United Services Automobile Association Buys New Shares in CoStar Group, Inc. $CSGP

Key Points

• United Services Automobile Association has made a new investment in CoStar Group, acquiring 9,336 shares valued at approximately $740,000 during the first quarter.
• CoStar Group reported an earnings per share of $0.17 for the last quarter, surpassing analysts' expectations and marking a 15.2% increase in revenue year-over-year.
• Major analysts have issued positive ratings for CoStar Group, with several projecting a price target of up to $105.00 per share, signaling strong growth potential.

United Services Automobile Association purchased a new stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,336 shares of the technology company's stock, valued at approximately $740,000.

A number of other institutional investors have also recently modified their holdings of CSGP. Mizuho Markets Americas LLC purchased a new stake in shares of CoStar Group in the first quarter valued at approximately $586,403,000. Vanguard Group Inc. boosted its stake in shares of CoStar Group by 4.1% in the first quarter. Vanguard Group Inc. now owns 68,426,711 shares of the technology company's stock valued at $5,421,448,000 after buying an additional 2,709,320 shares in the last quarter. Third Point LLC purchased a new stake in shares of CoStar Group in the first quarter valued at approximately $156,479,000. Nuveen LLC purchased a new stake in shares of CoStar Group in the first quarter valued at approximately $82,756,000. Finally, Royal Bank of Canada boosted its stake in shares of CoStar Group by 87.4% in the fourth quarter. Royal Bank of Canada now owns 1,452,442 shares of the technology company's stock valued at $103,981,000 after buying an additional 677,222 shares in the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on CoStar Group from $87.00 to $101.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods lifted their price objective on CoStar Group from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. William Blair reaffirmed an "outperform" rating on shares of CoStar Group in a report on Wednesday, July 23rd. Citigroup lifted their price objective on CoStar Group from $91.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Stephens raised CoStar Group to a "strong-buy" rating and set a $105.00 price objective for the company in a report on Monday, June 16th. One investment 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 given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $94.15.

Insiders Place Their Bets

In other 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 completion of the transaction, the chief accounting officer directly owned 25,771 shares of the company's stock, valued at $2,392,837.35. The trade was a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Frederick G. Saint sold 25,000 shares of the company's stock in a transaction on Monday, July 28th. The shares were 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 owned 319,539 shares of the company's stock, valued at $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. Over the last three months, insiders sold 52,033 shares of company stock valued at $4,777,764. Insiders own 1.09% of the company's stock.

CoStar Group Price Performance

Shares of NASDAQ CSGP traded down $0.26 during trading on Friday, reaching $86.80. The company had a trading volume of 1,261,360 shares, compared to its average volume of 2,126,747. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $97.43. The stock has a market capitalization of $36.77 billion, a PE ratio of 347.20, a price-to-earnings-growth ratio of 4.00 and a beta of 0.87. The stock has a 50-day moving average price of $89.34 and a two-hundred day moving average price of $82.04. The company has a current ratio of 5.83, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%.The company had revenue of $781.30 million during the quarter, compared to analysts' expectations of $772.06 million. During the same period in the previous year, the firm posted $0.15 earnings per share. The business's revenue for the quarter was up 15.2% compared to the same quarter last year. CoStar Group has set its FY 2025 guidance at 0.780-0.800 EPS. Q3 2025 guidance at 0.150-0.17 EPS. As a group, sell-side analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

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.