ContextLogic Inc. (NASDAQ:WISH) General Counsel Devang Shah Sells 11,492 Shares of Stock

ContextLogic Inc. (NASDAQ:WISH) General Counsel Devang Shah sold 11,492 shares of the business’s stock in a transaction on Monday, July 19th. The shares were sold at an average price of $9.00, for a total transaction of $103,428.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Devang Shah also recently made the following trade(s):

  • On Tuesday, June 29th, Devang Shah sold 15,083 shares of ContextLogic stock. The shares were sold at an average price of $14.20, for a total transaction of $214,178.60.
  • On Thursday, June 17th, Devang Shah sold 10,469 shares of ContextLogic stock. The shares were sold at an average price of $11.15, for a total transaction of $116,729.35.
  • On Tuesday, May 18th, Devang Shah sold 55,426 shares of ContextLogic stock. The shares were sold at an average price of $8.37, for a total transaction of $463,915.62.

ContextLogic stock opened at $10.00 on Thursday. The firm has a market cap of $6.19 billion and a price-to-earnings ratio of -1.70. ContextLogic Inc. has a fifty-two week low of $7.52 and a fifty-two week high of $32.85. The stock’s fifty day moving average price is $10.44.

ContextLogic (NASDAQ:WISH) last announced its quarterly earnings data on Wednesday, May 12th. The company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.03). The firm had revenue of $772.00 million for the quarter, compared to analyst estimates of $743.77 million. The business’s revenue was up 75.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.62) earnings per share. As a group, research analysts predict that ContextLogic Inc. will post -0.55 earnings per share for the current year.

WISH has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of ContextLogic from a “sell” rating to a “hold” rating in a report on Wednesday, July 14th. Credit Suisse Group decreased their price objective on shares of ContextLogic from $31.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday, May 13th. Bank of America cut shares of ContextLogic from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $18.00 to $12.00 in a report on Wednesday. Evercore ISI initiated coverage on shares of ContextLogic in a report on Monday, April 5th. They issued an “outperform” rating and a $22.00 price objective for the company. Finally, Stifel Nicolaus decreased their price objective on shares of ContextLogic from $20.00 to $12.00 and set a “reduce” rating for the company in a report on Thursday, May 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $21.85.

Institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in shares of ContextLogic during the first quarter valued at about $34,000. Alpha Paradigm Partners LLC acquired a new position in shares of ContextLogic during the first quarter valued at about $70,000. Compagnie Lombard Odier SCmA acquired a new position in shares of ContextLogic during the second quarter valued at about $59,000. Wells Fargo & Company MN acquired a new position in shares of ContextLogic during the fourth quarter valued at about $107,000. Finally, Adalta Capital Management LLC acquired a new position in shares of ContextLogic during the fourth quarter valued at about $109,000. 55.86% of the stock is owned by institutional investors and hedge funds.

About ContextLogic

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

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