CoStar CEO Andy Florance buys over 70,000 shares

CoStar Group founder and CEO Andy Florance purchased over 70,000 securities belonging to his firm last Friday. 

A Form 4 filed with the Securities and Exchange Commission on Monday shows that Florance purchased non-derivative securities from the open market. 

According to the filing, Florance acquired a total of 71,430 securities via two transactions, one which included 68,330 securities and a second that included 3,100 securities. The securities ranged in price from $34.67 to $36.00 per security. In total, Florance now directly owns 1,772,865.03 securities of CoStar Group. 

Last week, CoStar Group announced that it had delivered its 60th consecutive quarter of double-digit revenue growth, with revenue rising 23% annually to $897 million in Q1 2026. The firm also reported $3 million in net income, compared to a $15 million net loss a year ago. 

During the call, Florance addressed the activist investor campaign waged by investors Third Point and DE Shaw over the past year due to Homes.com’s slow growth and the weaker performance of CoStar’s core commercial real estate business. 

“[The activist campaign] over the last year did weigh heavily on Homes.com sales and potential partnerships,” he said. “Real estate leaders were reading a steady drumbeat of negative coverage. Nonetheless, we made durable progress through it.

“With that distraction now behind us, we can now apply even more focused energy to accelerating Homes.com revenue and the revenue in every other business in the portfolio.”

In early April, Third Point sold its CoStar shares. It remains to be seen what DE Shaw will do with its shares.