CoStar Group, Inc. $CSGP Shares Bought by Bank of America Corp DE

Key Points

• Bank of America increased its CoStar Group stake by 1.8% in the first quarter, acquiring 63,295 additional shares and bringing its holdings to 3.57 million shares valued at approximately $143.9 million. Institutional investors collectively own 96.6% of the company.
• CEO Andrew Florance purchased 83,300 shares for roughly $2.49 million, increasing his direct ownership by 4.83%. Company insiders now own 1.18% of CoStar Group.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $41.61 versus the stock’s opening price of $30.21. CoStar’s latest quarterly results beat EPS estimates, while revenue rose 18.4% year over year.

Bank of America Corp DE boosted its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 1.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,568,107 shares of the technology company's stock after acquiring an additional 63,295 shares during the period. Bank of America Corp DE owned about 0.87% of CoStar Group worth $143,937,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Edgestream Partners L.P. boosted its holdings in shares of CoStar Group by 370.9% in the 1st quarter. Edgestream Partners L.P. now owns 74,431 shares of the technology company's stock valued at $3,003,000 after buying an additional 58,626 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of CoStar Group by 3.4% in the 1st quarter. Janus Henderson Group PLC now owns 7,724,152 shares of the technology company's stock valued at $311,586,000 after buying an additional 250,772 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in CoStar Group by 60.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,721 shares of the technology company's stock worth $110,000 after acquiring an additional 1,026 shares in the last quarter. Royal Bank of Canada raised its stake in CoStar Group by 9.8% during the 1st quarter. Royal Bank of Canada now owns 1,435,734 shares of the technology company's stock worth $57,917,000 after acquiring an additional 127,792 shares in the last quarter. Finally, Rush Island Management LP purchased a new stake in CoStar Group in the first quarter valued at $19,492,000. Hedge funds and other institutional investors own 96.60% of the company's stock.

Insider Buying and Selling at CoStar Group

In related news, CEO Andrew C. Florance purchased 83,300 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was bought 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 $53,986,271.85. The trade was a 4.83% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wolfe Research restated an "outperform" rating and issued a $32.00 price objective (down from $35.00) on shares of CoStar Group in a research note on Wednesday, July 29th. Needham & Company LLC cut their target price on CoStar Group from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, July 29th. Citigroup downgraded CoStar Group from a "market outperform" rating to a "neutral" rating and reduced their target price for the company from $70.00 to $33.00 in a report on Wednesday, July 29th. The Goldman Sachs Group reissued a "buy" rating and issued a $40.00 target price on shares of CoStar Group in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. dropped their price target on CoStar Group from $58.00 to $52.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 29th. Nine investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $41.61.

CoStar Group Stock Performance

NASDAQ CSGP opened at $30.21 on Thursday. The company has a market capitalization of $12.24 billion, a P/E ratio of 159.01, a PEG ratio of 0.78 and a beta of 0.72. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.21 and a quick ratio of 2.21. CoStar Group, Inc. has a 1-year low of $25.89 and a 1-year high of $97.40. The business has a 50 day moving average price of $30.38 and a 200 day moving average price of $39.31.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $925.00 million for the quarter, compared to analysts' expectations of $928.81 million. During the same period in the prior year, the company earned $0.17 EPS. The firm's revenue 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. Sell-side analysts expect that CoStar Group, Inc. will post 1.06 EPS for the current fiscal year.

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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