Meeder Asset Management Inc. Raises Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Meeder Asset Management Inc. raised its position in CoStar Group, Inc. (NASDAQ:CSGP) by 978.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,276 shares of the technology company’s stock after acquiring an additional 93,704 shares during the quarter. Meeder Asset Management Inc.’s holdings in CoStar Group were worth $7,791,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CSGP. Crewe Advisors LLC purchased a new stake in shares of CoStar Group during the 1st quarter worth approximately $31,000. Ashton Thomas Securities LLC purchased a new stake in shares of CoStar Group during the 3rd quarter worth approximately $40,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of CoStar Group during the 2nd quarter worth approximately $49,000. Quarry LP purchased a new stake in shares of CoStar Group during the 2nd quarter worth approximately $54,000. Finally, Covestor Ltd lifted its position in shares of CoStar Group by 43.0% during the 1st quarter. Covestor Ltd now owns 702 shares of the technology company’s stock worth $68,000 after buying an additional 211 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CSGP. Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $96.00 to $83.00 in a report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group cut their target price on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Robert W. Baird cut their target price on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Finally, StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, CoStar Group currently has an average rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $73.35 on Tuesday. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm’s fifty day simple moving average is $75.70 and its 200-day simple moving average is $77.21. The stock has a market cap of $30.07 billion, a PE ratio of 166.71 and a beta of 0.82.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS. Analysts expect that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Transactions at CoStar Group

In other CoStar Group news, CEO Andrew C. Florance bought 14,731 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was purchased at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the transaction, the chief executive officer now owns 1,263,098 shares in the company, valued at $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the sale, the director now directly owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.57% 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.