Truist Financial Corp Sells 14,167 Shares of CoStar Group, Inc. $CSGP

Key Points

• Truist Financial Corp reduced its stake in CoStar Group by 10.7%, selling 14,167 shares and now holds 117,688 shares valued at approximately $9.46 million.
• CoStar Group reported Q2 earnings of $0.17 per share, surpassing estimates, with revenue of $781.3 million, which is a 15.2% year-over-year increase.
• Analysts have a consensus rating of "Moderate Buy" for CoStar Group, with a target price of $94.15, reflecting positive growth expectations.

Truist Financial Corp trimmed its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 10.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,688 shares of the technology company's stock after selling 14,167 shares during the quarter. Truist Financial Corp's holdings in CoStar Group were worth $9,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its position in shares of CoStar Group by 42.4% during the first quarter. Farther Finance Advisors LLC now owns 1,210 shares of the technology company's stock worth $96,000 after acquiring an additional 360 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new position in shares of CoStar Group during the first quarter worth about $221,000. Generate Investment Management Ltd bought a new position in shares of CoStar Group during the second quarter worth about $6,306,000. PFG Investments LLC bought a new position in shares of CoStar Group during the first quarter worth about $234,000. Finally, Golden State Wealth Management LLC raised its position in shares of 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 worth $268,000 after acquiring an additional 200 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Stock Up 1.1%

Shares of NASDAQ:CSGP opened at $84.80 on Monday. The stock has a market cap of $35.93 billion, a price-to-earnings ratio of 339.20, a PEG ratio of 3.90 and a beta of 0.87. The company has a quick ratio of 5.83, a current ratio of 5.83 and a debt-to-equity ratio of 0.12. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $97.43. The business's 50 day moving average is $89.20 and its 200 day moving average is $82.88.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. The company 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 previous year, the firm earned $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. On average, sell-side analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 2,033 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $2,392,837.35. The trade was a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Frederick G. Saint sold 25,000 shares of the business's stock in a transaction on 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 transaction, the insider directly owned 319,539 shares in the company, valued at approximately $29,790,620.97. This represents a 7.26% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 52,033 shares of company stock worth $4,777,764. Insiders own 1.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised their price objective on CoStar Group from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Royal Bank Of Canada lifted their target price on CoStar Group from $83.00 to $91.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 23rd. BMO Capital Markets lifted their target price on CoStar Group from $82.00 to $89.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. Wells Fargo & Company reiterated an "underweight" rating and issued a $70.00 target price (up from $65.00) on shares of CoStar Group in a report on Wednesday, July 16th. Finally, BTIG Research assumed coverage on CoStar Group in a report on Friday. They issued a "neutral" rating for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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