Corient Private Wealth LP Makes New Investment in CoStar Group, Inc. $CSGP

Key Points

• Corient Private Wealth acquired 82,804 CoStar Group shares worth approximately $2.35 million in the second quarter. Other major investors also initiated positions, and institutional investors now own 96.6% of the company.
• CoStar shares opened at $31.26, down 2.3%, and remain well below their 52-week high of $91.89. The company nevertheless beat quarterly EPS estimates, while revenue increased 18.4% year over year to $925 million.
• Analyst sentiment is mixed, with nine Buy, nine Hold, and two Sell ratings, producing a consensus Hold rating and a $40.11 price target. CEO Andrew Florance also purchased 83,300 shares, worth about $2.49 million.

Corient Private Wealth LP acquired a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 82,804 shares of the technology company's stock, valued at approximately $2,345,000.

Several other large investors have also modified their holdings of CSGP. Perennial Investment Advisors LLC purchased a new position in shares of CoStar Group in the 2nd quarter valued at $301,000. Petrus Trust Company LTA purchased a new stake in CoStar Group in the second quarter valued at $21,416,000. Bamco Inc. NY purchased a new stake in CoStar Group in the second quarter valued at $612,470,000. Bank of America Corp DE acquired a new position in CoStar Group in the second quarter valued at $77,458,000. Finally, American Capital Management Inc. acquired a new position in CoStar Group in the second quarter valued at $20,536,000. Institutional investors and hedge funds own 96.60% of the company's stock.

CoStar Group Trading Down 2.3%

Shares of CoStar Group stock opened at $31.26 on Thursday. 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 $12.67 billion, a P/E ratio of 164.53, a PEG ratio of 0.82 and a beta of 0.75. CoStar Group, Inc. has a 1 year low of $25.89 and a 1 year high of $91.89. The company's fifty day moving average is $30.21 and its two-hundred day moving average is $35.52.

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

Insider Activity

In related news, CEO Andrew C. Florance acquired 83,300 shares of CoStar Group stock in a transaction on Tuesday, August 4th. The stock was purchased at an average cost of $29.89 per share, with a total value of $2,489,837.00. Following the purchase, the chief executive officer directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Cynthia Cammett Cann sold 4,788 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was 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 of the company's stock, valued at $579,341.16. The trade was a 20.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.18% of the company's stock.

Wall Street Analysts Forecast Growth

CSGP has been the topic of a number of research analyst reports. Bank of America cut their target price on CoStar Group from $42.00 to $37.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 19th. Needham & Company LLC decreased their target price on CoStar Group from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, July 29th. BMO Capital Markets restated a "market perform" rating and set a $33.00 price target (up from $31.00) on shares of CoStar Group in a research note on Monday, August 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. Finally, Citigroup cut CoStar Group from a "market outperform" rating to a "neutral" rating and reduced their price objective for the company from $70.00 to $33.00 in a research note on Wednesday, July 29th. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $40.11.

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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