Tiger Global Management LLC Cuts Position in CoStar Group, Inc. $CSGP

Key Points

• Tiger Global Management cut its CoStar Group position by 33.6% in the first quarter, selling 759,109 shares and ending with 1.5 million shares worth about $60.5 million.
• CoStar reported better-than-expected Q1 earnings of $0.23 per share on revenue of $897 million, with revenue up 22.5% year over year. The company also guided for Q2 2026 EPS of 0.270-0.300 and FY 2026 EPS of 1.320-1.390.
• Analysts remain mixed but generally positive: the stock has a Moderate Buy consensus and an average price target of $51.50, while CoStar shares were recently trading near 52-week lows around $27.66.

Tiger Global Management LLC lessened its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 33.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,500,000 shares of the technology company's stock after selling 759,109 shares during the period. Tiger Global Management LLC owned 0.37% of CoStar Group worth $60,510,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of CoStar Group during the 4th quarter worth approximately $476,765,000. Baillie Gifford & Co. grew its holdings 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 last quarter. Capital International Investors increased its position in CoStar Group by 59.7% during the fourth quarter. Capital International Investors now owns 10,842,010 shares of the technology company's stock worth $729,020,000 after buying an additional 4,053,456 shares in the last quarter. Viking Global Investors LP purchased a new position in CoStar Group during the second quarter worth $258,773,000. Finally, Goldman Sachs Group Inc. increased its position in CoStar Group by 70.9% during the fourth 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 in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Stock Performance

CoStar Group stock opened at $27.66 on Friday. The firm has a market capitalization of $11.30 billion, a P/E ratio of 461.08, a PEG ratio of 0.71 and a beta of 0.74. The stock has a fifty day moving average price of $30.98 and a 200 day moving average price of $41.31. CoStar Group, Inc. has a 52 week low of $26.68 and a 52 week high of $97.43. 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 (NASDAQ:CSGP - Get Free Report) last released its 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 firm 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 firm's revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($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 anticipate that CoStar Group, Inc. will post 1.03 earnings per share for the current year.

Analysts Set New Price Targets

CSGP has been the topic of several recent research reports. The Goldman Sachs Group set a $46.00 price objective on CoStar Group and gave the company a "buy" rating in a research report on Thursday, June 25th. Weiss Ratings reiterated a "sell (d)" rating on shares of CoStar Group in a research report on Wednesday, June 24th. Needham & Company LLC cut their target price on shares of CoStar Group from $60.00 to $50.00 and set a "buy" rating for the company in a research note on Wednesday, April 29th. JPMorgan Chase & Co. reduced their target price on shares of CoStar Group from $82.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Finally, Robert W. Baird set a $34.00 price target on shares of CoStar Group and gave the stock a "neutral" rating in a research note on Tuesday, July 14th. Twelve research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $51.50.

Insider Activity

In related news, CEO Andrew C. Florance bought 71,430 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average cost of $35.20 per share, with a total value of $2,514,336.00. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.18% of the company's stock.

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.

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.