Principal Financial Group Inc. Raises Holdings in CoStar Group, Inc. $CSGP

Key Points

• Principal Financial Group increased its stake in CoStar Group by 0.7% in the first quarter, holding 17.7 million shares worth about $713.9 million and representing roughly 4.22% of the company.
• CoStar Group’s latest quarterly results beat earnings expectations, with EPS of $0.23 versus the $0.18 consensus and revenue of $897 million, up 22.5% year over year.
• Analysts remain mixed on the stock: the overall rating is “Moderate Buy”, but several firms have recently cut price targets, and the average target price is now $52.72.

Principal Financial Group Inc. boosted its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,696,192 shares of the technology company's stock after purchasing an additional 130,118 shares during the period. Principal Financial Group Inc. owned about 4.22% of CoStar Group worth $713,866,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bamco Inc. NY grew its holdings in shares of CoStar Group by 1.3% in the fourth quarter. Bamco Inc. NY now owns 19,498,099 shares of the technology company's stock worth $1,311,052,000 after purchasing an additional 242,533 shares during the last quarter. State Street Corp raised its holdings 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 valued at $1,252,839,000 after buying an additional 348,224 shares during the last quarter. Baillie Gifford & Co. boosted its position in CoStar Group by 56.9% during the 4th quarter. Baillie Gifford & Co. now owns 12,933,185 shares of the technology company's stock valued at $869,627,000 after buying an additional 4,691,543 shares during the period. Capital International Investors boosted its position in CoStar Group by 59.7% during the 4th quarter. Capital International Investors now owns 10,842,010 shares of the technology company's stock valued at $729,020,000 after buying an additional 4,053,456 shares during the period. Finally, Akre Capital Management LLC grew its holdings in CoStar Group by 3.3% in the 4th quarter. Akre Capital Management LLC now owns 9,617,805 shares of the technology company's stock worth $646,701,000 after acquiring an additional 311,320 shares during the last quarter. Institutional investors own 96.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CSGP shares. JPMorgan Chase & Co. decreased their price objective on shares of CoStar Group from $82.00 to $70.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 29th. Stephens cut their target price on CoStar Group from $50.00 to $42.00 and set an "overweight" rating on the stock in a research note on Monday, May 4th. Weiss Ratings restated a "sell (d)" rating on shares of CoStar Group in a report on Wednesday, June 24th. Wall Street Zen lowered CoStar Group from a "buy" rating to a "hold" rating in a research report on Sunday. Finally, Citizens Jmp cut their price objective on CoStar Group from $73.00 to $44.00 and set a "market outperform" rating on the stock in a research report on Wednesday, April 29th. Thirteen investment 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $52.72.

CoStar Group Trading Up 1.3%

CSGP opened at $28.77 on Tuesday. The stock has a market cap of $11.75 billion, a PE ratio of 479.58, a PEG ratio of 0.73 and a beta of 0.74. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $31.82 and a 200-day moving average of $43.57. CoStar Group, Inc. has a 52 week low of $28.09 and a 52 week high of $97.43.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The technology company reported $0.23 earnings per share for the quarter, topping the consensus estimate 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%.The firm's revenue for the quarter was up 22.5% on a year-over-year basis. During the same period in the prior 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. Equities research 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 CoStar Group stock in a transaction dated Friday, May 1st. The shares were purchased at an average cost of $35.20 per share, with a total value of $2,514,336.00. Following the transaction, the chief executive officer directly owned 1,722,865 shares of the company's stock, valued at $60,644,848. This represents a 4.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.18% of the company's stock.

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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