Riverbridge Partners LLC Sells 225,155 Shares of CoStar Group, Inc. $CSGP

Key Points

• Riverbridge Partners LLC reduced its CoStar Group stake by 15.5% in Q1, selling 225,155 shares and leaving it with 1,227,391 shares valued at about $49.5 million.
• Wall Street sentiment is mixed but generally positive: analysts have a “Moderate Buy” consensus with an average price target of $55.33, though several firms recently cut targets and some still rate the stock Sell or Neutral.
• CoStar Group beat Q1 earnings expectations, reporting EPS of $0.23 versus $0.18 expected and revenue of $897 million, up 22.5% year over year; CEO Andrew C. Florance also bought 71,430 shares in early May.

Riverbridge Partners LLC decreased its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 15.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,227,391 shares of the technology company's stock after selling 225,155 shares during the quarter. CoStar Group makes up approximately 1.2% of Riverbridge Partners LLC's holdings, making the stock its 26th largest holding. Riverbridge Partners LLC owned about 0.29% of CoStar Group worth $49,513,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Reflection Asset Management bought a new stake in shares of CoStar Group during the fourth quarter worth $27,000. Lloyd Advisory Services LLC. bought a new position in CoStar Group in the fourth quarter valued at about $29,000. DV Equities LLC bought a new position in CoStar Group in the fourth quarter valued at about $40,000. IFP Advisors Inc increased its position in CoStar Group by 329.4% in the fourth quarter. IFP Advisors Inc now owns 614 shares of the technology company's stock worth $41,000 after purchasing an additional 471 shares during the period. Finally, Rossby Financial LCC increased its position in CoStar Group by 47.5% in the third quarter. Rossby Financial LCC now owns 503 shares of the technology company's stock worth $42,000 after purchasing an additional 162 shares during the period. 96.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on CSGP. Zacks Research upgraded shares of CoStar Group from a "strong sell" rating to a "hold" rating in a research report on Monday, March 9th. Weiss Ratings reissued a "sell (d)" rating on shares of CoStar Group in a research note on Friday, March 27th. Needham & Company LLC cut their price objective on shares of CoStar Group from $60.00 to $50.00 and set a "buy" rating on the stock in a report on Wednesday, April 29th. Robert W. Baird reduced their price objective on shares of CoStar Group from $73.00 to $56.00 and set an "outperform" rating on the stock in a research note on Monday, April 13th. Finally, Bank of America lowered their target price on shares of CoStar Group from $42.00 to $37.00 and set a "neutral" rating for the company in a report on Tuesday, May 19th. Thirteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $55.33.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $30.26 on Wednesday. The stock's fifty day simple moving average is $34.15 and its 200 day simple moving average is $47.23. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $12.36 billion, a PE ratio of 504.42, a PEG ratio of 0.75 and a beta of 0.72. CoStar Group, Inc. has a 12 month low of $29.08 and a 12 month high of $97.43.

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, topping the consensus estimate 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 the consensus estimate of $896.73 million. During the same period in the prior year, the company earned ($0.04) earnings per share. The company's revenue for the quarter was up 22.5% compared to the same quarter last year. 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, research analysts predict that CoStar Group, Inc. will post 1.03 EPS for the current year.

Insider Activity

In related news, CEO Andrew C. Florance acquired 71,430 shares of the company's stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average cost of $35.20 per share, for a total transaction of $2,514,336.00. Following the completion of the acquisition, the chief executive officer directly 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.18% of the stock is owned by corporate insiders.

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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