3,458 Shares in CoStar Group, Inc. (NASDAQ:CSGP) Acquired by Merit Financial Group LLC

Merit Financial Group LLC bought a new position in CoStar Group, Inc. (NASDAQ:CSGP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,458 shares of the technology company’s stock, valued at approximately $248,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vulcan Value Partners LLC raised its stake in shares of CoStar Group by 90.1% during the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock valued at $306,831,000 after acquiring an additional 1,961,917 shares during the last quarter. Barclays PLC increased its holdings in CoStar Group by 91.4% during the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after purchasing an additional 1,073,793 shares during the period. JPMorgan Chase & Co. raised its position in CoStar Group by 73.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after purchasing an additional 1,001,177 shares during the last quarter. State Street Corp lifted its holdings in CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after buying an additional 722,153 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of CoStar Group in the 3rd quarter worth approximately $48,768,000. 96.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.57% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on CSGP. William Blair restated an “outperform” rating on shares of CoStar Group in a report on Monday, January 6th. BMO Capital Markets dropped their target price on shares of 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. Citigroup reduced their price target on shares of CoStar Group from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of CoStar Group in a report on Monday, December 9th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $83.00 target price on shares of CoStar Group in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, CoStar Group presently has an average rating of “Moderate Buy” and a consensus target price of $92.92.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $74.16 on Friday. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. The firm’s 50-day moving average is $74.62 and its 200 day moving average is $75.35. The stock has a market cap of $30.40 billion, a price-to-earnings ratio of 168.55 and a beta of 0.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63.

CoStar Group Company 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.