CoStar Group, Inc. $CSGP Shares Purchased by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company increased its stake in CoStar Group, Inc. by 5.5% to own 275,800 shares worth approximately $21.85 million after adding 14,454 shares in Q1.
• Recent upgrades from analysts have raised target prices for CoStar Group stock to as high as $105.00, with the consensus rating currently at "Moderate Buy."
• CoStar Group reported a quarterly earnings per share of $0.17, exceeding estimates and showing a 15.2% increase in revenue year-over-year.

The Manufacturers Life Insurance Company boosted its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 5.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 275,800 shares of the technology company's stock after purchasing an additional 14,454 shares during the period. The Manufacturers Life Insurance Company owned about 0.07% of CoStar Group worth $21,852,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CSGP. Mizuho Markets Americas LLC purchased a new position in CoStar Group in the 1st quarter valued at approximately $586,403,000. Vanguard Group Inc. increased its stake in CoStar Group by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 68,426,711 shares of the technology company's stock valued at $5,421,448,000 after purchasing an additional 2,709,320 shares in the last quarter. Nuveen LLC purchased a new position in CoStar Group in the 1st quarter valued at approximately $82,756,000. Kensico Capital Management Corp purchased a new position in CoStar Group in the 4th quarter valued at approximately $51,244,000. Finally, Royal Bank of Canada increased its stake in CoStar Group by 87.4% in the 4th quarter. Royal Bank of Canada now owns 1,452,442 shares of the technology company's stock valued at $103,981,000 after purchasing an additional 677,222 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Price Performance

NASDAQ:CSGP traded up $0.36 during trading hours on Friday, reaching $89.46. 1,666,535 shares of the company traded hands, compared to its average volume of 2,477,359. The firm's 50-day moving average is $88.77 and its 200-day moving average is $81.65. The stock 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 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 1-year low of $68.26 and a 1-year high of $97.43.

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. The firm had revenue of $781.30 million for the quarter, compared to analysts' expectations of $772.06 million. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%.CoStar Group'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. Equities research analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

Insider Activity

In other CoStar Group news, CAO Cynthia Cammett Cann sold 2,033 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $92.85, for a total value of $188,764.05. Following the sale, the chief accounting officer directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Frederick G. Saint sold 25,000 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was 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 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 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 currently owned by company insiders.

Analyst Upgrades and Downgrades

CSGP has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised their price objective on CoStar Group from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Royal Bank Of Canada raised their price objective on CoStar Group from $83.00 to $91.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 23rd. Bank of America assumed coverage on CoStar Group in a research note on Friday, May 30th. They issued a "neutral" rating and a $79.00 price objective for the company. Robert W. Baird increased their target price on CoStar Group from $100.00 to $105.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company reiterated an "underweight" rating and set a $70.00 target price (up previously from $65.00) on shares of CoStar Group in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $94.15.

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.