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

Meeder Asset Management Inc. grew its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 978.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 103,276 shares of the technology company's stock after acquiring an additional 93,704 shares during the period. Meeder Asset Management Inc.'s holdings in CoStar Group were worth $7,791,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Picton Mahoney Asset Management lifted its position in shares of CoStar Group by 2.9% during the 2nd quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company's stock valued at $352,000 after acquiring an additional 135 shares during the period. Bleakley Financial Group LLC lifted its position in shares of CoStar Group by 1.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company's stock valued at $652,000 after acquiring an additional 138 shares during the period. S.E.E.D. Planning Group LLC lifted its position in shares of CoStar Group by 0.5% during the 2nd quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company's stock valued at $2,688,000 after acquiring an additional 172 shares during the period. Elo Mutual Pension Insurance Co lifted its position in shares of CoStar Group by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company's stock valued at $2,780,000 after acquiring an additional 188 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of CoStar Group by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 35,075 shares of the technology company's stock valued at $2,600,000 after acquiring an additional 210 shares during the period. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Trading Down 1.7 %

Shares of NASDAQ CSGP traded down $1.26 during trading on Tuesday, hitting $72.09. 2,026,206 shares of the company traded hands, compared to its average volume of 2,387,932. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. The company has a 50-day moving average price of $75.56 and a 200-day moving average price of $77.08. The firm has a market capitalization of $29.55 billion, a P/E ratio of 163.84 and a beta of 0.82. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The company had revenue of $692.60 million during the quarter, compared to analysts' expectations of $695.91 million. During the same period in the previous year, the company earned $0.25 EPS. The business's quarterly revenue was up 10.9% compared to the same quarter last year. On average, equities analysts predict that CoStar Group, Inc. will post 0.52 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CSGP shares. Needham & Company LLC restated a "buy" rating and set a $100.00 price objective on shares of CoStar Group in a research report on Tuesday. Citigroup cut their price objective on CoStar Group from $97.00 to $90.00 and set a "buy" rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada downgraded CoStar Group from an "outperform" rating to a "sector perform" rating and cut their price objective for the stock from $96.00 to $83.00 in a research report on Wednesday, October 23rd. BMO Capital Markets cut their price objective on CoStar Group from $78.00 to $75.00 and set a "market perform" rating for the company in a research report on Thursday, October 24th. Finally, StockNews.com downgraded CoStar Group from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, CoStar Group currently has an average rating of "Moderate Buy" and a consensus price target of $93.25.

Insider Buying and Selling

In other CoStar Group news, CEO Andrew C. Florance purchased 14,731 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The stock was purchased at an average cost 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 approximately $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael R. Klein sold 71,633 shares of the company's stock in a transaction 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 ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is owned by corporate insiders.

CoStar Group Profile

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.