Bank of New York Mellon Corp Purchases New Position in CoStar Group, Inc. $CSGP

Bank of New York Mellon Corp purchased a new stake in CoStar Group, Inc. (NASDAQ:CSGP) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,005,395 shares of the technology company’s stock, valued at approximately $56,793,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of CoStar Group by 83.4% in the fourth quarter. Barclays PLC now owns 2,321,700 shares of the technology company’s stock worth $156,111,000 after acquiring an additional 1,055,584 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in CoStar Group by 100.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 245,184 shares of the technology company’s stock valued at $16,486,000 after purchasing an additional 122,776 shares during the last quarter. SVB Wealth LLC boosted its position in CoStar Group by 98.3% during the fourth quarter. SVB Wealth LLC now owns 66,410 shares of the technology company’s stock valued at $4,465,000 after purchasing an additional 32,923 shares during the last quarter. Stephens Investment Management Group LLC grew its stake in CoStar Group by 45.5% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,114,972 shares of the technology company’s stock valued at $74,971,000 after purchasing an additional 348,460 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in CoStar Group by 4.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,057,184 shares of the technology company’s stock valued at $69,446,000 after purchasing an additional 49,657 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CSGP shares. BTIG Research cut their price target on CoStar Group from $55.00 to $42.00 and set a “buy” rating for the company in a research note on Wednesday, July 29th. Wolfe Research reissued an “outperform” rating and issued a $32.00 price target (down from $35.00) on shares of CoStar Group in a research note on Wednesday, July 29th. Wells Fargo & Company set a $26.00 price objective on CoStar Group and gave the stock an “underweight” rating in a report on Wednesday, June 24th. KeyCorp set a $33.00 price objective on shares of CoStar Group in a research report on Monday. Finally, Stephens reduced their target price on shares of CoStar Group from $50.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, CoStar Group has an average rating of “Hold” and a consensus target price of $40.11.

Insider Buying and Selling

In other news, CEO Andrew C. Florance acquired 83,300 shares of CoStar Group stock in a transaction dated Tuesday, August 4th. The stock was acquired 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 owned 1,806,165 shares of the company’s stock, valued at $53,986,271.85. This represents a 4.83% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Cynthia Cammett Cann sold 4,788 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $30.78, for a total transaction of $147,374.64. Following the sale, the chief accounting officer directly owned 18,822 shares of the company’s stock, valued at approximately $579,341.16. This represents a 20.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.18% of the company’s stock.

CoStar Group Stock Performance

CSGP opened at $32.14 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.21 and a current ratio of 2.21. The company has a market cap of $13.02 billion, a PE ratio of 169.17, a price-to-earnings-growth ratio of 0.86 and a beta of 0.72. The stock has a 50-day moving average of $30.03 and a 200-day moving average of $36.13. CoStar Group, Inc. has a 52-week low of $25.89 and a 52-week high of $91.89.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, July 28th. The technology company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. CoStar Group had a return on equity of 3.74% and a net margin of 2.08%.The business had revenue of $925.00 million for the quarter, compared to the consensus estimate of $928.81 million. During the same period last year, the business earned $0.17 EPS. The firm’s revenue was up 18.4% compared to the same quarter last year. 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, equities research analysts forecast that CoStar Group, Inc. will post 1.06 earnings per share for the current fiscal year.

About CoStar Group

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.