5,394,164 Shares in CoStar Group, Inc. $CSGP Bought by Meritage Group LP

Key Points

• Meritage Group LP acquired 5.39 million CoStar Group shares worth approximately $152.8 million, representing about 1.33% of CoStar and 5.9% of Meritage’s portfolio. Institutional investors and hedge funds collectively own 96.6% of the stock.
• CoStar’s CEO Andrew Florance purchased 83,300 shares, while the company’s chief accounting officer sold 4,788 shares. Corporate insiders own approximately 1.18% of the company.
• Analyst sentiment is mixed, with a consensus rating of Hold and a $41.61 target price. CoStar recently beat quarterly EPS estimates and reported 18.4% year-over-year revenue growth, while shares opened at $32.26.

Meritage Group LP bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,394,164 shares of the technology company's stock, valued at approximately $152,763,000. CoStar Group comprises approximately 5.9% of Meritage Group LP's holdings, making the stock its 10th biggest holding. Meritage Group LP owned approximately 1.33% of CoStar Group at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. OMERS ADMINISTRATION Corp acquired a new position in shares of CoStar Group during the 2nd quarter worth about $5,887,000. Sanctuary Advisors LLC purchased a new stake in shares of CoStar Group during the 2nd quarter worth approximately $1,021,000. Barbara Oil Co. acquired a new position in shares of CoStar Group in the 2nd quarter valued at $948,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of CoStar Group in the 2nd quarter valued at $33,126,000. Finally, Bank of Nova Scotia purchased a new position in shares of CoStar Group in the 2nd quarter valued at $2,653,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CoStar Group

In related news, CEO Andrew C. Florance purchased 83,300 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were purchased at an average price of $29.89 per share, with a total value of $2,489,837.00. Following the completion of the acquisition, the chief executive officer directly owned 1,806,165 shares in the company, valued at $53,986,271.85. This represents a 4.83% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Cynthia Cammett Cann sold 4,788 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $30.78, for a total value of $147,374.64. Following the completion of the transaction, the chief accounting officer owned 18,822 shares in the company, valued at $579,341.16. This trade represents a 20.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CSGP has been the subject of a number of research reports. The Goldman Sachs Group reissued a "buy" rating and issued a $40.00 price target on shares of CoStar Group in a research report on Wednesday, July 29th. William Blair lowered CoStar Group from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 29th. Wall Street Zen cut CoStar Group from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Weiss Ratings reiterated a "sell (d)" rating on shares of CoStar Group in a research report on Wednesday, June 24th. Finally, Robert W. Baird set a $34.00 target price on CoStar Group and gave the company a "neutral" rating in a report on Tuesday, July 14th. Nine equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $41.61.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $32.26 on Monday. The firm's fifty day simple moving average is $29.96 and its 200-day simple moving average is $36.53. CoStar Group, Inc. has a 12 month low of $25.89 and a 12 month high of $91.89. The stock has a market capitalization of $13.07 billion, a price-to-earnings ratio of 169.80, a PEG ratio of 0.85 and a beta of 0.72. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.21 and a quick ratio of 2.21.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings results 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. CoStar Group had a net margin of 2.08% and a return on equity of 3.74%. The firm had revenue of $925.00 million during the quarter, compared to analysts' expectations of $928.81 million. During the same quarter in the prior year, the business earned $0.17 EPS. CoStar Group's quarterly revenue was up 18.4% compared to the same quarter last year. 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. As a group, equities analysts forecast that CoStar Group, Inc. will post 1.06 earnings per share for the current year.

CoStar Group Company Profile

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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