GameStop CEO Ryan Cohen spends $22.8 million on additional shares
Ryan Cohen bought GameStop twice on the open market on October 13, 2026. The first ticket was 67,130 Class A shares at $26.75. The second was 777,000 shares at $27.00.
The two prints added 844,130 shares. The combined cost was $22,774,727. The weighted average price came to $26.98 a share. Cohen, who serves as the company’s president, chief executive, and chairman, used personal funds, which the disclosure noted may at times include margin loans from brokerage firms. The Form 4 reporting the trades reached the Securities and Exchange Commission that same day.
During the regular session, GameStop shares reached an intraday peak of $27.53, a new 52-week high. The stock closed at $27.22, one cent below Monday’s finish of $27.23. Volume ran 12.76 million shares, about 1.2 times the 30-day average of 10.53 million. Market capitalization stood at $13.73 billion and the price-to-earnings ratio was about 18. From the August 20 low of $17.79, the stock had climbed 53 percent.
An amended Schedule 13D circulated after hours as well. Extended trading lifted the shares more than 2.5 percent. As of 8:07 p.m. Eastern, GameStop stood at $27.74.
The October 13 tickets capped a five-week run at rising prices. The run opened on September 10 with 1,000,000 shares at $20.38, some $20.4 million. On September 21 the ticket was 1,150,680 shares at an average of $22.94, about $26.4 million. September 29 brought 450,000 shares at $23.48, roughly $10.6 million. On October 2 he bought 700,000 shares at a weighted average of $24.4061, about $17.1 million. Five open-market purchases in under five weeks brought the total from September 10 through October 13 to 4,144,810 shares for about $97.2 million. Each leg came in at a higher average price than the one before it. A January 2026 purchase pushed the year’s open-market buys to about $118.6 million.
In 2017 PetSmart paid $3.35 billion for Chewy, the online pet retailer Cohen had founded six years earlier. It was then the largest e-commerce acquisition on record. He joined GameStop’s board in January 2021, became chairman that June, and took the chief executive job on September 28, 2023. The restructuring that followed cut selling, general and administrative expenses from about $1.7 billion in fiscal 2021 to $910.2 million in fiscal 2025, a 47 percent reduction, and returned the company to profit. Collectibles and graded trading cards overtook hardware and software as the largest revenue segment. GameStop, headquartered in Grapevine, Texas, operated 2,206 stores as of January 2026. Shares were up roughly 26 percent over the prior thirty days and 32 percent year-to-date.
Dan Ives of Yorkville Ives initiated coverage with an outperform rating and a $32 price target, framing a move past traditional video-game retail into collectibles and capital allocation, with PSA grading offered at participating stores. The company held a 9.8 percent stake in eBay after Cohen led a failed bid of about $56 billion for the marketplace in May.
Other insider paper from the same stretch of October was already on file. General counsel Mark Robinson sold 3,882 shares on October 5 at an average of $25.42, about $98,700. His Form 4 stated that the sale ran under a Rule 10b5-1 trading plan adopted on January 12. A Rule 10b5-1 plan is a prearranged set of instructions an insider puts in place so later sales can execute on a fixed schedule without a fresh decision each time. Principal financial officer Daniel Moore filed a Form 144 on October 13 covering 15,480 shares, listing an aggregate market value of about $411,000. The remarks said the shares had been sold the day before, on October 12, under a trading plan adopted on October 3, 2025. Form 144 is the notice an insider files ahead of selling restricted or control securities into the open market.
GameStop’s next quarterly report stood tentatively on the calendar for December 8; the company had not yet confirmed the date. Any further purchase by Cohen is due on a Form 4 within two business days of the trade.
The amended Schedule 13D filed on October 13 fixed the size of the holding. After the day’s purchases, Cohen directly owned 42,492,652 shares of Class A common stock. The filing counted a further 3,734,784 shares underlying warrants. Warrants are securities that give the holder the right to buy stock at a set price. Beneficial ownership, stock plus warrants, totaled 46,227,436 shares—about 9.1 percent of the company. Those 42.5 million directly held shares had required about $225.4 million in aggregate purchase price, excluding commissions. The average basis was $5.30 a share. At the $27.22 close the direct stake was worth about $1.16 billion. The holding assembled for $225.4 million now carried a market value more than five times its recorded cost.
