CoStar Group, Inc. $CSGP Holdings Trimmed by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP has reduced its stake in CoStar Group, Inc. by 23.5%, leaving it with 93,434 shares valued at approximately $7.4 million.
• CoStar Group reported an earnings per share (EPS) of $0.17 for the latest quarter, surpassing analysts' expectations of $0.14, and showed a year-over-year revenue growth of 15.2%.
• Analyst ratings on CoStar Group reflect a moderate buy sentiment, with price target adjustments ranging from $70.00 to $105.00 by various firms in recent reports.

Wellington Management Group LLP cut its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 23.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,434 shares of the technology company's stock after selling 28,681 shares during the quarter. Wellington Management Group LLP's holdings in CoStar Group were worth $7,403,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CSGP. Integrated Wealth Concepts LLC bought a new position in CoStar Group during the fourth quarter worth $312,000. Susquehanna Fundamental Investments LLC bought a new position in CoStar Group during the fourth quarter worth $1,589,000. Northern Trust Corp lifted its stake in CoStar Group by 21.2% during the fourth quarter. Northern Trust Corp now owns 3,993,324 shares of the technology company's stock worth $285,882,000 after purchasing an additional 697,721 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in CoStar Group by 1,451.8% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 153,429 shares of the technology company's stock worth $10,984,000 after purchasing an additional 143,542 shares during the last quarter. Finally, Davidson Kahn Capital Management LLC bought a new position in CoStar Group during the fourth quarter worth $2,399,000. 96.60% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Frederick G. Saint sold 25,000 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $93.23, for a total transaction 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. This trade represents a 7.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the firm's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $92.85, for a total value of $188,764.05. Following the transaction, the chief accounting officer directly owned 25,771 shares of the company's stock, valued at $2,392,837.35. This represents a 7.31% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.09% of the company's stock.

Wall Street Analyst Weigh In

CSGP has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their target price 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 increased their target price on CoStar Group from $83.00 to $91.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company reaffirmed an "underweight" rating and issued a $70.00 target price (up from $65.00) on shares of CoStar Group in a research report on Wednesday, July 16th. William Blair reaffirmed an "outperform" rating on shares of CoStar Group in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. increased their target price on CoStar Group from $87.00 to $101.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $93.25.

CoStar Group Stock Performance

Shares of CSGP traded down $0.84 during trading hours on Monday, reaching $89.49. 1,974,735 shares of the company's stock traded hands, compared to its average volume of 2,693,874. The firm has a market capitalization of $37.91 billion, a price-to-earnings ratio of 357.96, a P/E/G ratio of 4.36 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, Inc. has a twelve month low of $68.26 and a twelve month high of $97.43. The business's fifty day simple moving average is $87.98 and its two-hundred day simple moving average is $81.23.

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 analysts' consensus estimates of $0.14 by $0.03. The company had revenue of $781.30 million for 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%.The company's quarterly revenue was up 15.2% compared to the same quarter last year. During the same period last year, the company 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. Analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

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.