Piotr Szulczewski Sells 520,485 Shares of ContextLogic Inc. (NASDAQ:WISH) Stock

ContextLogic Inc. (NASDAQ:WISHGet Rating) major shareholder Piotr Szulczewski sold 520,485 shares of ContextLogic stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $1.22, for a total transaction of $634,991.70. Following the completion of the transaction, the insider now directly owns 45,964,937 shares in the company, valued at $56,077,223.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Piotr Szulczewski also recently made the following trade(s):

  • On Friday, September 9th, Piotr Szulczewski sold 725,226 shares of ContextLogic stock. The stock was sold at an average price of $1.29, for a total transaction of $935,541.54.
  • On Wednesday, August 24th, Piotr Szulczewski sold 2,000,000 shares of ContextLogic stock. The shares were sold at an average price of $1.36, for a total transaction of $2,720,000.00.
  • On Monday, August 15th, Piotr Szulczewski sold 1,000,000 shares of ContextLogic stock. The shares were sold at an average price of $1.67, for a total transaction of $1,670,000.00.
  • On Friday, August 12th, Piotr Szulczewski sold 1,000,000 shares of ContextLogic stock. The shares were sold at an average price of $1.67, for a total transaction of $1,670,000.00.

ContextLogic Trading Up 5.7 %

Shares of WISH stock opened at $1.29 on Friday. ContextLogic Inc. has a 12 month low of $1.20 and a 12 month high of $7.26. The stock has a market cap of $864.30 million, a PE ratio of -3.15 and a beta of 0.32. The company’s fifty day moving average price is $1.50 and its 200-day moving average price is $1.77.

ContextLogic (NASDAQ:WISHGet Rating) last announced its earnings results on Tuesday, August 9th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. ContextLogic had a negative net margin of 27.75% and a negative return on equity of 23.48%. The firm had revenue of $134.00 million for the quarter, compared to analysts’ expectations of $154.40 million. During the same quarter in the previous year, the business posted ($0.17) EPS. The company’s quarterly revenue was down 79.6% on a year-over-year basis. On average, sell-side analysts forecast that ContextLogic Inc. will post -0.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Credit Suisse Group cut their price target on shares of ContextLogic from $7.60 to $7.20 and set an “outperform” rating on the stock in a report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, ContextLogic currently has a consensus rating of “Hold” and an average price target of $4.81.

Hedge Funds Weigh In On ContextLogic

A number of hedge funds have recently bought and sold shares of the company. Citigroup Inc. boosted its stake in ContextLogic by 1.1% in the 4th quarter. Citigroup Inc. now owns 410,476 shares of the company’s stock worth $1,277,000 after purchasing an additional 4,414 shares in the last quarter. Endowment Wealth Management Inc. boosted its stake in ContextLogic by 18.6% in the 1st quarter. Endowment Wealth Management Inc. now owns 40,060 shares of the company’s stock worth $90,000 after purchasing an additional 6,273 shares in the last quarter. X Square Capital LLC boosted its stake in ContextLogic by 20.0% in the 1st quarter. X Square Capital LLC now owns 45,000 shares of the company’s stock worth $102,000 after purchasing an additional 7,500 shares in the last quarter. California State Teachers Retirement System boosted its stake in ContextLogic by 3.7% in the 1st quarter. California State Teachers Retirement System now owns 245,271 shares of the company’s stock worth $552,000 after purchasing an additional 8,786 shares in the last quarter. Finally, UBS Group AG boosted its stake in ContextLogic by 166.3% in the 2nd quarter. UBS Group AG now owns 17,956 shares of the company’s stock worth $28,000 after purchasing an additional 11,212 shares in the last quarter. Institutional investors own 37.36% of the company’s stock.

About ContextLogic

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ContextLogic Inc operates as a mobile ecommerce company in Europe, North America, South America, and internationally. The company operates Wish, an ecommerce platform that connects users to merchants. It also provides marketplace and logistics services to merchants. The company was incorporated in 2010 and is headquartered in San Francisco, California.

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Insider Buying and Selling by Quarter for ContextLogic (NASDAQ:WISH)

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