117,069 Shares in CoStar Group, Inc. $CSGP Acquired by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio acquired 117,069 CoStar Group shares worth approximately $3.3 million, while institutional investors collectively own 96.6% of the stock.
• CoStar Group reported quarterly earnings of $0.32 per share, beating estimates by $0.03, while revenue rose 18.4% year over year to $925 million. CEO Andrew Florance also purchased 83,300 shares, although the company’s chief accounting officer sold 4,788 shares.
• Shares opened at $30.91 after declining 2.4%; analysts maintain a consensus “Hold” rating with an average price target of $40.11.

Public Employees Retirement System of Ohio acquired a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 117,069 shares of the technology company's stock, valued at approximately $3,315,000.

Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of CoStar Group during the 2nd quarter worth $957,612,000. Bamco Inc. NY purchased a new stake in shares of CoStar Group in the second quarter valued at about $612,470,000. State Street Corp increased its position in CoStar Group by 1.9% during the fourth quarter. State Street Corp now owns 18,632,352 shares of the technology company's stock worth $1,252,839,000 after purchasing an additional 348,224 shares during the last quarter. Principal Financial Group Inc. increased its position in CoStar Group by 0.7% during the first quarter. Principal Financial Group Inc. now owns 17,696,192 shares of the technology company's stock worth $713,866,000 after purchasing an additional 130,118 shares during the last quarter. Finally, Capital International Investors raised its stake in CoStar Group by 59.7% during the fourth quarter. Capital International Investors now owns 10,842,010 shares of the technology company's stock worth $729,020,000 after purchasing an additional 4,053,456 shares during the period. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Cynthia Cammett Cann sold 4,788 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $30.78, for a total transaction of $147,374.64. Following the completion of the transaction, the chief accounting officer directly owned 18,822 shares of the company's stock, valued at approximately $579,341.16. The trade was a 20.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew C. Florance acquired 83,300 shares of the stock in a transaction dated Tuesday, August 4th. The shares were bought at an average cost of $29.89 per share, with a total value of $2,489,837.00. Following the completion of the transaction, the chief executive officer owned 1,806,165 shares of the company's stock, valued at approximately $53,986,271.85. This represents a 4.83% increase in their position. The SEC filing for this purchase provides additional information. 1.18% of the stock is owned by corporate insiders.

CoStar Group Trading Down 2.4%

NASDAQ CSGP opened at $30.91 on Friday. The firm has a 50 day simple moving average of $30.29 and a 200-day simple moving average of $35.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.21 and a current ratio of 2.21. CoStar Group, Inc. has a one year low of $25.89 and a one year high of $91.89. The firm has a market cap of $12.52 billion, a price-to-earnings ratio of 162.69, a PEG ratio of 0.81 and a beta of 0.75.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The technology company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. The business had revenue of $925.00 million for the quarter, compared to analyst estimates of $928.81 million. CoStar Group had a return on equity of 3.74% and a net margin of 2.08%.The company's revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 earnings per share. CoStar Group has set its Q3 2026 guidance at 0.310-0.340 EPS and its FY 2026 guidance at 1.320-1.390 EPS. Equities research analysts anticipate that CoStar Group, Inc. will post 1.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on CSGP. Weiss Ratings reiterated a "sell (d)" rating on shares of CoStar Group in a report on Wednesday, June 24th. Bank of America cut their price target on shares of CoStar Group from $42.00 to $37.00 and set a "neutral" rating for the company in a report on Tuesday, May 19th. Royal Bank Of Canada set a $34.00 price target on shares of CoStar Group and gave the company a "sector perform" rating in a research report on Monday, July 13th. Keefe, Bruyette & Woods lowered CoStar Group from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $41.00 to $29.00 in a research report on Wednesday, July 29th. Finally, BMO Capital Markets reissued a "market perform" rating and set a $33.00 target price (up from $31.00) on shares of CoStar Group in a research note on Monday, August 24th. Nine research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $40.11.

About CoStar Group

CoStar Group, Inc is a provider of information, analytics and online marketplaces for the commercial real estate industry. The company gathers property-level data, builds market analytics and supplies research tools used by brokers, owners, lenders, investors and other real estate professionals to evaluate markets, track inventory and manage listings. CoStar's offerings are delivered primarily through subscription-based platforms that combine proprietary databases, mapping and workflow applications to support decision-making across the property life cycle.

In addition to its core CoStar research service, the company operates prominent online listing and marketing platforms that connect buyers, sellers, tenants and brokers.

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