Driehaus Capital Management LLC Takes $11.73 Million Position in CoStar Group, Inc. $CSGP

Key Points

• Driehaus Capital Management LLC purchased a new stake in CoStar Group, acquiring 147,993 shares valued at approximately $11.7 million in the first quarter of the year.
• Insider selling was reported, with Frederick G. Saint selling 25,000 shares for over $2.3 million, reflecting a decrease in his position by 7.26%.
• Wall Street analysts are optimistic, with multiple firms raising their price targets for CoStar Group, resulting in a consensus rating of "Moderate Buy" and a target price of $93.25.

Driehaus Capital Management LLC acquired a new position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 147,993 shares of the technology company's stock, valued at approximately $11,725,000.

A number of other hedge funds have also recently bought and sold shares of CSGP. Mizuho Markets Americas LLC bought a new stake in shares of CoStar Group during the 1st quarter valued at $586,403,000. Vanguard Group Inc. boosted its position in shares of CoStar Group by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 68,426,711 shares of the technology company's stock worth $5,421,448,000 after purchasing an additional 2,709,320 shares during the last quarter. Nuveen LLC acquired a new stake in shares of CoStar Group during the first quarter worth $82,756,000. Kensico Capital Management Corp bought a new stake in CoStar Group in the fourth quarter valued at about $51,244,000. Finally, Royal Bank of Canada lifted its stake in CoStar Group by 87.4% in the fourth quarter. Royal Bank of Canada now owns 1,452,442 shares of the technology company's stock valued at $103,981,000 after buying an additional 677,222 shares during the period. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Stock Up 0.4%

CSGP traded up $0.35 on Thursday, hitting $88.21. 419,697 shares of the company were exchanged, compared to its average volume of 3,123,155. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.83 and a current ratio of 5.83. The stock's fifty day moving average is $88.45 and its 200-day moving average is $81.43. The company has a market cap of $37.37 billion, a PE ratio of 352.82, a PEG ratio of 4.36 and a beta of 0.87. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $97.43.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. The company had revenue of $781.30 million for the quarter, compared to analysts' expectations of $772.06 million. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%.The business's revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 EPS. CoStar Group has set its FY 2025 guidance at 0.780-0.800 EPS. Q3 2025 guidance at 0.150-0.17 EPS. Equities research analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wolfe Research began coverage on CoStar Group in a research note on Wednesday. They issued an "outperform" rating and a $105.00 price target for the company. JPMorgan Chase & Co. increased their target price on shares of CoStar Group from $87.00 to $101.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Robert W. Baird boosted their price target on shares of CoStar Group from $100.00 to $105.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. BMO Capital Markets upped their price objective on shares of CoStar Group from $82.00 to $89.00 and gave the company a "market perform" rating in a research report on Wednesday, July 23rd. Finally, William Blair reiterated an "outperform" rating on shares of CoStar Group in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $94.15.

Insider Transactions at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 2,033 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $92.85, for a total transaction of $188,764.05. Following the transaction, the chief accounting officer owned 25,771 shares of the company's stock, valued at $2,392,837.35. The trade was a 7.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frederick G. Saint sold 25,000 shares of the firm's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $93.23, for a total value of $2,330,750.00. Following the sale, the insider directly owned 319,539 shares of the company's stock, valued at $29,790,620.97. This represents a 7.26% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 52,033 shares of company stock valued at $4,777,764. Insiders own 1.09% of the company's stock.

About CoStar Group

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.