ContextLogic Inc. (NASDAQ:WISH) Director Sells $29,700.00 in Stock

ContextLogic Inc. (NASDAQ:WISHGet Rating) Director Stephanie Tilenius sold 18,000 shares of the company’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $1.65, for a total transaction of $29,700.00. Following the completion of the transaction, the director now owns 9,777 shares in the company, valued at approximately $16,132.05. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of NASDAQ WISH traded down $0.04 during trading hours on Tuesday, hitting $1.76. 15,817,635 shares of the stock were exchanged, compared to its average volume of 19,081,156. The company’s 50 day moving average is $1.89 and its 200 day moving average is $2.52. The firm has a market capitalization of $1.16 billion, a P/E ratio of -3.77 and a beta of 0.40. ContextLogic Inc. has a one year low of $1.20 and a one year high of $15.18.

ContextLogic (NASDAQ:WISHGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.05. ContextLogic had a negative net margin of 19.51% and a negative return on equity of 24.26%. The firm had revenue of $189.00 million during the quarter, compared to the consensus estimate of $212.19 million. During the same period in the prior year, the firm earned ($0.21) EPS. The business’s revenue was down 75.5% on a year-over-year basis. On average, analysts anticipate that ContextLogic Inc. will post -0.59 EPS for the current year.

A number of institutional investors have recently modified their holdings of WISH. Mackay Shields LLC boosted its holdings in ContextLogic by 1,217.0% in the 3rd quarter. Mackay Shields LLC now owns 6,252,826 shares of the company’s stock valued at $475,000 after purchasing an additional 5,778,048 shares during the period. Renaissance Technologies LLC bought a new stake in ContextLogic in the 1st quarter valued at $11,484,000. BlackRock Inc. boosted its holdings in ContextLogic by 201.7% in the 3rd quarter. BlackRock Inc. now owns 5,010,297 shares of the company’s stock valued at $27,356,000 after purchasing an additional 3,349,551 shares during the period. Credit Suisse AG raised its stake in shares of ContextLogic by 671.3% in the 3rd quarter. Credit Suisse AG now owns 2,290,113 shares of the company’s stock valued at $12,503,000 after buying an additional 1,993,182 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of ContextLogic by 658.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,240,312 shares of the company’s stock valued at $5,040,000 after buying an additional 1,944,790 shares in the last quarter. 27.33% of the stock is owned by hedge funds and other institutional investors.

Several research firms have weighed in on WISH. Zacks Investment Research upgraded shares of ContextLogic from a “sell” rating to a “hold” rating in a research note on Thursday, March 3rd. Credit Suisse Group dropped their price objective on shares of ContextLogic from $12.00 to $9.50 and set an “outperform” rating on the stock in a research note on Wednesday, March 2nd. Finally, Loop Capital lowered shares of ContextLogic from a “buy” rating to a “hold” rating and dropped their price target for the stock from $4.00 to $2.00 in a research note on Tuesday, March 22nd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.30.

ContextLogic Company Profile (Get Rating)

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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