Summit Securities Group LLC Boosts Position in CoStar Group, Inc. $CSGP

Key Points

• Summit Securities Group LLC increased its holdings in CoStar Group, Inc. by 219.8% to a total of 13,000 shares, worth approximately $1.03 million.
• CoStar Group stock rose 1.9% to open at $89.66, with analysts predicting a target price of $93.25 amid mostly positive outlooks post-quarterly earnings that exceeded expectations.
• Insider selling occurred recently, with CAO Cynthia Cammett Cann and insider Frederick G. Saint selling a combined total of approximately $2.52 million in shares.

Summit Securities Group LLC boosted its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 219.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,000 shares of the technology company's stock after buying an additional 8,935 shares during the quarter. Summit Securities Group LLC's holdings in CoStar Group were worth $1,030,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Wayfinding Financial LLC purchased a new position in CoStar Group in the 1st quarter worth approximately $29,000. Bayforest Capital Ltd purchased a new stake in CoStar Group in the first quarter valued at approximately $29,000. GKV Capital Management Co. Inc. purchased a new stake in CoStar Group in the first quarter valued at approximately $31,000. Zions Bancorporation National Association UT acquired a new position in shares of CoStar Group in the first quarter worth $31,000. Finally, Cullen Frost Bankers Inc. grew 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 acquiring an additional 235 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CSGP has been the topic of several recent analyst reports. Needham & Company LLC increased their target price on CoStar Group from $98.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Bank of America started coverage on shares of CoStar Group in a research report on Friday, May 30th. They issued a "neutral" rating and a $79.00 price objective for the company. Stephens upgraded shares of CoStar Group to a "strong-buy" rating and set a $105.00 price objective for the company in a research report on Monday, June 16th. Keefe, Bruyette & Woods lifted their price target on shares of CoStar Group from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Finally, Royal Bank Of Canada lifted their price target on shares of CoStar Group from $83.00 to $91.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $93.25.

CoStar Group Stock Performance

NASDAQ:CSGP traded up $2.56 during midday trading on Friday, hitting $90.92. The company's stock had a trading volume of 1,380,557 shares, compared to its average volume of 3,180,303. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $97.43. The firm's 50 day moving average is $86.81 and its 200-day moving average is $80.60. 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 firm has a market cap of $38.52 billion, a P/E ratio of 363.20, a P/E/G ratio of 4.30 and a beta of 0.85.

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 analysts' consensus estimates of $0.14 by $0.03. The business had revenue of $781.30 million for the quarter, compared to analysts' expectations of $772.06 million. CoStar Group had a net margin of 3.57% and a return on equity of 2.88%. The business's revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the company 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. Equities analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Frederick G. Saint sold 25,000 shares of CoStar Group stock in a transaction 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 sale, the insider owned 319,539 shares of the company's stock, valued at approximately $29,790,620.97. This trade represents a 7.26% decrease in their position. The transaction 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 CoStar Group 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 completion of the sale, the chief accounting officer directly owned 25,771 shares in the company, valued at $2,392,837.35. This 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 company insiders.

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.