Third Point LLC Makes New Investment in CoStar Group, Inc. $CSGP

Key Points

• Third Point LLC has made a significant investment of approximately $156.48 million in CoStar Group, acquiring 1,975,000 shares, which now represents 2.4% of their holdings.
• CoStar Group's stock price recently opened at $89.46, with a market capitalization of $37.90 billion, reflecting a strong presence in the commercial real estate analytics market.
• Insider sales at CoStar Group indicate a 7.31% decrease in the position of CAO Cynthia Cammett Cann after selling shares, while a total of 52,033 shares have been sold by insiders over the last 90 days.

Third Point LLC bought a new position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,975,000 shares of the technology company's stock, valued at approximately $156,479,000. CoStar Group comprises about 2.4% of Third Point LLC's investment portfolio, making the stock its 19th largest position. Third Point LLC owned 0.47% of CoStar Group as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV grew its position in shares of CoStar Group by 84.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 17,448 shares of the technology company's stock valued at $1,249,000 after buying an additional 7,963 shares during the last quarter. Colonial Trust Co SC boosted its stake in CoStar Group by 27.4% during the 4th quarter. Colonial Trust Co SC now owns 674 shares of the technology company's stock valued at $48,000 after purchasing an additional 145 shares during the period. Deutsche Bank AG boosted its stake in CoStar Group by 25.4% during the 4th quarter. Deutsche Bank AG now owns 1,589,997 shares of the technology company's stock valued at $113,828,000 after purchasing an additional 321,919 shares during the period. Fiduciary Trust Co boosted its stake in CoStar Group by 9.8% during the 4th quarter. Fiduciary Trust Co now owns 3,988 shares of the technology company's stock valued at $286,000 after purchasing an additional 355 shares during the period. Finally, Focus Partners Wealth acquired a new position in CoStar Group during the 4th quarter valued at about $43,895,000. Institutional investors own 96.60% of the company's stock.

Insider Activity at CoStar Group

In other CoStar Group news, insider Frederick G. Saint sold 25,000 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $90.33, for a total value of $2,258,250.00. Following the completion of the sale, the insider owned 293,103 shares in the company, valued at $26,475,993.99. This represents a 7.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was 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. The trade was a 7.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,033 shares of company stock valued at $4,777,764. 1.09% of the stock is owned by insiders.

CoStar Group Price Performance

Shares of NASDAQ CSGP traded up $0.08 during midday trading on Tuesday, reaching $88.14. The company's stock had a trading volume of 2,625,864 shares, compared to its average volume of 2,456,650. 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 company has a market cap of $37.34 billion, a price-to-earnings ratio of 352.56, a price-to-earnings-growth ratio of 4.05 and a beta of 0.87. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $97.43. The company has a 50 day moving average price of $89.05 and a 200 day moving average price of $81.80.

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, equities research analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CSGP shares. Wolfe Research started coverage on shares of CoStar Group in a research note on Wednesday, September 3rd. They set an "outperform" rating and a $105.00 target price for the company. Bank of America started coverage on shares of CoStar Group in a research note on Friday, May 30th. They set a "neutral" rating and a $79.00 target price for the company. JPMorgan Chase & Co. boosted 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. BMO Capital Markets upped their price target on shares of 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, Wells Fargo & Company reaffirmed an "underweight" rating and issued a $70.00 price target (up from $65.00) on shares of CoStar Group in a research note on Wednesday, July 16th. 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's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $94.15.

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.