Korea Investment CORP acquired a new stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 698,417 shares of the technology company's stock, valued at approximately $19,779,000. Korea Investment CORP owned about 0.17% of CoStar Group at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of CoStar Group during the 2nd quarter worth about $957,612,000. Bamco Inc. NY raised its position in shares of CoStar Group by 1.3% in the 4th quarter. Bamco Inc. NY now owns 19,498,099 shares of the technology company's stock valued at $1,311,052,000 after acquiring an additional 242,533 shares during the period. State Street Corp boosted its stake in CoStar Group by 1.9% during the 4th quarter. State Street Corp now owns 18,632,352 shares of the technology company's stock worth $1,252,839,000 after acquiring an additional 348,224 shares during the last quarter. Principal Financial Group Inc. boosted its stake in CoStar Group by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 17,696,192 shares of the technology company's stock worth $713,866,000 after acquiring an additional 130,118 shares during the last quarter. Finally, Capital International Investors grew its holdings in CoStar Group by 59.7% during the fourth quarter. Capital International Investors now owns 10,842,010 shares of the technology company's stock valued at $729,020,000 after purchasing an additional 4,053,456 shares during the period. Institutional investors and hedge funds own 96.60% of the company's stock.
Insider Activity
In related news, CEO Andrew C. Florance bought 83,300 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The shares were acquired at an average price of $29.89 per share, for a total transaction of $2,489,837.00. Following the completion of the acquisition, the chief executive officer owned 1,806,165 shares of the company's stock, valued at approximately $53,986,271.85. The trade was a 4.83% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Cynthia Cammett Cann sold 4,788 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $30.78, for a total value of $147,374.64. Following the transaction, the chief accounting officer directly owned 18,822 shares of the company's stock, valued at $579,341.16. This trade represents a 20.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.18% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several research firms have weighed in on CSGP. Keefe, Bruyette & Woods lowered shares of CoStar Group from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $41.00 to $29.00 in a report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft set a $44.00 price target on shares of CoStar Group in a report on Thursday, April 30th. Citigroup cut shares of CoStar Group from a "market outperform" rating to a "neutral" rating and lowered their price objective for the company from $70.00 to $33.00 in a research report on Wednesday, July 29th. Needham & Company LLC dropped their price objective on CoStar Group from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, July 29th. Finally, Wall Street Zen lowered CoStar Group from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $41.61.
Check Out Our Latest Stock Analysis on CSGP
CoStar Group Price Performance
Shares of CSGP opened at $32.26 on Monday. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a twelve month low of $25.89 and a twelve month high of $91.89. The stock has a market capitalization of $13.07 billion, a P/E ratio of 169.80, a P/E/G ratio of 0.85 and a beta of 0.72. The company has a 50 day moving average of $29.96 and a 200-day moving average of $36.53.
CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The technology company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. CoStar Group had a net margin of 2.08% and a return on equity of 3.74%. The business had revenue of $925.00 million for the quarter, compared to analyst estimates of $928.81 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. The firm's revenue for the quarter was up 18.4% on a year-over-year basis. 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. As a group, equities research analysts forecast that CoStar Group, Inc. will post 1.06 EPS for the current fiscal year.
About CoStar Group
(
Free Report)
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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