CoStar Group, Inc. $CSGP Holdings Cut by NEOS Investment Management LLC

Key Points

• NEOS Investment Management cut its CoStar Group stake by 54.6% in the second quarter, selling 199,135 shares and retaining 165,566 shares valued at approximately $4.7 million. Institutional investors collectively own 96.6% of the company.
• CoStar Group exceeded quarterly earnings expectations, reporting $0.32 in EPS versus the $0.29 consensus estimate, while revenue rose 18.4% year over year to $925 million but fell slightly short of forecasts.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $40.11 versus the stock’s recent price near $30.91. CEO Andrew Florance also bought 83,300 shares worth about $2.5 million.

NEOS Investment Management LLC trimmed its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 54.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 165,566 shares of the technology company's stock after selling 199,135 shares during the quarter. NEOS Investment Management LLC's holdings in CoStar Group were worth $4,689,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in CSGP. Reflection Asset Management acquired a new stake in CoStar Group in the fourth quarter worth $27,000. Lloyd Advisory Services LLC. acquired a new position in shares of CoStar Group during the fourth quarter valued at $29,000. Transamerica Financial Advisors LLC acquired a new position in shares of CoStar Group during the second quarter valued at $33,000. DV Equities LLC bought a new position in shares of CoStar Group during the fourth quarter worth about $40,000. Finally, IFP Advisors Inc grew its position in shares of CoStar Group by 329.4% during the fourth quarter. IFP Advisors Inc now owns 614 shares of the technology company's stock worth $41,000 after acquiring an additional 471 shares during the last quarter. Institutional investors own 96.60% of the company's stock.

CoStar Group Price Performance

NASDAQ CSGP opened at $30.91 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.21 and a quick ratio of 2.21. The company's 50 day simple moving average is $30.29 and its 200 day simple moving average is $35.33. CoStar Group, Inc. has a 12 month low of $25.89 and a 12 month high of $91.89. The company has a market capitalization of $12.52 billion, a P/E ratio of 162.69, a PEG ratio of 0.79 and a beta of 0.75.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its earnings results 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 firm had revenue of $925.00 million during the quarter, compared to analysts' expectations of $928.81 million. CoStar Group had a net margin of 2.08% and a return on equity of 3.74%. The firm's revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period last year, the firm posted $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. Equities research analysts expect that CoStar Group, Inc. will post 1.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Andrew C. Florance bought 83,300 shares of CoStar Group stock in a transaction dated Tuesday, August 4th. The stock was acquired at an average cost of $29.89 per share, with a total value of $2,489,837.00. Following the completion of the acquisition, the chief executive officer directly owned 1,806,165 shares in the company, valued at approximately $53,986,271.85. This trade represents a 4.83% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Cynthia Cammett Cann sold 4,788 shares of the 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 completion of the transaction, the chief accounting officer owned 18,822 shares of the company's stock, valued at $579,341.16. This trade represents a 20.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.18% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CSGP. Citizens Jmp dropped their price objective on shares of CoStar Group from $44.00 to $35.00 and set a "market outperform" rating on the stock in a report on Wednesday, July 29th. The Goldman Sachs Group reissued a "buy" rating and issued a $40.00 price objective on shares of CoStar Group in a report on Wednesday, July 29th. Citigroup cut shares of CoStar Group from a "market outperform" rating to a "neutral" rating and lowered their target price for the company from $70.00 to $33.00 in a research note on Wednesday, July 29th. KeyCorp set a $33.00 target price on CoStar Group in a report on Monday, August 24th. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $33.00 price target (up from $31.00) on shares of CoStar Group in a research report on Monday, August 24th. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, CoStar Group has a consensus rating of "Hold" and an average target price of $40.11.

About CoStar Group

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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