Engineers Gate Manager LP Invests $2.77 Million in CoStar Group, Inc. $CSGP

Key Points

• Engineers Gate Manager LP initiated a $2.77 million position in CoStar Group, purchasing 97,924 shares during the second quarter. Institutional investors collectively own 96.6% of the company.
• Analyst sentiment is mixed, with nine Buy, nine Hold and two Sell ratings. CoStar has an average rating of Hold and an average price target of $40.11.
• CoStar reported quarterly EPS of $0.32, exceeding the $0.29 consensus estimate, while revenue rose 18.4% year over year to $925 million. CEO Andrew Florance also bought $2.49 million of shares, while the chief accounting officer sold approximately $147,000.

Engineers Gate Manager LP bought a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 97,924 shares of the technology company's stock, valued at approximately $2,773,000.

Other large investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC increased its holdings in shares of CoStar Group by 107.3% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 17,173 shares of the technology company's stock valued at $486,000 after acquiring an additional 8,890 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of CoStar Group by 2,266.3% during the 2nd quarter. NewEdge Advisors LLC now owns 11,879 shares of the technology company's stock worth $336,000 after acquiring an additional 11,377 shares in the last quarter. IFP Advisors Inc lifted its stake in CoStar Group by 146.9% during the second quarter. IFP Advisors Inc now owns 3,968 shares of the technology company's stock worth $112,000 after purchasing an additional 2,361 shares during the last quarter. Baird Financial Group Inc. lifted its stake in CoStar Group by 9.6% during the second quarter. Baird Financial Group Inc. now owns 11,769 shares of the technology company's stock worth $333,000 after purchasing an additional 1,033 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in CoStar Group by 281.9% in the second quarter. Allworth Financial LP now owns 13,582 shares of the technology company's stock valued at $385,000 after purchasing an additional 10,026 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on CSGP. JPMorgan Chase & Co. dropped their target price on shares of CoStar Group from $58.00 to $52.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 29th. Wall Street Zen downgraded shares of CoStar Group from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. Benchmark assumed coverage on CoStar Group in a report on Thursday, June 4th. They set a "buy" rating and a $45.00 price objective on the stock. KeyCorp set a $33.00 price objective on CoStar Group in a report on Monday, August 24th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of CoStar Group in a report on Wednesday, June 24th. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, CoStar Group has an average rating of "Hold" and an average target price of $40.11.

Insiders Place Their Bets

In other CoStar Group news, CAO Cynthia Cammett Cann sold 4,788 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $30.78, for a total transaction of $147,374.64. Following the transaction, the chief accounting officer directly owned 18,822 shares in the company, valued at approximately $579,341.16. This represents a 20.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew Florance bought 83,300 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were acquired at an average price 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. This represents a 4.83% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.18% of the company's stock.

CoStar Group Price Performance

CoStar Group stock opened at $31.52 on Tuesday. CoStar Group, Inc. has a 12 month low of $25.89 and a 12 month high of $90.72. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.21 and a quick ratio of 2.21. The business has a 50 day simple moving average of $30.42 and a 200-day simple moving average of $34.57. The stock has a market capitalization of $12.77 billion, a PE ratio of 165.90, a price-to-earnings-growth ratio of 0.78 and a beta of 0.75.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $925.00 million for the quarter, compared to analyst estimates of $928.81 million. CoStar Group had a net margin of 2.08% and a return on equity of 3.74%. The business's revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the business 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 analysts predict that CoStar Group, Inc. will post 1.07 earnings per share for the current year.

CoStar Group Company Profile

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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