CoStar Group, Inc. $CSGP Shares Sold by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. reduced its CoStar Group stake by 87% in the third quarter, selling 315,992 shares and retaining 47,256 shares valued at approximately $1.3 million.
• Other institutional investors generally increased their positions, and institutions and hedge funds collectively own 96.6% of CSGP. CEO Andrew Florance also bought 83,300 shares, while Chief Accounting Officer Cynthia Cammett Cann sold 4,788 shares.
• CoStar’s latest quarterly earnings exceeded expectations, with EPS of $0.32 versus a $0.29 consensus estimate and revenue up 18.4% year over year. Analysts remain mixed, producing a consensus “Hold” rating and an average price target of $40.11.

First Citizens Bank & Trust Co. cut its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 87.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,256 shares of the technology company's stock after selling 315,992 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in CoStar Group were worth $1,295,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CSGP. NorthCrest Asset Manangement LLC lifted its position in shares of CoStar Group by 307.7% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 50,401 shares of the technology company's stock valued at $1,381,000 after acquiring an additional 38,040 shares in the last quarter. Versant Capital Management Inc lifted its position in CoStar Group by 123.6% in the 3rd quarter. Versant Capital Management Inc now owns 7,671 shares of the technology company's stock worth $210,000 after buying an additional 4,240 shares in the last quarter. QRG Capital Management Inc. lifted its position in CoStar Group by 85.8% in the 2nd quarter. QRG Capital Management Inc. now owns 57,474 shares of the technology company's stock worth $1,628,000 after buying an additional 26,535 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in CoStar Group by 5.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 341,444 shares of the technology company's stock worth $9,670,000 after buying an additional 17,067 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of CoStar Group by 6.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 54,883 shares of the technology company's stock valued at $1,554,000 after buying an additional 3,195 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 4,788 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $30.78, for a total value of $147,374.64. Following the completion of the sale, the chief accounting officer 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Florance purchased 83,300 shares of the firm's stock in a transaction dated Tuesday, August 4th. The shares were bought at an average price of $29.89 per share, with a total value of $2,489,837.00. Following the purchase, the chief executive officer owned 1,806,165 shares in the company, valued at $53,986,271.85. This represents a 4.83% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.18% of the stock is owned by insiders.

CoStar Group Stock Up 6.3%

CSGP stock opened at $32.00 on Friday. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 1 year low of $25.89 and a 1 year high of $79.08. The company has a fifty day simple moving average of $30.28 and a 200 day simple moving average of $32.04. The firm has a market cap of $12.97 billion, a PE ratio of 168.43, a PEG ratio of 0.76 and a beta of 0.80.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The technology company reported $0.32 earnings per share (EPS) 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%. CoStar Group's revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the prior year, the company 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. Sell-side analysts anticipate that CoStar Group, Inc. will post 1.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CSGP has been the subject of several recent research reports. Citigroup lowered CoStar Group from a "market outperform" rating to a "neutral" rating and cut their price objective for the stock 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 price target on shares of CoStar Group in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods cut CoStar Group from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $41.00 to $29.00 in a research note on Wednesday, July 29th. William Blair downgraded CoStar Group from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. dropped their price objective on CoStar Group from $58.00 to $52.00 and set an "overweight" rating on the stock in a report on Wednesday, July 29th. Nine analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, CoStar Group has an average rating of "Hold" and a consensus target price of $40.11.

CoStar Group Company Profile

CoStar Group, Inc is a provider of information, analytics and online marketplaces for the commercial and residential real estate industries. The company collects, analyzes and distributes property and market data used by real estate owners, brokers, investors, lenders, appraisers and other professionals to evaluate properties, track market conditions and support business decisions.

Its portfolio includes CoStar, a commercial real estate information and research platform; LoopNet, a marketplace for commercial property listings; Apartments.com, a rental housing marketplace; and Homes.com, a residential real estate platform.

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