Granahan Investment Management LLC Grows Holdings in CoStar Group, Inc. $CSGP

Key Points

• Granahan Investment Management increased its CoStar Group stake by 75.2% in the first quarter, buying 69,118 additional shares and bringing its total holdings to 161,047 shares worth about $6.5 million.
• CoStar Group reported better-than-expected quarterly earnings of $0.23 per share versus $0.18 expected, with revenue of $897 million and year-over-year revenue growth of 22.5%.
• Wall Street sentiment is mixed but generally positive: the stock has a Moderate Buy consensus rating and a consensus price target of $51.50, while insiders also showed confidence with CEO Andrew C. Florance making a sizable stock purchase.

Granahan Investment Management LLC lifted its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 75.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 161,047 shares of the technology company's stock after buying an additional 69,118 shares during the period. Granahan Investment Management LLC's holdings in CoStar Group were worth $6,497,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSGP. Douglas Lane & Associates LLC lifted its position in shares of CoStar Group by 4.3% during the 4th quarter. Douglas Lane & Associates LLC now owns 683,061 shares of the technology company's stock valued at $45,929,000 after buying an additional 28,279 shares during the last quarter. Barclays PLC grew its stake in CoStar Group by 83.4% during the fourth quarter. Barclays PLC now owns 2,321,700 shares of the technology company's stock valued at $156,111,000 after acquiring an additional 1,055,584 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in CoStar Group by 100.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 245,184 shares of the technology company's stock worth $16,486,000 after acquiring an additional 122,776 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in CoStar Group by 22.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 210,095 shares of the technology company's stock worth $14,127,000 after acquiring an additional 38,715 shares during the period. Finally, Baillie Gifford & Co. lifted its stake in CoStar Group by 56.9% in the 4th quarter. Baillie Gifford & Co. now owns 12,933,185 shares of the technology company's stock worth $869,627,000 after purchasing an additional 4,691,543 shares in the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Trading Up 1.9%

NASDAQ:CSGP opened at $27.66 on Friday. The company has a 50-day moving average price of $30.98 and a 200-day moving average price of $41.31. The stock has a market cap of $11.30 billion, a price-to-earnings ratio of 461.08, a P/E/G ratio of 0.70 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. CoStar Group, Inc. has a 12 month low of $26.68 and a 12 month high of $97.43.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.05. CoStar Group had a net margin of 0.74% and a return on equity of 2.90%. The company had revenue of $897.00 million for the quarter, compared to analysts' expectations of $896.73 million. During the same quarter in the previous year, the company earned ($0.04) earnings per share. CoStar Group's quarterly revenue was up 22.5% on a year-over-year basis. 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. Equities analysts predict that CoStar Group, Inc. will post 1.03 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CSGP. Wells Fargo & Company set a $26.00 price objective on CoStar Group and gave the stock an "underweight" rating in a report on Wednesday, June 24th. Wall Street Zen raised CoStar Group from a "hold" rating to a "buy" rating in a research note on Saturday. Robert W. Baird set a $34.00 price objective on CoStar Group and gave the company a "neutral" rating in a research note on Tuesday, July 14th. Needham & Company LLC cut their price target on shares of CoStar Group from $60.00 to $50.00 and set a "buy" rating on the stock in a report on Wednesday, April 29th. Finally, Citigroup lowered their price objective on shares of CoStar Group from $100.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Twelve research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, CoStar Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.50.

Insider Buying and Selling at CoStar Group

In other news, CEO Andrew C. Florance bought 71,430 shares of the firm's stock in a transaction dated Friday, May 1st. The stock was purchased at an average price of $35.20 per share, with a total value of $2,514,336.00. Following the transaction, the chief executive officer owned 1,722,865 shares of the company's stock, valued at approximately $60,644,848. The trade was a 4.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.18% of the company's stock.

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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