VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $4.68 Million Investment in CoStar Group, Inc. $CSGP

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in CoStar Group, Inc. (NASDAQ:CSGP) during the third quarter, HoldingsChannel reports. The fund bought 170,800 shares of the technology company’s stock, valued at approximately $4,680,000.

A number of other hedge funds also recently made changes to their positions in CSGP. BlackRock Inc. purchased a new stake in CoStar Group in the 2nd quarter worth approximately $957,612,000. Principal Financial Group Inc. lifted its holdings in CoStar Group by 0.7% during the first quarter. Principal Financial Group Inc. now owns 17,696,192 shares of the technology company’s stock valued at $713,866,000 after purchasing an additional 130,118 shares in the last quarter. Bamco Inc. NY purchased a new position in CoStar Group during the second quarter valued at approximately $612,470,000. Janus Henderson Group PLC lifted its holdings in CoStar Group by 3.4% during the first quarter. Janus Henderson Group PLC now owns 7,724,152 shares of the technology company’s stock valued at $311,586,000 after purchasing an additional 250,772 shares in the last quarter. Finally, Jupiter Topco LLC bought a new position in shares of CoStar Group in the second quarter worth approximately $221,826,000. 96.60% of the stock is currently 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

CoStar Group Stock Performance

Shares of NASDAQ CSGP opened at $30.17 on Monday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.12. CoStar Group, Inc. has a 12 month low of $25.89 and a 12 month high of $70.63. The company has a 50 day simple moving average of $30.33 and a two-hundred day simple moving average of $36.95. The stock has a market cap of $12.14 billion, a price-to-earnings ratio of 68.57, a PEG ratio of 0.76 and a beta of 0.79.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, October 27th. The technology company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.34 by $0.04. The business 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 for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 EPS. As a group, analysts predict that CoStar Group, Inc. will post 1.12 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CSGP shares. BMO Capital Markets reissued a “market perform” rating and issued a $33.00 price objective (up from $31.00) on shares of CoStar Group in a research note on Monday, August 24th. Wolfe Research reiterated 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of CoStar Group in a report on Wednesday, October 28th. Citizens Jmp reduced their target price on shares of CoStar Group from $44.00 to $35.00 and set a “market outperform” rating on the stock in a report on Wednesday, July 29th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of CoStar Group in a research note on Wednesday. Ten investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $39.11.

Insiders Place Their Bets

In other CoStar Group news, CAO Cynthia Cammett Cann sold 4,788 shares of CoStar Group stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $30.78, for a total transaction 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. This trade represents a 20.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Andrew C. Florance acquired 83,300 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was bought at an average cost of $29.89 per share, with a total value of $2,489,837.00. Following the acquisition, the chief executive officer owned 1,806,165 shares in the company, valued at approximately $53,986,271.85. This trade represents a 4.83% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.18% of the company’s stock.

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.