ANDREW C FLORANCE, the President and CEO of Costar Group ($CSGP), bought 14,731 shares of the company on 10-25-2024. We received data on the trade from a recent SEC filing. This increased their holdings by approximately 1.2%. Following this trade, they now own 1,263,098 shares of Costar Group stock.
Costar Group Insider Trading Activity
Costar Group insiders have traded $CSGP stock on the open market 4 times in the past 6 months. Of those trades, 1 have been purchases and 3 have been sales.
Here’s a breakdown of recent trading of $CSGP stock by insiders over the last 6 months:
- ANDREW C FLORANCE (President and CEO) purchased 14,731 shares.
- JOHN W HILL sold 1,325 shares.
- FREDERICK G. SAINT (President, Marketplaces) sold 2,500 shares.
- LISA RUGGLES (Senior VP, Global Operations) sold 20,000 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
Costar Group Hedge Fund Activity
We have seen 393 institutional investors add shares of Costar Group stock to their portfolio, and 358 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- SANDS CAPITAL MANAGEMENT, LLC removed 5,370,084 shares (-99.9%) from their portfolio in Q2 2024
- WELLINGTON MANAGEMENT GROUP LLP removed 2,635,204 shares (-81.4%) from their portfolio in Q2 2024
- FARALLON CAPITAL MANAGEMENT LLC removed 2,594,356 shares (-100.0%) from their portfolio in Q2 2024
- VULCAN VALUE PARTNERS, LLC added 1,961,917 shares (+90.1%) to their portfolio in Q2 2024
- AKRE CAPITAL MANAGEMENT LLC added 1,508,797 shares (+20.8%) to their portfolio in Q2 2024
- FAYEZ SAROFIM & CO added 1,407,801 shares (+inf%) to their portfolio in Q2 2024
- AMERICAN CENTURY COMPANIES INC removed 912,955 shares (-45.3%) from their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Should I Buy $CSGP Stock?
The bull case for CoStar Group ($CSGP) centers on its strong financial performance, highlighted by a solid year-over-year revenue growth of 12.2% and a positive outlook for 2024, projecting an increase of 11-12% excluding residential segments. The company's multi-family and LoopNet segments are performing exceptionally well, with respective growth rates of 24.2% and 14.6%, showcasing robust demand and successful international expansion. Improvements in client retention and sustained growth across various services reinforce the belief in CoStar's long-term viability and ability to weather economic challenges. Conversely, the bear case raises concerns about the company's recent revenue guidance revision from 13% to 12% due to a staggering 47% decline in residential revenue following its strategic exit from non-core areas. The 14% drop in net new bookings and a cautious projection for Q4 signal potential headwinds exacerbated by elevated interest rates and economic uncertainty, suggesting that growth may bottom out at 7%-8% in early 2024 and indicating vulnerabilities in CoStar's overall business model.
Background on $CSGP Stock
CoStar Group, Inc. (CSGP) is a leading provider of commercial real estate information, analytics, and online marketplaces. The company offers a comprehensive suite of services that includes real-time data on property listings, market trends, and demographic information, which helps real estate professionals make informed decisions. CoStar's offerings cater to a wide range of clients, including commercial real estate brokers, property managers, investors, and developers, providing them with tools to analyze potential investments, manage properties, and optimize their portfolios. Additionally, CoStar operates several platforms, including Apartments.com and LoopNet, which facilitate leasing and sales transactions in the commercial and residential real estate sectors. Through its robust data-driven solutions, CoStar Group plays a critical role in enhancing transparency and efficiency in the real estate market.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
