Michael G. Potter Sells 4,124 Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) Stock

Corsair Gaming, Inc. (NASDAQ:CRSR) CFO Michael G. Potter sold 4,124 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $10.08, for a total value of $41,569.92. Following the completion of the sale, the chief financial officer now owns 125,650 shares of the company’s stock, valued at approximately $1,266,552. This represents a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Corsair Gaming Stock Up 1.3 %

Corsair Gaming stock traded up $0.13 during trading on Friday, hitting $10.07. 1,459,790 shares of the company were exchanged, compared to its average volume of 613,002. The company has a market capitalization of $1.06 billion, a P/E ratio of -10.60 and a beta of 1.60. The business’s 50 day moving average is $10.16 and its 200 day moving average is $7.99. Corsair Gaming, Inc. has a 52 week low of $5.60 and a 52 week high of $13.02. The company has a current ratio of 1.57, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27.

Corsair Gaming (NASDAQ:CRSR) last posted its earnings results on Wednesday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Corsair Gaming had a negative net margin of 7.53% and a negative return on equity of 4.62%. Analysts predict that Corsair Gaming, Inc. will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On Corsair Gaming

A number of institutional investors have recently added to or reduced their stakes in CRSR. Barclays PLC boosted its stake in shares of Corsair Gaming by 257.3% in the 3rd quarter. Barclays PLC now owns 78,933 shares of the company’s stock worth $549,000 after buying an additional 56,841 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in Corsair Gaming by 133.0% during the fourth quarter. Vontobel Holding Ltd. now owns 70,109 shares of the company’s stock worth $463,000 after acquiring an additional 40,015 shares during the period. Main Management ETF Advisors LLC purchased a new position in Corsair Gaming in the third quarter worth $735,000. Jacobs Levy Equity Management Inc. bought a new position in Corsair Gaming in the 3rd quarter valued at $1,094,000. Finally, New York State Common Retirement Fund increased its position in shares of Corsair Gaming by 40.4% during the 4th quarter. New York State Common Retirement Fund now owns 738,922 shares of the company’s stock valued at $4,884,000 after purchasing an additional 212,792 shares during the last quarter. 25.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CRSR shares. Wedbush reiterated an “outperform” rating and issued a $12.00 price target (up previously from $10.00) on shares of Corsair Gaming in a report on Wednesday, February 5th. Robert W. Baird increased their target price on Corsair Gaming from $8.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Barclays lifted their price target on shares of Corsair Gaming from $9.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.14.

About Corsair Gaming

Corsair Gaming, Inc, together with its subsidiaries, designs, develops, markets, and sells gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. It offers gamer and creator peripherals, including gaming keyboards, mice, headsets, controllers, and streaming products, such as capture cards, stream decks, microphones and audio interfaces, facecam streaming cameras, studio accessories, gaming furniture, and other related products.