Needham Investment Management LLC Acquires 57,250 Shares of CoStar Group, Inc. $CSGP

Key Points

• Needham Investment Management sharply increased its CoStar Group stake in the fourth quarter, adding 57,250 shares and lifting its holdings to 60,500 shares valued at about $4.07 million.
• Insider buying was also notable: CEO Andrew C. Florance purchased 71,430 shares at an average price of $35.20, increasing his direct ownership by 4.33%.
• Analyst sentiment is mixed but cautious, with several firms cutting price targets and the stock carrying an average “Moderate Buy” rating and consensus price target of $55.33.

Needham Investment Management LLC increased its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 1,761.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 60,500 shares of the technology company's stock after buying an additional 57,250 shares during the quarter. Needham Investment Management LLC's holdings in CoStar Group were worth $4,068,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Squarepoint Ops LLC grew its holdings in shares of CoStar Group by 5,664.9% during the fourth quarter. Squarepoint Ops LLC now owns 795,563 shares of the technology company's stock worth $53,494,000 after buying an additional 781,763 shares in the last quarter. USS Investment Management Ltd grew its holdings in shares of CoStar Group by 1.3% during the fourth quarter. USS Investment Management Ltd now owns 74,622 shares of the technology company's stock worth $5,017,000 after buying an additional 952 shares in the last quarter. MML Investors Services LLC grew its holdings in shares of CoStar Group by 0.4% during the fourth quarter. MML Investors Services LLC now owns 92,277 shares of the technology company's stock worth $6,205,000 after buying an additional 325 shares in the last quarter. LRT Capital Management LLC bought a new position in shares of CoStar Group during the fourth quarter worth about $420,000. Finally, Entropy Technologies LP bought a new position in shares of CoStar Group during the fourth quarter worth about $882,000. 96.60% of the stock is currently owned by institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CSGP shares. BMO Capital Markets decreased their price objective on CoStar Group from $72.00 to $53.00 and set a "market perform" rating for the company in a report on Thursday, February 26th. Wells Fargo & Company reduced their price target on CoStar Group from $40.00 to $33.00 and set an "underweight" rating for the company in a research report on Thursday, April 30th. Weiss Ratings reissued a "sell (d)" rating on shares of CoStar Group in a research report on Friday, March 27th. Robert W. Baird reduced their price target on CoStar Group from $73.00 to $56.00 and set an "outperform" rating for the company in a research report on Monday, April 13th. Finally, BTIG Research reissued a "buy" rating and set a $55.00 price target on shares of CoStar Group in a research report on Wednesday, April 29th. Thirteen equities research 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, the stock has an average rating of "Moderate Buy" and an average price target of $55.33.

CoStar Group Stock Performance

CSGP opened at $32.04 on Tuesday. CoStar Group, Inc. has a 12-month low of $31.35 and a 12-month high of $97.43. The stock has a market cap of $13.08 billion, a price-to-earnings ratio of 534.09, a PEG ratio of 0.84 and a beta of 0.72. The business has a 50 day moving average of $35.17 and a 200-day moving average of $48.83. 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 (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.05. CoStar Group had a return on equity of 2.90% and a net margin of 0.74%.The company had revenue of $897.00 million during the quarter, compared to analysts' expectations of $896.73 million. During the same period last year, the firm posted ($0.04) earnings per share. The business's 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. On average, equities research analysts expect that CoStar Group, Inc. will post 1.03 earnings per share for the current year.

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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