VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Holdings in CoStar Group, Inc. $CSGP

Key Points

• Virginia Retirement Systems acquired 170,800 CoStar Group shares worth approximately $4.68 million during the third quarter. Institutional investors collectively own 96.6% of CSGP.
• CoStar exceeded quarterly expectations, reporting EPS of $0.38 versus $0.34 expected and revenue of $952 million, up 14.1% year over year.
• Analyst sentiment remains mixed: Needham reaffirmed a Buy rating, while several firms maintained Hold or Market Perform ratings; the consensus rating is Hold with a $39.11 target price.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 170,800 shares of the technology company's stock, valued at approximately $4,680,000.

Several other large investors have also recently bought and sold shares of CSGP. Transamerica Financial Advisors LLC bought a new position in shares of CoStar Group in the second quarter worth $33,000. Pin Oak Investment Advisors Inc. purchased a new position in CoStar Group during the second quarter worth about $47,000. CYBER HORNET ETFs LLC increased its stake in CoStar Group by 50.8% in the 2nd quarter. CYBER HORNET ETFs LLC now owns 1,757 shares of the technology company's stock worth $50,000 after acquiring an additional 592 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of CoStar Group in the 3rd quarter valued at about $48,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in CoStar Group during the second quarter valued at approximately $59,000. 96.60% of the stock is owned by institutional investors.

Key CoStar Group News

Here are the key news stories impacting CoStar Group this week:

• Positive Sentiment: Needham & Company initiated or reaffirmed a Buy rating on CoStar Group, providing support for the stock’s long-term growth outlook. CoStar Group Earns Buy Rating from Needham
• Positive Sentiment: Wells Fargo raised its price target for CSGP, signaling increased confidence in the company’s earnings potential and valuation despite recent weakness. Wells Fargo Raises CoStar Price Target
• Positive Sentiment: CoStar upgraded its U.S. office-market forecast, citing expectations for improved rent growth and lower vacancy rates. A stronger commercial real-estate recovery could support demand for CoStar’s information and analytics products. CoStar Upgrades U.S. Office Forecast
• Positive Sentiment: CoStar data indicated solid demand for four-star office space in London’s City Core, while prime-space vacancy was only 2.1%. The report reinforces the company’s value as a source of commercial property market intelligence. CoStar London Office Demand Report
• Neutral Sentiment: KBW and Bank of America each maintained Hold ratings, indicating analysts see a balanced risk-reward profile rather than a clear near-term catalyst. KBW Maintains Hold Rating Bank of America Maintains Hold Rating
• Neutral Sentiment: Homes.com highlighted high-value residential transactions across major U.S. markets. The publication raises brand visibility but has limited direct financial impact. Homes.com Luxury Home Sales Analysis
• Negative Sentiment: JPMorgan issued a pessimistic forecast for CSGP, adding to concerns about valuation, execution and the pace at which recent investments may translate into profits. JPMorgan Pessimistic CoStar Forecast
• Negative Sentiment: The stock fell below its 50-day moving average following an analyst downgrade, a potentially bearish technical signal that may encourage additional selling. CoStar Shares Cross Below 50-Day Average
• Negative Sentiment: Shares retreated sharply after earnings and news of the Vexcel acquisition. Investors appear concerned about acquisition costs, integration risk and the effect of the deal on near-term earnings, despite CoStar’s reported revenue and earnings beating consensus estimates. CoStar Retreats After Earnings and Vexcel Deal
• Negative Sentiment: October U.S. apartment rents declined 0.15% month over month to $1,749, a second consecutive monthly decrease. Softer multifamily conditions could weigh on sentiment toward CoStar’s residential-market businesses, although annual rent growth remained positive. Apartments.com October Rent Growth Report

Analyst Upgrades and Downgrades

CSGP has been the subject of several research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $40.00 target price on shares of CoStar Group in a research note on Wednesday, October 28th. Wells Fargo & Company set a $35.00 price target on CoStar Group in a research report on Wednesday. Wall Street Zen cut CoStar Group from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. The Goldman Sachs Group set a $36.00 price objective on shares of CoStar Group in a research note on Wednesday. Finally, BMO Capital Markets reissued a "market perform" rating and set a $33.00 target price (up from $31.00) on shares of CoStar Group in a research note on Monday, August 24th. Ten investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $39.11.

Insider Activity

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

CoStar Group Price Performance

NASDAQ:CSGP opened at $30.17 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market cap of $12.14 billion, a P/E ratio of 68.57, a P/E/G ratio of 0.76 and a beta of 0.79. CoStar Group, Inc. has a fifty-two week low of $25.89 and a fifty-two week high of $70.63. The firm has a 50-day simple moving average of $30.33 and a two-hundred day simple moving average of $36.95.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its earnings results on Tuesday, October 27th. The technology company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. The firm had revenue of $952.00 million for the quarter, compared to the consensus estimate of $945.82 million. CoStar Group had a net margin of 4.87% and a return on equity of 4.87%. The business's revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 earnings per share. Analysts predict that CoStar Group, Inc. will post 1.12 earnings per share for the current fiscal year.

CoStar Group Profile

CoStar Group, Inc is a provider of information, analytics, and online marketplaces for the commercial and residential real estate industries. The company collects, analyzes, and distributes property and market data to real estate professionals, investors, lenders, and other businesses.

Its brands and services include CoStar, which offers commercial real estate data and research; LoopNet, a marketplace for commercial property listings; Apartments.com, a rental housing marketplace; and Homes.com, a residential real estate platform.

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