CoStar Group, Inc. $CSGP Stake Lowered by Kayne Anderson Rudnick Investment Management LLC

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its holdings in CoStar Group by 8.3%, selling 75,309 shares, which left them with 832,539 shares valued at approximately $65.96 million.
• Analysts are optimistic about CoStar Group, with multiple upgrades raising price targets, including a new target of $105.00 from Stephens and Citigroup increasing theirs to $100.00.
• Insiders at CoStar Group have also sold shares recently, including CAO Cynthia Cammett Cann and Frederick G. Saint, both reducing their ownership by over 7%.

Kayne Anderson Rudnick Investment Management LLC trimmed its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 8.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 832,539 shares of the technology company's stock after selling 75,309 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 0.20% of CoStar Group worth $65,962,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new stake in shares of CoStar Group during the 1st quarter valued at approximately $29,000. Bayforest Capital Ltd bought a new position in shares of CoStar Group in the 1st quarter worth about $29,000. GKV Capital Management Co. Inc. acquired a new position in shares of CoStar Group in the 1st quarter valued at about $31,000. Zions Bancorporation National Association UT bought a new stake in shares of CoStar Group during the 1st quarter valued at about $31,000. Finally, Cullen Frost Bankers Inc. raised its stake in CoStar Group by 137.4% during the first quarter. Cullen Frost Bankers Inc. now owns 406 shares of the technology company's stock worth $32,000 after acquiring an additional 235 shares during the period. 96.60% of the stock is owned by institutional investors.

Insider Buying and Selling at CoStar Group

In other news, insider Frederick G. Saint sold 25,000 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $93.23, for a total transaction of $2,330,750.00. Following the completion of the sale, the insider owned 319,539 shares in the company, valued at approximately $29,790,620.97. This represents a 7.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Cynthia Cammett Cann sold 2,033 shares of CoStar Group stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $92.85, for a total value of $188,764.05. Following the completion of the transaction, the chief accounting officer directly owned 25,771 shares in the company, valued at $2,392,837.35. This represents a 7.31% decrease in their position. The disclosure for this sale can be found here. 1.09% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CSGP has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on CoStar Group from $87.00 to $101.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Citigroup boosted their price objective on CoStar Group from $91.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. William Blair restated an "outperform" rating on shares of CoStar Group in a research note on Wednesday, July 23rd. Needham & Company LLC increased their target price on CoStar Group from $98.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company reiterated an "underweight" rating and issued a $70.00 target price (up from $65.00) on shares of CoStar Group in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $93.25.

CoStar Group Price Performance

Shares of NASDAQ CSGP traded up $0.88 during mid-day trading on Thursday, reaching $90.33. 1,988,958 shares of the company traded hands, compared to its average volume of 2,792,730. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $97.43. The firm has a market cap of $38.27 billion, a PE ratio of 159.73, a price-to-earnings-growth ratio of 4.36 and a beta of 0.85. The stock has a fifty day simple moving average of $87.57 and a 200-day simple moving average of $80.94. 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 (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. CoStar Group had a return on equity of 2.88% and a net margin of 3.57%.The firm had revenue of $781.30 million during the quarter, compared to analyst estimates of $772.06 million. During the same period last year, the company posted $0.15 EPS. The firm's quarterly revenue was up 15.2% on a year-over-year basis. 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 anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal 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.