period. Hedge funds and other institutional investors own 96.60% of the company's stock.

CoStar Group Stock Performance

Shares of CoStar Group stock traded down $0.65 on Monday, hitting $86.45. The stock had a trading volume of 1,281,079 shares, compared to its average volume of 3,095,688. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $97.43. The company has a current ratio of 5.83, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12. The stock has a market cap of $36.63 billion, a price-to-earnings ratio of 345.81, a P/E/G ratio of 4.01 and a beta of 0.87. The company's 50 day moving average price is $89.76 and its 200 day moving average price is $82.46.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share 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 return on equity of 2.88% and a net margin of 3.57%.The business's quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the business 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 anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

Insider Activity at CoStar Group

In other CoStar Group news, insider Frederick G. Saint sold 25,000 shares of the business's stock in a transaction that occurred on 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was 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. The trade was a 7.31% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,033 shares of company stock valued at $4,777,764. 1.09% of the stock is owned by company insiders.

Analyst Ratings Changes

CSGP has been the topic of a number of recent research reports. Robert W. Baird boosted their price target 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. Wells Fargo & Company reissued an "underweight" rating and set a $70.00 target price (up from $65.00) on shares of CoStar Group in a research note on Wednesday, July 16th. JPMorgan Chase & Co. boosted their target price on CoStar Group from $87.00 to $101.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. BMO Capital Markets boosted their target price on CoStar Group from $82.00 to $89.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 23rd. Finally, William Blair reissued an "outperform" rating on shares of CoStar Group in a research note on Wednesday, July 23rd. One equities research 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 given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $94.15.

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.