On September 15, 2023, Michael Potter, the Chief Financial Officer (CFO) of Corsair Gaming Inc (CRSR, Financial), sold 10,000 shares of the company. This move is part of a series of insider transactions that have been taking place over the past year.
Michael Potter is a seasoned financial executive with extensive experience in the gaming industry. As the CFO of Corsair Gaming Inc, he plays a crucial role in the company's financial planning and decision-making processes. His insider trades, therefore, provide valuable insights into the company's financial health and future prospects.
Corsair Gaming Inc is a leading global provider and innovator of high-performance gear for gamers and content creators. The company's product portfolio includes gaming peripherals, components, streaming gear, and PC gaming hardware, among others. Corsair Gaming Inc is renowned for its commitment to quality, innovation, and the delivery of high-performance gaming experiences.
Over the past year, the insider has sold a total of 47,673 shares and purchased 0 shares. This recent sale of 10,000 shares is a continuation of the insider's selling trend.
The insider transaction history for Corsair Gaming Inc shows a total of 3 insider buys and 8 insider sells over the past year. This trend suggests a cautious sentiment among the company's insiders, which could be a reflection of their expectations about the company's future performance.
On the day of the insider's recent sale, shares of Corsair Gaming Inc were trading for $15.03 apiece, giving the stock a market cap of $1.54 billion. The price-earnings ratio is 499.00, significantly higher than the industry median of 21.91 and the company’s historical median price-earnings ratio. This high price-earnings ratio could indicate that the stock is overvalued, which might explain the insider's decision to sell.
However, with a price of $15.03 and a GuruFocus Value of $16.88, Corsair Gaming Inc has a price-to-GF-Value ratio of 0.89. This suggests that the stock is modestly undervalued based on its GF Value.
The GF Value is an intrinsic value estimate developed by GuruFocus. It is calculated based on historical multiples that the stock has traded at, a GuruFocus adjustment factor based on the company’s past returns and growth, and future estimates of business performance from Morningstar analysts.
In conclusion, the insider's recent sale, along with the overall insider transaction trend for Corsair Gaming Inc, suggests a cautious sentiment among the company's insiders. However, the stock's modest undervaluation based on its GF Value could present an attractive opportunity for investors.
