First Citizens Bank & Trust Co. Grows Stock Position in CoStar Group, Inc. $CSGP

Key Points

• First Citizens Bank & Trust increased its CoStar Group stake by 33.4% in the first quarter, adding 86,100 shares to bring its total to 343,504 shares worth about $13.9 million.
• Several other institutional investors also raised their positions, and hedge funds and institutions now own 96.6% of CoStar Group’s stock, signaling strong institutional interest.
• CoStar recently reported better-than-expected quarterly earnings of $0.23 per share and revenue of $897 million, while analysts currently rate the stock a Moderate Buy with an average target price of $51.50.

First Citizens Bank & Trust Co. raised its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 33.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 343,504 shares of the technology company's stock after buying an additional 86,100 shares during the quarter. First Citizens Bank & Trust Co. owned about 0.08% of CoStar Group worth $13,857,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CSGP. United Capital Financial Advisors LLC increased its holdings in CoStar Group by 2.3% in the 3rd quarter. United Capital Financial Advisors LLC now owns 7,545 shares of the technology company's stock worth $637,000 after acquiring an additional 167 shares during the last quarter. Man Group plc lifted its holdings in CoStar Group by 1.7% during the second quarter. Man Group plc now owns 10,368 shares of the technology company's stock valued at $834,000 after purchasing an additional 177 shares during the last quarter. Norinchukin Bank The lifted its holdings in CoStar Group by 0.5% during the third quarter. Norinchukin Bank The now owns 35,539 shares of the technology company's stock valued at $2,998,000 after purchasing an additional 184 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in CoStar Group by 0.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,517 shares of the technology company's stock worth $1,446,000 after purchasing an additional 186 shares during the period. Finally, Allworth Financial LP boosted its position in CoStar Group by 6.5% during the third quarter. Allworth Financial LP now owns 3,745 shares of the technology company's stock worth $316,000 after purchasing an additional 228 shares during the period. Hedge funds and other institutional investors own 96.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CSGP. Needham & Company LLC lowered their price target on shares of CoStar Group from $60.00 to $50.00 and set a "buy" rating on the stock in a research report on Wednesday, April 29th. Bank of America cut their price objective on shares of CoStar Group from $42.00 to $37.00 and set a "neutral" rating for the company in a report on Tuesday, May 19th. Weiss Ratings reiterated a "sell (d)" rating on shares of CoStar Group in a research note on Wednesday, June 24th. Robert W. Baird set a $34.00 target price on shares of CoStar Group and gave the company a "neutral" rating in a report on Tuesday, July 14th. Finally, The Goldman Sachs Group set a $46.00 target price on CoStar Group and gave the stock a "buy" rating in a research report on Thursday, June 25th. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $51.50.

Insider Buying and Selling

In other news, CEO Andrew C. Florance purchased 71,430 shares of CoStar Group stock in a transaction dated Friday, May 1st. The stock was purchased at an average cost of $35.20 per share, for a total transaction of $2,514,336.00. Following the transaction, the chief executive officer directly owned 1,722,865 shares of the company's stock, valued at approximately $60,644,848. This trade represents a 4.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.18% of the stock is currently owned by insiders.

CoStar Group Trading Down 4.0%

Shares of CoStar Group stock opened at $28.50 on Wednesday. CoStar Group, Inc. has a 12-month low of $26.68 and a 12-month high of $97.43. The company has a market cap of $11.64 billion, a price-to-earnings ratio of 475.08, a PEG ratio of 0.76 and a beta of 0.74. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.13. The company's 50-day moving average price is $31.26 and its 200-day moving average price is $41.96.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The technology company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.18 by $0.05. The company had revenue of $897.00 million during the quarter, compared to analysts' expectations of $896.73 million. CoStar Group had a net margin of 0.74% and a return on equity of 2.90%. CoStar Group's revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.04) earnings per share. CoStar Group has set its Q2 2026 guidance at 0.270-0.300 EPS and its FY 2026 guidance at 1.320-1.390 EPS. On average, equities analysts expect that CoStar Group, Inc. will post 1.03 earnings per share for the current fiscal year.

CoStar Group Company 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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