SoFi CEO enters prepaid forward contract on 1.5 million shares
Corsair Gaming, Inc. (NASDAQ:CRSR) Chief Financial Officer Michael G. Potter has sold 4,124 shares of the company’s common stock, according to a recent filing with the Securities and Exchange Commission. The shares were sold at a price of $10.08 each, amounting to a total transaction value of $41,569. The gaming peripherals maker, currently valued at approximately $1.1 billion, has seen its stock surge nearly 50% over the past six months, according to InvestingPro data.
Following the sale, Potter retains ownership of 125,650 shares in the company. This transaction was executed as part of a pre-established Rule 10b5-1 trading plan, which was adopted by Potter in December 2024. While the stock has shown significant volatility, InvestingPro analysis reveals that analysts are optimistic about the company’s prospects, with forecasts pointing to profitability this year. InvestingPro subscribers have access to 8 additional key insights about Corsair Gaming, along with comprehensive financial metrics and valuation analysis.
In other recent news, Corsair Gaming reported its Q4 2024 earnings, revealing a revenue of $413.6 million, which exceeded the forecast of $396.89 million. However, the company’s earnings per share (EPS) slightly missed expectations, coming in at $0.23 against the anticipated $0.24. The revenue beat highlights strong sales performance, though the EPS miss raises concerns about cost management. In related developments, Baird analyst Colin Sebastian raised Corsair’s stock target to $11.00, maintaining a Neutral rating following the company’s strong earnings report. The analyst noted promising growth driven by a refresh cycle in gaming PCs, expected to continue through 2025. Additionally, Corsair announced the retirement of CEO Andy Paul, with President and COO Thi La set to succeed him in mid-2025. This leadership transition is seen as a move that could further contribute to the company’s stability and growth prospects. These developments come as Corsair navigates challenges such as supply chain disruptions and macroeconomic pressures.
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