Meeder Asset Management Inc. Decreases Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Meeder Asset Management Inc. trimmed its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 86.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 13,850 shares of the technology company’s stock after selling 89,426 shares during the quarter. Meeder Asset Management Inc.’s holdings in CoStar Group were worth $992,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC boosted its position in shares of CoStar Group by 9.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 18,176 shares of the technology company’s stock valued at $1,301,000 after buying an additional 1,644 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in CoStar Group by 3.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 329,091 shares of the technology company’s stock valued at $23,477,000 after acquiring an additional 11,038 shares during the period. RWA Wealth Partners LLC boosted its holdings in shares of CoStar Group by 18.8% during the 4th quarter. RWA Wealth Partners LLC now owns 5,430 shares of the technology company’s stock valued at $389,000 after acquiring an additional 859 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of CoStar Group in the fourth quarter worth approximately $291,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of CoStar Group by 117.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 24,577 shares of the technology company’s stock valued at $1,759,000 after purchasing an additional 13,299 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CSGP shares. The Goldman Sachs Group assumed coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating on the stock. Keefe, Bruyette & Woods dropped their price target on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. Royal Bank of Canada reiterated a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a research report on Wednesday, February 19th. Wells Fargo & Company dropped their target price on CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 19th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.07.

CoStar Group Stock Performance

CSGP opened at $79.31 on Monday. The company has a 50 day simple moving average of $76.96 and a two-hundred day simple moving average of $75.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The firm has a market cap of $32.53 billion, a P/E ratio of 226.60 and a beta of 0.93. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $96.98.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The company had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. Equities analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction on Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the sale, the chief accounting officer now directly owns 29,456 shares in the company, valued at approximately $2,353,534.40. The trade was a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.57% of the stock is owned by corporate insiders.

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.