Bank of New York Mellon Corp Makes New $56.79 Million Investment in CoStar Group, Inc. $CSGP

Bank of New York Mellon Corp bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,005,395 shares of the technology company's stock, valued at approximately $56,793,000. Bank of New York Mellon Corp owned about 0.49% of CoStar Group at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Reflection Asset Management acquired a new position in CoStar Group in the fourth quarter valued at approximately $27,000. Lloyd Advisory Services LLC. acquired a new stake in CoStar Group during the fourth quarter worth $29,000. DV Equities LLC acquired a new stake in CoStar Group during the fourth quarter worth $40,000. IFP Advisors Inc raised its position in CoStar Group by 329.4% in the fourth quarter. IFP Advisors Inc now owns 614 shares of the technology company's stock valued at $41,000 after purchasing an additional 471 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its position in CoStar Group by 25,650.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 515 shares of the technology company's stock valued at $43,000 after purchasing an additional 513 shares during the period. Hedge funds and other institutional investors own 96.60% of the company's stock.

Analyst Upgrades and Downgrades

CSGP has been the subject of a number of research analyst reports. Wells Fargo & Company set a $26.00 price target on CoStar Group and gave the stock an "underweight" rating in a report on Wednesday, June 24th. JPMorgan Chase & Co. reduced their price objective on shares of CoStar Group from $58.00 to $52.00 and set an "overweight" rating on the stock in a report on Wednesday, July 29th. Stephens decreased their target price on shares of CoStar Group from $50.00 to $42.00 and set an "overweight" rating on the stock in a research report on Monday, May 4th. BMO Capital Markets reaffirmed 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. Finally, Citizens Jmp dropped their price target on shares of 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. Nine analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $40.11.

CoStar Group Stock Performance

Shares of CSGP stock opened at $32.14 on Thursday. The firm has a 50 day moving average of $30.03 and a two-hundred day moving average of $36.13. The stock has a market capitalization of $13.02 billion, a PE ratio of 169.17, a P/E/G ratio of 0.86 and a beta of 0.72. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 52 week low of $25.89 and a 52 week high of $91.89.

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. On average, research analysts predict that CoStar Group, Inc. will post 1.06 EPS for the current fiscal year.

Insider Activity

In other news, CAO Cynthia Cammett Cann sold 4,788 shares of the firm's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $30.78, for a total value of $147,374.64. Following the sale, the chief accounting officer directly owned 18,822 shares in the company, valued at approximately $579,341.16. This trade represents a 20.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew C. Florance acquired 83,300 shares of the firm's stock in a transaction dated Tuesday, August 4th. The shares were purchased 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 in the company, valued at approximately $53,986,271.85. The trade was a 4.83% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.18% of the stock is owned by corporate insiders.

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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