Formula Growth Ltd. Makes New $963,000 Investment in CoStar Group, Inc. $CSGP

Formula Growth Ltd. purchased a new position in CoStar Group, Inc. (NASDAQ:CSGP) in the second quarter, HoldingsChannel reports. The firm purchased 34,000 shares of the technology company’s stock, valued at approximately $963,000.

A number of other institutional investors also recently made changes to their positions in the stock. Jefferies Financial Group Inc. bought a new stake in CoStar Group during the second quarter worth approximately $4,212,000. Public Employees Retirement System of Ohio acquired a new stake in CoStar Group in the second quarter worth approximately $3,315,000. Transamerica Financial Advisors LLC bought a new position in CoStar Group during the 2nd quarter valued at $33,000. Corient Private Wealth LP bought a new position in CoStar Group during the 2nd quarter valued at $2,345,000. Finally, Perennial Investment Advisors LLC acquired a new position in shares of CoStar Group during the 2nd quarter valued at $301,000. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Price Performance

NASDAQ CSGP opened at $31.34 on Friday. The stock has a market capitalization of $12.70 billion, a P/E ratio of 164.96, a P/E/G ratio of 0.85 and a beta of 0.72. CoStar Group, Inc. has a 1 year low of $25.89 and a 1 year high of $91.89. The business’s fifty day moving average is $30.05 and its two-hundred day moving average is $36.00. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.21 and a current ratio of 2.21.

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

Insiders Place Their Bets

In related news, CAO Cynthia Cammett Cann sold 4,788 shares of the stock in a transaction 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 $579,341.16. This trade represents a 20.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Andrew C. Florance purchased 83,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was bought at an average cost of $29.89 per share, for a total transaction of $2,489,837.00. Following the purchase, the chief executive officer directly owned 1,806,165 shares in the company, valued at $53,986,271.85. This represents a 4.83% increase in their position. The SEC filing for this purchase provides additional information. 1.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CSGP shares. Wall Street Zen downgraded CoStar Group from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Citigroup cut CoStar Group from a “market outperform” rating to a “neutral” rating and decreased their target price for the company from $70.00 to $33.00 in a research note on Wednesday, July 29th. Wells Fargo & Company set a $26.00 target price on CoStar Group and gave the stock an “underweight” rating in a report on Wednesday, June 24th. The Goldman Sachs Group reiterated a “buy” rating and issued a $40.00 price target on shares of CoStar Group in a research report on Wednesday, July 29th. Finally, Benchmark began coverage on shares of CoStar Group in a report on Thursday, June 4th. They issued a “buy” rating and a $45.00 price target for the company. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $40.11.

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.