Bank of New York Mellon Corp Reduces Stock Position in CoStar Group, Inc. $CSGP

Key Points

• Bank of New York Mellon cut its CoStar Group stake by 41.6% in the first quarter, selling 1.71 million shares and ending with 2.4 million shares worth about $96.8 million.
• CoStar Group reported better-than-expected quarterly results, with EPS of $0.23 versus $0.18 expected and revenue of $897 million, up 22.5% year over year. The company also guided Q2 2026 EPS to $0.270-$0.300 and FY 2026 EPS to $1.320-$1.390.
• The stock was trading around $29.68, near its 52-week low, while analysts still hold a Moderate Buy consensus with a $51.50 average price target. CEO Andrew C. Florance also bought 71,430 shares in May, signaling insider confidence.

Bank of New York Mellon Corp trimmed its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 41.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,400,680 shares of the technology company's stock after selling 1,712,322 shares during the period. Bank of New York Mellon Corp owned about 0.59% of CoStar Group worth $96,843,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Bamco Inc. NY boosted its position in CoStar Group by 1.3% during the fourth quarter. Bamco Inc. NY now owns 19,498,099 shares of the technology company's stock worth $1,311,052,000 after acquiring an additional 242,533 shares during the last quarter. State Street Corp raised its holdings in CoStar Group by 1.9% in the 4th quarter. State Street Corp now owns 18,632,352 shares of the technology company's stock valued at $1,252,839,000 after acquiring an additional 348,224 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of CoStar Group by 0.7% during the 1st 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 period. Baillie Gifford & Co. boosted its holdings in shares of CoStar Group by 56.9% during the fourth quarter. Baillie Gifford & Co. now owns 12,933,185 shares of the technology company's stock worth $869,627,000 after purchasing an additional 4,691,543 shares during the last quarter. Finally, Capital International Investors boosted its holdings in shares of 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 last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Andrew C. Florance purchased 71,430 shares of the business's stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average price of $35.20 per share, with a total value of $2,514,336.00. Following the acquisition, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.18% of the company's stock.

CoStar Group Stock Down 0.3%

Shares of CoStar Group stock opened at $29.68 on Tuesday. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.13. The firm has a market cap of $12.12 billion, a P/E ratio of 494.75, a P/E/G ratio of 0.77 and a beta of 0.74. CoStar Group, Inc. has a fifty-two week low of $26.68 and a fifty-two week high of $97.43. The business has a 50-day moving average price of $31.35 and a 200 day moving average price of $42.23.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced 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. CoStar Group had a return on equity of 2.90% and a net margin of 0.74%.The firm had revenue of $897.00 million for the quarter, compared to analysts' expectations of $896.73 million. During the same period last year, the business posted ($0.04) earnings per share. The firm's revenue for the quarter was up 22.5% on a year-over-year basis. 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. On average, sell-side analysts forecast that CoStar Group, Inc. will post 1.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. 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. Deutsche Bank Aktiengesellschaft set a $44.00 price target on CoStar Group in a research note on Thursday, April 30th. 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. Robert W. Baird set a $34.00 price target on shares of CoStar Group and gave the stock a "neutral" rating in a research report on Tuesday, July 14th. Finally, Benchmark started coverage on shares of CoStar Group in a research report on Thursday, June 4th. They set a "buy" rating and a $45.00 price target for the company. Twelve equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, CoStar Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.50.

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.

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