Polen Capital Management LLC Decreases Stock Holdings in CoStar Group, Inc. $CSGP

Key Points

• Polen Capital Management cut its CoStar Group stake by 23.4% in the fourth quarter, selling nearly 1.49 million shares and ending with 4.89 million shares worth about $328.9 million.
• CoStar Group shares were down 4.6% in Friday trading, with the stock near its 52-week low and well below its 200-day moving average.
• The company beat earnings expectations in its latest quarter, reporting $0.23 EPS on revenue of $897 million, while CEO Andrew C. Florance bought 71,430 shares in early May.

Polen Capital Management LLC lowered its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 23.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,890,936 shares of the technology company's stock after selling 1,489,973 shares during the quarter. CoStar Group accounts for 1.4% of Polen Capital Management LLC's portfolio, making the stock its 26th largest position. Polen Capital Management LLC owned about 1.15% of CoStar Group worth $328,867,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC increased its stake in shares of CoStar Group by 9.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,789 shares of the technology company's stock worth $379,000 after purchasing an additional 426 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of CoStar Group by 727.5% in the first quarter. NewEdge Advisors LLC now owns 1,473 shares of the technology company's stock worth $117,000 after buying an additional 1,295 shares during the period. Jones Financial Companies Lllp lifted its position in shares of CoStar Group by 860.7% during the 1st quarter. Jones Financial Companies Lllp now owns 12,691 shares of the technology company's stock valued at $1,006,000 after buying an additional 11,370 shares in the last quarter. Empowered Funds LLC grew its stake in shares of CoStar Group by 9.2% during the 1st quarter. Empowered Funds LLC now owns 7,941 shares of the technology company's stock valued at $629,000 after acquiring an additional 666 shares during the period. Finally, Woodline Partners LP increased its holdings in CoStar Group by 44.6% in the 1st quarter. Woodline Partners LP now owns 35,604 shares of the technology company's stock worth $2,821,000 after acquiring an additional 10,984 shares in the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Trading Down 4.6%

NASDAQ:CSGP opened at $32.65 on Friday. The firm has a 50-day simple moving average of $35.46 and a 200-day simple moving average of $49.34. CoStar Group, Inc. has a one year low of $31.35 and a one year high of $97.43. The firm has a market cap of $13.33 billion, a P/E ratio of 544.26, a P/E/G ratio of 0.88 and a beta of 0.72. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.20 and a current ratio of 2.20.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.73 million. CoStar Group had a return on equity of 2.90% and a net margin of 0.74%.The business's revenue was up 22.5% compared to the same quarter last year. During the same period last year, the business 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. Equities analysts anticipate that CoStar Group, Inc. will post 1.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Andrew C. Florance acquired 71,430 shares of the stock in a transaction dated Friday, May 1st. The stock was acquired at an average cost of $35.20 per share, for a total transaction of $2,514,336.00. Following the completion of the purchase, the chief executive officer owned 1,722,865 shares of the company's stock, valued at approximately $60,644,848. This represents a 4.33% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.09% of the company's stock.

Analysts Set New Price Targets

CSGP has been the topic of a number of analyst reports. Royal Bank Of Canada lowered their target price on shares of CoStar Group from $75.00 to $57.00 and set a "sector perform" rating on the stock in a research note on Wednesday, February 25th. 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. Wells Fargo & Company reduced their price objective on CoStar Group from $40.00 to $33.00 and set an "underweight" rating on the stock in a research note on Thursday, April 30th. Finally, Zacks Research raised shares of CoStar Group from a "strong sell" rating to a "hold" rating in a report on Monday, March 9th. Thirteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $55.33.

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.

Want to see what other hedge funds are holding CSGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CoStar Group, Inc. (NASDAQ:CSGP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.