CoStar CEO Purchases $2.5M Shares Post-Activist Exit

CEO Andy Florance bought $2.5 million of CoStar shares on May 1, raising his total open‑market purchases to over $5 million YTD.
The purchase follows Third Point’s April 10 exit, ending a proxy‑contest threat after activist Dan Loeb urged focus on core commercial real estate.
CoStar reported Q1 revenue of $897 million (+23% YoY) and adjusted EBITDA of $132 million, doubling year‑over‑year, supporting the CEO’s confidence.
CoStar shares rose 1.6% despite a 32% drop over three months and a 54% decline over the past year, reflecting valuation concerns.