Norges Bank Buys New Holdings in CoStar Group, Inc. $CSGP

Key Points

• Norges Bank opened a new position in CoStar Group during the fourth quarter, buying 7,090,495 shares worth about $476.8 million. The stake represented roughly 1.67% of the company.
• Other institutional investors also boosted their holdings, including Baillie Gifford, Jupiter Asset Management, and Vanguard, and overall 96.6% of CoStar Group’s stock is held by institutions.
• CoStar Group recently reported better-than-expected earnings, with Q1 EPS of $0.23 versus estimates of $0.18 and revenue up 22.5% year over year. Despite that, analysts have trimmed price targets, leaving the stock with a consensus rating of Moderate Buy and a target of $55.94.

Norges Bank bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,090,495 shares of the technology company's stock, valued at approximately $476,765,000. Norges Bank owned approximately 1.67% of CoStar Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. raised its position in shares of CoStar Group by 56.9% during the fourth 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 during the period. Viking Global Investors LP acquired a new position in shares of CoStar Group during the second quarter worth approximately $258,773,000. Jupiter Asset Management Ltd. raised its position in shares of CoStar Group by 386.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 1,863,704 shares of the technology company's stock worth $125,315,000 after purchasing an additional 1,480,474 shares during the period. Vanguard Group Inc. raised its holdings in CoStar Group by 1.8% during the third quarter. Vanguard Group Inc. now owns 70,056,441 shares of the technology company's stock worth $5,910,662,000 after buying an additional 1,208,958 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in CoStar Group by 27.0% during the third quarter. Capital Research Global Investors now owns 4,993,854 shares of the technology company's stock worth $421,330,000 after buying an additional 1,062,452 shares during the last quarter. 96.60% of the stock is owned by institutional investors.

CoStar Group Stock Performance

NASDAQ CSGP opened at $32.20 on Monday. The firm has a market capitalization of $13.15 billion, a P/E ratio of 536.76, a PEG ratio of 0.83 and a beta of 0.72. The business has a fifty day simple moving average of $36.88 and a 200 day simple moving average of $51.48. CoStar Group, Inc. has a 12 month low of $31.35 and a 12 month high of $97.43. 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 (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The technology company reported $0.23 EPS 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 return on equity of 2.90% and a net margin of 0.74%.CoStar Group's quarterly revenue was up 22.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) EPS. 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, analysts predict that CoStar Group, Inc. will post 1.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CSGP shares. Weiss Ratings restated a "sell (d)" rating on shares of CoStar Group in a report on Friday, March 27th. Citizens Jmp lowered their target price on shares of CoStar Group from $73.00 to $44.00 and set a "market outperform" rating on the stock in a report on Wednesday, April 29th. Stephens lowered their target price on shares of CoStar Group from $50.00 to $42.00 and set an "overweight" rating on the stock in a report on Monday, May 4th. BTIG Research restated a "buy" rating and issued a $55.00 target price on shares of CoStar Group in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. lowered their price objective on CoStar Group from $82.00 to $70.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. Twelve equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.94.

Insider Activity

In other news, Director Louise S. Sams acquired 1,000 shares of the firm's stock in a transaction on Friday, March 6th. The stock was purchased at an average price of $48.36 per share, for a total transaction of $48,360.00. Following the purchase, the director owned 20,409 shares in the company, valued at approximately $986,979.24. This represents a 5.15% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Andrew C. Florance acquired 71,430 shares of the firm's stock in a transaction on 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 purchase, the chief executive officer owned 1,722,865 shares in the company, valued at approximately $60,644,848. The trade was a 4.33% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 1.09% of the company's stock.

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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