Assenagon Asset Management S.A. Acquires New Shares in CoStar Group, Inc. $CSGP

Key Points

• Assenagon Asset Management acquired 151,902 CoStar Group shares during the third quarter, valued at approximately $4.16 million. Institutional investors and hedge funds collectively own 96.6% of the company.
• Insider activity was mixed: CEO Andrew Florance purchased 83,300 shares worth about $2.49 million, while Chief Accounting Officer Cynthia Cammett Cann sold 4,788 shares. Insiders own approximately 1.18% of CoStar Group.
• Analyst sentiment is balanced, with nine Buy, nine Hold, and two Sell ratings, producing an average “Hold” rating and a $40.11 price target. CoStar’s latest quarterly results exceeded EPS expectations, while revenue rose 18.4% year over year.

Assenagon Asset Management S.A. acquired a new stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 151,902 shares of the technology company's stock, valued at approximately $4,162,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CSGP. Red Spruce Capital LLC lifted its holdings in shares of CoStar Group by 101.0% in the second quarter. Red Spruce Capital LLC now owns 76,448 shares of the technology company's stock valued at $2,165,000 after purchasing an additional 38,413 shares in the last quarter. Tidal Investments LLC grew its position in shares of CoStar Group by 176.9% in the second quarter. Tidal Investments LLC now owns 68,552 shares of the technology company's stock valued at $1,941,000 after purchasing an additional 43,798 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of CoStar Group during the 2nd quarter worth approximately $7,516,000. Nykredit A S purchased a new position in shares of CoStar Group during the 2nd quarter worth approximately $11,370,000. Finally, Odyssean LLC purchased a new position in shares of CoStar Group during the 2nd quarter worth approximately $2,564,000. 96.60% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Cynthia Cammett Cann sold 4,788 shares of the company's stock in a transaction on 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 sale, the chief accounting officer directly owned 18,822 shares in the company, valued at $579,341.16. This represents a 20.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Andrew C. Florance acquired 83,300 shares of the company's stock in a transaction dated 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 owned 1,806,165 shares in the company, valued at approximately $53,986,271.85. The trade was a 4.83% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.18% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on CSGP. Wells Fargo & Company set a $26.00 target price on CoStar Group and gave the company an "underweight" rating in a research note on Wednesday, June 24th. Royal Bank Of Canada set a $34.00 price target on CoStar Group and gave the stock a "sector perform" rating in a research report on Monday, July 13th. Citizens Jmp dropped their price target on CoStar Group from $44.00 to $35.00 and set a "market outperform" rating for the company in a research report on Wednesday, July 29th. William Blair cut CoStar Group from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 29th. Finally, Needham & Company LLC restated a "buy" rating and issued a $40.00 price objective on shares of CoStar Group in a research report on Tuesday, October 6th. 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. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $40.11.

CoStar Group Stock Performance

Shares of CSGP opened at $33.05 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.21 and a current ratio of 2.21. The company has a market capitalization of $13.39 billion, a price-to-earnings ratio of 42.41, a PEG ratio of 0.80 and a beta of 0.80. The company's 50 day simple moving average is $30.36 and its 200 day simple moving average is $31.87. CoStar Group, Inc. has a 1 year low of $25.89 and a 1 year high of $79.08.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its earnings results on Tuesday, July 28th. The technology company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. The firm had revenue of $925.00 million during the quarter, compared to analysts' expectations of $928.81 million. CoStar Group had a net margin of 2.08% and a return on equity of 3.74%. CoStar Group's revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.17 EPS. 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. On average, sell-side analysts predict that CoStar Group, Inc. will post 1.07 EPS for the current year.

CoStar Group Profile

CoStar Group, Inc is a provider of information, analytics, and online marketplaces for the commercial and residential real estate industries. The company collects, analyzes, and distributes property and market data to real estate professionals, investors, lenders, and other businesses.

Its brands and services include CoStar, which offers commercial real estate data and research; LoopNet, a marketplace for commercial property listings; Apartments.com, a rental housing marketplace; and Homes.com, a residential real estate platform.

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