Twin Tree Management LP Makes New $7.67 Million Investment in CoStar Group, Inc. $CSGP

Key Points

• Twin Tree Management LP acquired a new stake in CoStar Group, Inc. by purchasing 96,784 shares valued at approximately $7.67 million during the first quarter.
• Insider Frederick G. Saint sold 25,000 shares of CoStar Group stock, reducing his position by 7.26%, indicating potential confidence changes among executives.
• Wall Street analysts have mostly rated CoStar Group positively, with 11 analysts giving a Buy rating and a price target averaging $93.25, reflecting positive sentiment on the company’s future performance.

Twin Tree Management LP bought a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 96,784 shares of the technology company's stock, valued at approximately $7,668,000.

A number of other institutional investors have also added to or reduced their stakes in CSGP. Mizuho Markets Americas LLC bought a new stake in CoStar Group in the 1st quarter worth about $586,403,000. Vanguard Group Inc. grew its position in shares of CoStar Group by 4.1% during 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 acquiring an additional 2,709,320 shares during the period. Nuveen LLC bought a new position in shares of CoStar Group during the 1st quarter valued at approximately $82,756,000. Kensico Capital Management Corp bought a new position in shares of CoStar Group during the 4th quarter valued at approximately $51,244,000. Finally, Royal Bank of Canada boosted its holdings 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 worth $103,981,000 after buying an additional 677,222 shares during the period. 96.60% of the stock is owned by institutional investors.

CoStar Group Trading Up 1.4%

CoStar Group stock traded up $1.26 during trading hours on Thursday, reaching $89.12. The stock had a trading volume of 716,949 shares, compared to its average volume of 3,123,909. The stock has a market cap of $37.76 billion, a PE ratio of 356.48, a PEG ratio of 4.36 and a beta of 0.87. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $97.43. 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 company has a fifty day simple moving average of $88.45 and a 200-day simple moving average of $81.43.

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

Insider Transactions at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 2,033 shares of CoStar Group stock in a transaction dated 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 transaction, the chief accounting officer directly owned 25,771 shares of the company's stock, valued at $2,392,837.35. This trade represents a 7.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Frederick G. Saint sold 25,000 shares of CoStar Group stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $90.33, for a total transaction of $2,258,250.00. Following the transaction, the insider directly owned 293,103 shares of the company's stock, valued at approximately $26,475,993.99. This trade represents a 7.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,033 shares of company stock worth $4,777,764 in the last ninety days. Insiders own 1.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on CoStar Group from $87.00 to $101.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada upped their target price on CoStar Group from $83.00 to $91.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 23rd. BMO Capital Markets lifted their price target on CoStar Group from $82.00 to $89.00 and gave the company a "market perform" rating in a research 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 on the stock. Finally, Needham & Company LLC upped their price objective on shares of CoStar Group from $98.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average 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.