Trust Point Inc. Decreases Position in CoStar Group, Inc. $CSGP

Key Points

• Trust Point Inc. sold 2,982 shares of CoStar Group, decreasing its holdings by 28.6%, now owning 7,453 shares worth $599,000.
• Institutional investors and hedge funds control 96.60% of CoStar Group's stock, with several firms recently modifying their positions.
• The company's stock has an average rating of "Moderate Buy" from analysts, with a consensus price target of $94.15.

Trust Point Inc. trimmed its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 28.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,453 shares of the technology company's stock after selling 2,982 shares during the quarter. Trust Point Inc.'s holdings in CoStar Group were worth $599,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CSGP. Wayfinding Financial LLC bought a new position in shares of CoStar Group during the first quarter worth about $29,000. Bayforest Capital Ltd bought a new stake in CoStar Group in the first quarter worth approximately $29,000. GKV Capital Management Co. Inc. acquired a new stake in CoStar Group in the first quarter valued at approximately $31,000. Zions Bancorporation National Association UT acquired a new stake in CoStar Group in the first quarter valued at approximately $31,000. Finally, Cullen Frost Bankers Inc. grew its stake in CoStar Group by 137.4% in the first quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock valued at $32,000 after acquiring an additional 235 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CSGP shares. Royal Bank Of Canada lifted their target price on CoStar Group from $83.00 to $91.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. Robert W. Baird boosted their target price on CoStar Group from $100.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Wolfe Research assumed coverage on CoStar Group in a research note on Wednesday, September 3rd. They set an "outperform" rating and a $105.00 price objective on the stock. Wells Fargo & Company reiterated an "underweight" rating and set a $70.00 price objective (up from $65.00) on shares of CoStar Group in a research note on Wednesday, July 16th. Finally, Citigroup boosted their target price on CoStar Group from $91.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $94.15.

CoStar Group Trading Down 1.0%

Shares of NASDAQ:CSGP traded down $0.84 during trading hours on Monday, hitting $86.27. 1,388,508 shares of the company's stock traded hands, compared to its average volume of 3,095,935. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $97.43. The business has a fifty day moving average price of $89.76 and a 200-day moving average price of $82.46. The firm has a market capitalization of $36.55 billion, a P/E ratio of 345.32, a price-to-earnings-growth ratio of 4.01 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 (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. The firm had revenue of $781.30 million during the quarter, compared to analyst estimates 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 business 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. Equities analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

Insider Buying and Selling at CoStar Group

In other news, insider Frederick G. Saint sold 25,000 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $93.23, for a total transaction of $2,330,750.00. Following the sale, the insider directly owned 319,539 shares of the company's stock, valued at $29,790,620.97. This represents a 7.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $92.85, for a total transaction of $188,764.05. Following the sale, the chief accounting officer directly owned 25,771 shares in the company, valued at approximately $2,392,837.35. The trade was a 7.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,033 shares of company stock worth $4,777,764. 1.09% of the stock is owned by insiders.

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.