Bank Julius Baer & Co. Ltd Zurich Cuts Stock Position in CoStar Group, Inc. $CSGP

Key Points

• Bank Julius Baer sharply reduced its CoStar Group position by 98.8% in the fourth quarter, leaving it with just 880 shares worth about $59,000.
• Despite that sale, CoStar still has heavy institutional backing, with hedge funds and other institutions owning 96.6% of the stock. Several large investors, including Vanguard and State Street, increased their stakes.
• CoStar reported better-than-expected quarterly earnings of $0.23 per share and revenue of $897 million, while analysts currently rate the stock Moderate Buy with a consensus price target of $58.12.

Bank Julius Baer & Co. Ltd Zurich lessened its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 98.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 880 shares of the technology company's stock after selling 72,030 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in CoStar Group were worth $59,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of CoStar Group by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 70,056,441 shares of the technology company's stock valued at $5,910,662,000 after buying an additional 1,208,958 shares during the period. State Street Corp raised its holdings in shares of CoStar Group by 3.1% in the 3rd quarter. State Street Corp now owns 18,284,128 shares of the technology company's stock valued at $1,542,632,000 after buying an additional 551,160 shares during the period. Baillie Gifford & Co. raised its holdings in shares of CoStar Group by 56.9% in the 4th quarter. Baillie Gifford & Co. now owns 12,933,185 shares of the technology company's stock valued at $869,627,000 after buying an additional 4,691,543 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of CoStar Group by 12.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,406,788 shares of the technology company's stock valued at $624,911,000 after buying an additional 821,111 shares during the period. Finally, Capital Research Global Investors grew its stake in CoStar Group by 27.0% during the 3rd quarter. Capital Research Global Investors now owns 4,993,854 shares of the technology company's stock worth $421,330,000 after purchasing an additional 1,062,452 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

Analyst Upgrades and Downgrades

CSGP has been the subject of several analyst reports. Citigroup lowered their target price on CoStar Group from $100.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft set a $44.00 target price on CoStar Group in a research note on Thursday, April 30th. Jefferies Financial Group raised CoStar Group from a "hold" rating to a "buy" rating and set a $67.00 target price for the company in a research note on Friday, February 20th. JPMorgan Chase & Co. lowered their target price on CoStar Group from $82.00 to $70.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. Finally, Needham & Company LLC lowered their target price on CoStar Group from $60.00 to $50.00 and set a "buy" rating for the company in a research note on Wednesday, April 29th. Twelve research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, CoStar Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.12.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $32.68 on Monday. The stock has a 50-day simple moving average of $39.35 and a 200-day simple moving average of $54.06. The stock has a market cap of $13.35 billion, a P/E ratio of 544.76, a P/E/G ratio of 0.84 and a beta of 0.75. CoStar Group, Inc. has a 1 year low of $31.35 and a 1 year high of $97.43. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.20 and a current ratio of 2.20.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. The business had revenue of $897.00 million during the quarter, compared to analysts' expectations of $896.73 million. CoStar Group had a return on equity of 2.90% and a net margin of 0.74%.The business's quarterly revenue was up 22.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) EPS. CoStar Group has set its Q2 2026 guidance at 0.270-0.300 EPS and its FY 2026 guidance at 1.320-1.390 EPS. As a group, analysts anticipate that CoStar Group, Inc. will post 1.03 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Louise S. Sams bought 1,000 shares of the firm's stock in a transaction that occurred on Friday, March 6th. The stock was purchased at an average cost of $48.36 per share, with a total value of $48,360.00. Following the transaction, the director directly owned 20,409 shares in the company, valued at $986,979.24. This trade represents a 5.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew C. Florance bought 71,430 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The stock was purchased at an average cost of $35.20 per share, with a total value of $2,514,336.00. Following the completion of the transaction, the chief executive officer owned 1,722,865 shares in the company, valued at approximately $60,644,848. This trade represents a 4.33% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.09% of the company's stock.

CoStar Group 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.