Hahn Capital Management LLC Sells 5,891 Shares of CoStar Group, Inc. $CSGP

Key Points

• Hahn Capital Management LLC sold 5,891 shares of CoStar Group, reducing its stake by 8.5%, with the total value of its remaining holdings at approximately $5 million.
• Analysts have raised price targets for CoStar Group, with JPMorgan Chase setting a new target of $101, indicating positive market sentiment and an overall rating of "overweight."
• CoStar Group reported a 15.2% year-over-year increase in revenue for its latest quarter, achieving earnings per share of $0.17, surpassing analysts' expectations.

Hahn Capital Management LLC lowered its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 8.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,214 shares of the technology company's stock after selling 5,891 shares during the quarter. CoStar Group makes up 2.4% of Hahn Capital Management LLC's investment portfolio, making the stock its 23rd largest holding. Hahn Capital Management LLC's holdings in CoStar Group were worth $5,008,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of CoStar Group by 4.1% during the first quarter. Vanguard Group Inc. now owns 68,426,711 shares of the technology company's stock valued at $5,421,448,000 after buying an additional 2,709,320 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of CoStar Group by 6.6% in the 1st quarter. Baillie Gifford & Co. now owns 8,436,199 shares of the technology company's stock valued at $668,400,000 after purchasing an additional 524,601 shares during the period. Mizuho Markets Americas LLC acquired a new position in shares of CoStar Group in the 1st quarter valued at about $586,403,000. Polen Capital Management LLC lifted its position in shares of CoStar Group by 1.6% in the first quarter. Polen Capital Management LLC now owns 6,601,800 shares of the technology company's stock worth $523,061,000 after purchasing an additional 104,612 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of CoStar Group by 1.7% during the first quarter. Invesco Ltd. now owns 4,305,556 shares of the technology company's stock worth $341,129,000 after purchasing an additional 70,561 shares during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 2,033 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $92.85, for a total transaction of $188,764.05. Following the completion of the sale, the chief accounting officer directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Frederick G. Saint sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $90.33, for a total transaction of $2,258,250.00. Following the completion of the transaction, the insider directly owned 293,103 shares in the company, valued at approximately $26,475,993.99. The trade was a 7.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,033 shares of company stock valued at $4,777,764 over the last three months. Insiders own 1.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada increased their target price on shares of CoStar Group from $83.00 to $91.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Needham & Company LLC increased their price objective on CoStar Group from $98.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. BMO Capital Markets upped their target price on CoStar Group from $82.00 to $89.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 23rd. Citigroup raised their price target on CoStar Group from $91.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company reissued an "underweight" rating and issued a $70.00 price target (up previously from $65.00) on shares of CoStar Group in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $94.15.

CoStar Group Price Performance

Shares of CSGP stock traded up $1.50 during trading hours on Wednesday, hitting $89.63. 572,814 shares of the company's stock were exchanged, compared to its average volume of 3,082,159. The stock's 50-day moving average is $89.60 and its 200-day moving average is $82.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.83 and a quick ratio of 5.83. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $97.43. The stock has a market cap of $37.97 billion, a price-to-earnings ratio of 358.51, a price-to-earnings-growth ratio of 4.10 and a beta of 0.87.

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

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.