California State Teachers Retirement System Has $545.92 Million Stock Holdings in CoStar Group, Inc. $CSGP

Key Points

• California State Teachers Retirement System increased its CoStar Group stake by 2,789.6% in the second quarter, owning 19.28 million shares worth approximately $545.9 million, or 4.76% of the company.
• Institutional investors hold 96.6% of CoStar Group’s shares, with BlackRock and Bamco initiating sizable positions during the quarter. CEO Andrew Florance also bought 83,300 shares, while the chief accounting officer sold 4,788 shares.
• CoStar Group beat quarterly earnings expectations with $0.32 EPS versus $0.29 expected, while revenue rose 18.4% year over year to $925 million. Analysts’ consensus rating is Hold, with an average price target of $40.11.

California State Teachers Retirement System grew its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 2,789.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,276,971 shares of the technology company's stock after buying an additional 18,609,860 shares during the period. California State Teachers Retirement System owned approximately 4.76% of CoStar Group worth $545,924,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in CoStar Group in the 2nd quarter valued at about $957,612,000. Bamco Inc. NY bought a new position in shares of CoStar Group during the second quarter worth approximately $612,470,000. Principal Financial Group Inc. raised its position in shares of CoStar Group by 0.7% in the first quarter. Principal Financial Group Inc. now owns 17,696,192 shares of the technology company's stock valued at $713,866,000 after buying an additional 130,118 shares in the last quarter. Capital International Investors raised its position in shares of CoStar Group by 59.7% in the fourth quarter. Capital International Investors now owns 10,842,010 shares of the technology company's stock valued at $729,020,000 after buying an additional 4,053,456 shares in the last quarter. Finally, Akre Capital Management LLC boosted its stake in shares of CoStar Group by 3.3% in the fourth quarter. Akre Capital Management LLC now owns 9,617,805 shares of the technology company's stock valued at $646,701,000 after buying an additional 311,320 shares during the period. Institutional investors and hedge funds own 96.60% of the company's stock.

Insider Activity at CoStar Group

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CSGP shares. Wolfe Research reissued an "outperform" rating and set a $32.00 price target (down from $35.00) on shares of CoStar Group in a research report on Wednesday, July 29th. Royal Bank Of Canada set a $34.00 price objective on CoStar Group and gave the company a "sector perform" rating in a report on Monday, July 13th. Citizens Jmp cut their target price 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. Robert W. Baird set a $34.00 target price on CoStar Group and gave the stock a "neutral" rating in a report on Tuesday, July 14th. Finally, Wall Street Zen cut CoStar Group from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $40.11.

CoStar Group Trading Up 3.5%

Shares of CSGP opened at $31.52 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.21 and a current ratio of 2.21. CoStar Group, Inc. has a 52-week low of $25.89 and a 52-week high of $90.72. The firm has a market cap of $12.77 billion, a price-to-earnings ratio of 165.90, a PEG ratio of 0.78 and a beta of 0.75. The business's fifty day moving average is $30.42 and its 200-day moving average is $34.57.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The technology company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.03. CoStar Group had a return on equity of 3.74% and a net margin of 2.08%.The business had revenue of $925.00 million during the quarter, compared to the consensus estimate of $928.81 million. During the same period in the prior year, the company earned $0.17 EPS. CoStar Group's revenue for the quarter was up 18.4% on a year-over-year basis. 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. Equities analysts anticipate that CoStar Group, Inc. will post 1.07 EPS for the current fiscal year.

About CoStar Group

CoStar Group, Inc is a provider of commercial real estate information, analytics and online marketplaces. The company collects, analyzes and distributes data on property listings, transactions, rents, vacancies, market trends and other aspects of the real estate industry. Its products serve property owners, brokers, investors, lenders, appraisers, developers and other real estate professionals.

CoStar's portfolio includes the CoStar commercial property information platform, LoopNet for commercial property listings, Apartments.com for rental housing, Homes.com for residential real estate, Land.com for land listings, and Ten-X for online commercial real estate auctions.

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