Granahan Investment Management LLC Sells 178,237 Shares of CoStar Group, Inc. $CSGP

Key Points

• Granahan Investment Management reduced its CoStar Group stake by 66% in the fourth quarter, selling 178,237 shares and ending with 91,929 shares valued at about $6.18 million.
• CoStar Group reported better-than-expected earnings for the quarter, posting $0.23 per share versus $0.18 expected, while revenue rose 22.5% year over year to $897 million.
• Insider and analyst activity has been mixed but broadly supportive: CEO Andrew C. Florance bought 71,430 shares, and the stock carries a consensus “Moderate Buy” rating with an average target price of $55.33 despite some recent target cuts.

Granahan Investment Management LLC cut its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 66.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 91,929 shares of the technology company's stock after selling 178,237 shares during the period. Granahan Investment Management LLC's holdings in CoStar Group were worth $6,181,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Enhancing Capital LLC raised its position in CoStar Group by 2.2% in the third quarter. Enhancing Capital LLC now owns 7,030 shares of the technology company's stock worth $593,000 after purchasing an additional 150 shares in the last quarter. Rossby Financial LCC raised its position in CoStar Group by 47.5% in the third quarter. Rossby Financial LCC now owns 503 shares of the technology company's stock worth $42,000 after purchasing an additional 162 shares in the last quarter. Zions Bancorporation National Association UT raised its position in CoStar Group by 41.8% in the third quarter. Zions Bancorporation National Association UT now owns 563 shares of the technology company's stock worth $48,000 after purchasing an additional 166 shares in the last quarter. United Capital Financial Advisors LLC raised its position in CoStar Group by 2.3% in the third quarter. United Capital Financial Advisors LLC now owns 7,545 shares of the technology company's stock worth $637,000 after purchasing an additional 167 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its position in CoStar Group by 1.0% in the third quarter. Ameritas Investment Partners Inc. now owns 17,991 shares of the technology company's stock worth $1,518,000 after purchasing an additional 176 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Stock Down 0.2%

Shares of NASDAQ CSGP opened at $31.97 on Wednesday. The firm's 50-day simple moving average is $35.01 and its 200 day simple moving average is $48.58. The company has a market cap of $13.06 billion, a price-to-earnings ratio of 532.92, a price-to-earnings-growth ratio of 0.82 and a beta of 0.72. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 12-month low of $31.35 and a 12-month high of $97.43.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The technology company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.05. The business had revenue of $897.00 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business posted ($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, research analysts expect that CoStar Group, Inc. will post 1.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on CSGP shares. Wall Street Zen raised shares of CoStar Group from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Stephens dropped their price objective on shares of CoStar Group from $50.00 to $42.00 and set an "overweight" rating for the company in a report on Monday, May 4th. Zacks Research raised shares of CoStar Group from a "strong sell" rating to a "hold" rating in a report on Monday, March 9th. Bank of America dropped 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. Finally, The Goldman Sachs Group dropped their price objective on shares of CoStar Group from $63.00 to $54.00 and set a "buy" rating for the company in a report on Thursday, April 30th. Thirteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, CoStar Group currently has a consensus rating of "Moderate Buy" and an average target price of $55.33.

Insider Buying and Selling at CoStar Group

In related news, CEO Andrew C. Florance purchased 71,430 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was acquired at an average price of $35.20 per share, with a total value of $2,514,336.00. Following the completion of the acquisition, the chief executive officer directly owned 1,722,865 shares in the company, valued at approximately $60,644,848. This trade represents a 4.33% 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 corporate insiders.

About CoStar Group

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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