Key points
- Cohen's fifth GameStop purchase since Sept. 10
- What his whole stake cost him
- Two officers sold small amounts under trading plans
Ryan Cohen's latest GameStop (GME) purchase turned up on our insider buying tracker on Oct. 13. The chief executive bought 844,130 shares that day for $22.8 million, according to his Form 4.
It's his fifth open-market buy since Sept. 10. I wrote about the first four on Oct. 3, when the running total was $74.4 million. This one takes him to $97.2 million for 4.1 million shares, in a little under five weeks.
What did he pay this time?
The Form 4 lists two purchases. Cohen bought 67,130 shares at $26.75 and another 777,000 at $27.00. That first price matched GameStop's low for the day, and the stock closed at $27.22.
The pattern from his earlier buys held, too. Each purchase in this run has come at a higher average price than the one before it.
| Date | Shares | Average price | Value |
|---|---|---|---|
| Sept. 10 | 1,000,000 | $20.38 | $20.4 million |
| Sept. 21 | 1,150,680 | $22.94 | $26.4 million |
| Sept. 29 | 450,000 | $23.48 | $10.6 million |
| Oct. 2 | 700,000 | $24.41 | $17.1 million |
| Oct. 13 | 844,130 | $26.98 | $22.8 million |
Source: Ryan Cohen's Form 4 filings with the SEC.
GameStop closed at $20.39 on Sept. 10, the day of his first buy in this run. By Oct. 13 it was up by about a third.
How much of GameStop does he own now?
He owns 42.5 million shares directly. His Schedule 13D amendment, filed the same day, puts his total at 46.2 million shares, or about 9.1% of the company. That count includes 3.7 million shares he could get by exercising warrants. His Oct. 2 amendment had him at about 8.9%.
The same filing says the 42.5 million shares he owns directly cost him $225.4 million, not counting brokerage commissions. That's $5.30 a share on average. His purchases this year, reported on six Form 4s, account for $118.6 million of it. The other 37.3 million shares cost him $106.9 million, which works out to under $3 a share. So the stock he's buying now costs him more than nine times what those older shares did.
Two officers sold small amounts under trading plans
General counsel Mark Robinson sold 3,882 shares on Oct. 5 at an average of $25.42, or $98,700 in all, according to his Form 4. The filing says the sale ran under a Rule 10b5-1 trading plan he adopted on Jan. 12. That's a plan an insider sets up in advance with instructions for when and how to sell.
Daniel Moore, GameStop's principal financial officer, filed a Form 144 on Oct. 13 covering 15,480 shares, with an aggregate market value of $411,000 listed on the form. Its remarks say the sales were executed on Oct. 12. The shares came from restricted stock units that vested this year, and the form lists a trading plan adopted on Oct. 3, 2025. The form explains the one-day gap: EDGAR wasn't accepting filings on Oct. 12 because of the federal holiday.
Both officers also sold about 7,300 shares on Oct. 1 to cover taxes on vesting stock, which I covered last time. Moore's Form 4 for the Oct. 12 sale is due within two business days and will show what he got for the shares.
