Pictet Asset Management Holding SA Boosts Stock Position in CoStar Group, Inc. $CSGP

Key Points

• Pictet Asset Management Holding SA increased its CoStar Group stake by 30% in the first quarter, adding 316,651 shares to reach 1,372,159 shares worth about $55.4 million.
• CoStar Group reported better-than-expected quarterly results, with EPS of $0.23 versus $0.18 expected and revenue of $897 million, while revenue rose 22.5% year over year.
• CEO Andrew C. Florance bought 71,430 shares in early May, and analysts currently rate the stock a Moderate Buy with an average price target of $54.50.

Pictet Asset Management Holding SA increased its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 30.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,372,159 shares of the technology company's stock after acquiring an additional 316,651 shares during the period. Pictet Asset Management Holding SA owned about 0.33% of CoStar Group worth $55,359,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of CoStar Group during the fourth quarter worth about $476,765,000. Baillie Gifford & Co. boosted its stake in shares of CoStar Group by 56.9% in the fourth quarter. Baillie Gifford & Co. now owns 12,933,185 shares of the technology company's stock valued at $869,627,000 after purchasing an additional 4,691,543 shares during the period. Capital International Investors grew its holdings in shares of CoStar Group by 59.7% in 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 in the last quarter. Viking Global Investors LP acquired a new position in shares of CoStar Group in the second quarter valued at approximately $258,773,000. Finally, Goldman Sachs Group Inc. increased its stake in CoStar Group by 70.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,751,312 shares of the technology company's stock worth $252,238,000 after buying an additional 1,556,100 shares during the period. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Stock Performance

Shares of CSGP stock opened at $29.32 on Tuesday. The company has a market cap of $11.97 billion, a P/E ratio of 488.75, a PEG ratio of 0.78 and a beta of 0.72. The firm has a fifty day moving average price of $33.43 and a 200 day moving average price of $46.15. 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 $28.54 and a 12 month high of $97.43.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted 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 company had revenue of $897.00 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the firm earned ($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. Sell-side analysts predict that CoStar Group, Inc. will post 1.03 earnings per share for the current fiscal year.

Insider Activity at CoStar Group

In other CoStar Group news, CEO Andrew C. Florance bought 71,430 shares of the business's stock in a transaction dated Friday, May 1st. The shares were acquired 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 acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CSGP shares. Keefe, Bruyette & Woods reduced their target price on shares of CoStar Group from $57.00 to $50.00 and set an "outperform" rating on the stock in a report on Wednesday, April 29th. Citigroup cut their price objective on CoStar Group from $100.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. Bank of America reduced their price objective on CoStar Group from $42.00 to $37.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 19th. Benchmark began coverage on CoStar Group in a report on Thursday, June 4th. They issued a "buy" rating and a $45.00 target price for the company. Finally, Robert W. Baird lowered their target price on CoStar Group from $73.00 to $56.00 and set an "outperform" rating for the company in a research note on Monday, April 13th. Thirteen 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $54.50.

CoStar Group Company 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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