ContextLogic Inc. (NASDAQ:WISH) Major Shareholder Piotr Szulczewski Sells 725,226 Shares

ContextLogic Inc. (NASDAQ:WISHGet Rating) major shareholder Piotr Szulczewski sold 725,226 shares of ContextLogic stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $1.29, for a total transaction of $935,541.54. Following the sale, the insider now owns 44,239,711 shares of the company’s stock, valued at approximately $57,069,227.19. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

  • On Wednesday, September 7th, Piotr Szulczewski sold 520,485 shares of ContextLogic stock. The stock was sold at an average price of $1.22, for a total transaction of $634,991.70.
  • 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 Price Performance

Shares of WISH stock opened at $1.29 on Friday. The company’s fifty day simple moving average is $1.50 and its 200-day simple moving average is $1.77. ContextLogic Inc. has a 12 month low of $1.20 and a 12 month high of $7.26.

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

Institutional Trading of ContextLogic

Institutional investors have recently made changes to their positions in the business. Profund Advisors LLC bought a new stake in shares of ContextLogic in the second quarter worth $25,000. UBS Group AG raised its position in ContextLogic by 166.3% during the second quarter. UBS Group AG now owns 17,956 shares of the company’s stock worth $28,000 after acquiring an additional 11,212 shares in the last quarter. HighTower Advisors LLC bought a new stake in ContextLogic during the first quarter worth $30,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in ContextLogic during the first quarter worth $34,000. Finally, Nisa Investment Advisors LLC bought a new stake in ContextLogic during the second quarter worth $36,000. Institutional investors own 37.36% of the company’s stock.

Analyst Ratings Changes

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

About ContextLogic

(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.

Further Reading

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

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