Spyglass Capital Management LLC Buys 1,583,473 Shares of CoStar Group, Inc. $CSGP

Key Points

• Spyglass Capital Management increased its CoStar Group stake by 142.5%, buying 1.58 million additional shares to own 2.69 million shares valued at approximately $76.3 million. Institutional investors collectively own 96.6% of the company.
• Analyst sentiment is mixed: CoStar has a consensus “Hold” rating and an average price target of $40.11, while several firms recently lowered their targets to between $33 and $42.
• CoStar reported quarterly EPS of $0.32, exceeding estimates of $0.29, while revenue rose 18.4% year over year to $925 million. The stock opened at $32.07, well below its 12-month high of $91.89.

Spyglass Capital Management LLC increased its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 142.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,694,697 shares of the technology company's stock after purchasing an additional 1,583,473 shares during the period. CoStar Group makes up 4.1% of Spyglass Capital Management LLC's holdings, making the stock its 10th biggest holding. Spyglass Capital Management LLC owned 0.67% of CoStar Group worth $76,314,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Reflection Asset Management acquired a new position in shares of CoStar Group in the 4th quarter valued at approximately $27,000. Lloyd Advisory Services LLC. acquired a new position in CoStar Group during the fourth quarter valued at approximately $29,000. Transamerica Financial Advisors LLC acquired a new position in CoStar Group during the second quarter valued at approximately $33,000. DV Equities LLC bought a new stake in CoStar Group during the fourth quarter worth $40,000. Finally, IFP Advisors Inc lifted its stake in CoStar Group by 329.4% during 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 last quarter. Institutional investors own 96.60% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CSGP. BTIG Research decreased their price target on CoStar Group from $55.00 to $42.00 and set a "buy" rating on the stock in a research note on Wednesday, July 29th. Weiss Ratings reissued a "sell (d)" rating on shares of CoStar Group in a report on Wednesday, June 24th. Stephens cut their price objective on CoStar Group from $50.00 to $42.00 and set an "overweight" rating on the stock in a report on Monday, May 4th. KeyCorp set a $33.00 target price on shares of CoStar Group in a report on Monday, August 24th. Finally, Needham & Company LLC reduced their price target on CoStar Group from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, July 29th. Nine analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, CoStar Group currently has a consensus rating of "Hold" and a consensus target price of $40.11.

Insider Transactions at CoStar Group

In other news, CEO Andrew C. Florance purchased 83,300 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The shares were acquired at an average cost of $29.89 per share, with a total value of $2,489,837.00. Following the purchase, the chief executive officer owned 1,806,165 shares in the company, valued at $53,986,271.85. This represents a 4.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Cynthia Cammett Cann sold 4,788 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $30.78, for a total value of $147,374.64. Following the completion of the transaction, the chief accounting officer owned 18,822 shares in the company, valued at approximately $579,341.16. The trade was a 20.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.18% of the stock is owned by corporate insiders.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $32.07 on Tuesday. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a twelve month low of $25.89 and a twelve month high of $91.89. The company has a fifty day moving average of $30.15 and a 200-day moving average of $35.73. The firm has a market capitalization of $12.99 billion, a P/E ratio of 168.80, a P/E/G ratio of 0.85 and a beta of 0.72.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its earnings results on Tuesday, July 28th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. CoStar Group had a net margin of 2.08% and a return on equity of 3.74%. The business had revenue of $925.00 million for the quarter, compared to analyst estimates of $928.81 million. During the same period in the prior year, the firm earned $0.17 earnings per share. CoStar Group's revenue was up 18.4% on a year-over-year basis. CoStar Group has set its Q3 2026 guidance at 0.310-0.340 EPS and its FY 2026 guidance at 1.320-1.390 EPS. As a group, sell-side analysts anticipate that CoStar Group, Inc. will post 1.06 EPS for the current year.

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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