Meeder Asset Management Inc. Sells 89,426 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

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

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hopwood Financial Services Inc. bought a new stake in shares of CoStar Group during the 4th quarter valued at about $25,000. ORG Partners LLC lifted its position in CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after purchasing an additional 353 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in CoStar Group in the 4th quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of CoStar Group in the 4th quarter worth $32,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its position in shares of CoStar Group by 17,100.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock valued at $37,000 after buying an additional 513 shares in the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $79.31 on Monday. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $96.98. The stock has a market capitalization of $32.53 billion, a P/E ratio of 226.60 and a beta of 0.93. The company’s 50-day moving average is $76.96 and its 200 day moving average is $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.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. The company had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. On average, sell-side analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at approximately $2,353,534.40. This trade represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CSGP. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Keefe, Bruyette & Woods reduced their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. Stephens restated an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a research report on Tuesday, February 18th. Royal Bank of Canada reiterated a “sector perform” rating and set a $83.00 price target on shares of CoStar Group in a research report on Wednesday, February 19th. Finally, Craig Hallum began coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.07.

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.