Parallel Advisors LLC Boosts Position in CoStar Group, Inc. $CSGP

Parallel Advisors LLC lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,456 shares of the technology company’s stock after acquiring an additional 285 shares during the period. Parallel Advisors LLC’s holdings in CoStar Group were worth $519,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of CSGP. Wayfinding Financial LLC purchased a new position in shares of CoStar Group during the 1st quarter worth $29,000. Bayforest Capital Ltd purchased a new position in shares of CoStar Group during the 1st quarter worth $29,000. GKV Capital Management Co. Inc. purchased a new position in shares of CoStar Group during the 1st quarter worth $31,000. Zions Bancorporation National Association UT purchased a new position in shares of CoStar Group during the 1st quarter worth $31,000. Finally, Cullen Frost Bankers Inc. raised its holdings in shares of CoStar Group by 137.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company’s stock worth $32,000 after acquiring an additional 235 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insiders Place Their Bets

In other CoStar Group news, insider Frederick G. Saint sold 25,000 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $90.33, for a total value of $2,258,250.00. Following the completion of the sale, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the firm’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $92.85, for a total value of $188,764.05. Following the completion of the sale, the chief accounting officer directly owned 25,771 shares of the company’s stock, valued at approximately $2,392,837.35. This trade represents a 7.31% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 52,033 shares of company stock valued at $4,777,764. 1.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on CSGP. JPMorgan Chase & Co. lifted their price target on CoStar Group from $87.00 to $101.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Robert W. Baird boosted their price objective on shares of CoStar Group from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, July 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of CoStar Group from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, July 17th. Wolfe Research assumed coverage on shares of CoStar Group in a report on Wednesday, September 3rd. They issued an “outperform” rating and a $105.00 price objective on the stock. Finally, Needham & Company LLC boosted their price objective on shares of CoStar Group from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.15.

CoStar Group Stock Down 2.4%

CSGP stock opened at $87.10 on Friday. The firm has a market capitalization of $36.90 billion, a price-to-earnings ratio of 348.40, a PEG ratio of 4.11 and a beta of 0.87. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $97.43. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.83 and a current ratio of 5.83. The company’s 50 day moving average price is $89.76 and its 200 day moving average price is $82.39.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 EPS for the quarter, beating the consensus estimate 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 net margin of 3.57% and a return on equity of 2.88%. The firm’s revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the firm posted $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. On average, equities research analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal 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.