ContextLogic Inc. (NASDAQ:WISH) CFO Rajat Bahri sold 27,607 shares of ContextLogic stock in a transaction that occurred on Monday, July 19th. The shares were sold at an average price of $9.01, for a total transaction of $248,739.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Rajat Bahri also recently made the following trade(s):
- On Thursday, June 17th, Rajat Bahri sold 88,036 shares of ContextLogic stock. The stock was sold at an average price of $11.15, for a total value of $981,601.40.
- On Tuesday, May 18th, Rajat Bahri sold 187,594 shares of ContextLogic stock. The stock was sold at an average price of $8.37, for a total value of $1,570,161.78.
WISH traded down $0.14 on Wednesday, hitting $10.00. 42,534,280 shares of the company were exchanged, compared to its average volume of 31,703,525. ContextLogic Inc. has a twelve month low of $7.52 and a twelve month high of $32.85. The stock has a market capitalization of $6.19 billion and a P/E ratio of -1.70. The business has a 50-day moving average price of $10.44.
A number of equities research analysts have commented on the company. Stifel Nicolaus reduced their target price on ContextLogic from $20.00 to $12.00 and set a “reduce” rating on the stock in a research report on Thursday, May 13th. Credit Suisse Group reduced their target price on ContextLogic from $31.00 to $24.00 and set an “outperform” rating on the stock in a research report on Thursday, May 13th. Bank of America downgraded ContextLogic from a “buy” rating to a “neutral” rating and reduced their target price for the company from $18.00 to $12.00 in a research report on Wednesday. Zacks Investment Research upgraded ContextLogic from a “sell” rating to a “hold” rating in a research report on Wednesday, July 14th. Finally, Evercore ISI assumed coverage on ContextLogic in a research report on Monday, April 5th. They issued an “outperform” rating and a $22.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. ContextLogic has a consensus rating of “Buy” and a consensus target price of $21.85.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Compagnie Lombard Odier SCmA acquired a new position in ContextLogic during the 2nd quarter worth $59,000. Founders Fund V Management LLC acquired a new position in ContextLogic during the 1st quarter worth $947,580,000. Anglepoint Asset Management LTD. grew its stake in ContextLogic by 186.8% during the 1st quarter. Anglepoint Asset Management LTD. now owns 4,191,116 shares of the company’s stock worth $66,220,000 after purchasing an additional 2,729,616 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of ContextLogic during the 1st quarter worth about $643,000. Finally, Point72 Asset Management L.P. boosted its position in shares of ContextLogic by 855.0% during the 1st quarter. Point72 Asset Management L.P. now owns 716,224 shares of the company’s stock worth $11,316,000 after acquiring an additional 641,224 shares in the last quarter. 55.86% of the stock is owned by hedge funds and other institutional investors.
ContextLogic Company Profile
ContextLogic Inc operates as a mobile ecommerce company in Europe, North America, South America, and internationally. The company operates Wish 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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