CoStar Group, Inc. $CSGP Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in CoStar Group, Inc. (NASDAQ:CSGP) by 31.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 326,649 shares of the technology company’s stock after selling 149,596 shares during the period. Allspring Global Investments Holdings LLC’s holdings in CoStar Group were worth $26,756,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CSGP. Mizuho Markets Americas LLC acquired a new position in shares of CoStar Group in the first quarter worth about $586,403,000. Vanguard Group Inc. raised its position 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 worth $5,421,448,000 after acquiring an additional 2,709,320 shares during the period. Third Point LLC acquired a new position in shares of CoStar Group in the first quarter worth about $156,479,000. Nuveen LLC acquired a new position in shares of CoStar Group in the first quarter worth about $82,756,000. Finally, Kensico Capital Management Corp raised its position in shares of CoStar Group by 86.0% in the first quarter. Kensico Capital Management Corp now owns 1,331,300 shares of the technology company’s stock worth $105,479,000 after acquiring an additional 615,500 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insider Activity

In related news, CAO Cynthia Cammett Cann sold 2,033 shares of the company’s 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 sale, the chief accounting officer owned 25,771 shares of the company’s stock, valued at approximately $2,392,837.35. This represents a 7.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frederick G. Saint sold 25,000 shares of the stock in a transaction that occurred on 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 completion of the sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,033 shares of company stock valued at $4,777,764. 1.09% of the stock is owned by corporate insiders.

CoStar Group Stock Down 1.1%

Shares of NASDAQ CSGP opened at $74.35 on Friday. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $97.43. The stock has a market cap of $31.50 billion, a PE ratio of 297.40, a P/E/G ratio of 3.46 and a beta of 0.87. The company has a current ratio of 5.83, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average of $85.89 and a 200 day moving average of $82.67.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data 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. CoStar Group had a net margin of 3.57% and a return on equity of 2.88%. The company had revenue of $781.30 million during the quarter, compared to analysts’ expectations of $772.06 million. During the same quarter in the prior year, the company earned $0.15 EPS. CoStar Group’s revenue 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 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CSGP shares. Citigroup raised their price target on shares of CoStar Group from $91.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. increased their target price on CoStar Group from $87.00 to $101.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Robert W. Baird increased their target price on CoStar Group from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, July 23rd. William Blair reissued an “outperform” rating on shares of CoStar Group in a report on Wednesday, July 23rd. Finally, Keefe, Bruyette & Woods increased their target price on CoStar Group from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, twelve have issued 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, CoStar Group presently has an average rating of “Moderate Buy” and a consensus price target of $94.15.

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.