ContextLogic (NASDAQ:WISH) Trading 6.5% Higher


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ContextLogic Inc. (NASDAQ:WISH) rose 6.5% during mid-day trading on Thursday . The stock traded as high as $13.34 and last traded at $13.30. Approximately 63,356 shares were traded during trading, a decline of 99% from the average daily volume of 5,643,685 shares. The stock had previously closed at $12.49.

A number of brokerages recently issued reports on WISH. Citigroup dropped their target price on shares of ContextLogic from $24.00 to $20.00 in a research report on Tuesday, March 9th. Bank of America began coverage on ContextLogic in a report on Monday, January 11th. They issued a “buy” rating and a $26.00 target price for the company. William Blair started coverage on shares of ContextLogic in a report on Monday, January 11th. They set an “outperform” rating for the company. Stifel Nicolaus reduced their price target on shares of ContextLogic from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday, March 9th. Finally, Evercore ISI initiated coverage on ContextLogic in a research note on Tuesday, April 13th. They set an “outperform” rating and a $22.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $24.08.

The company has a 50 day moving average of $15.98 and a 200-day moving average of $14.87.

ContextLogic (NASDAQ:WISH) last issued its quarterly earnings results on Sunday, March 7th. The company reported ($3.04) EPS for the quarter, missing analysts’ consensus estimates of ($3.03) by ($0.01).

In other news, CAO Brett Just sold 10,000 shares of the firm’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $19.63, for a total transaction of $196,300.00. Following the sale, the chief accounting officer now directly owns 31,757 shares in the company, valued at approximately $623,389.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Pai Liu sold 17,626 shares of ContextLogic stock in a transaction that occurred on Wednesday, February 24th. The shares were sold at an average price of $19.65, for a total transaction of $346,350.90. Following the sale, the vice president now owns 17,626 shares in the company, valued at approximately $346,350.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,461,728 shares of company stock worth $146,110,205.

A number of institutional investors have recently modified their holdings of the business. Deltec Asset Management LLC purchased a new stake in shares of ContextLogic during the first quarter valued at about $474,000. NEXT Financial Group Inc grew its position in ContextLogic by 286.4% during the 1st quarter. NEXT Financial Group Inc now owns 6,956 shares of the company’s stock worth $110,000 after purchasing an additional 5,156 shares during the period. Virtu Financial LLC acquired a new stake in ContextLogic during the fourth quarter valued at $841,000. Alyeska Investment Group L.P. purchased a new stake in shares of ContextLogic during the fourth quarter worth approximately $17,440,000. Finally, JPMorgan Chase & Co. acquired a new stake in ContextLogic in the 4th quarter valued at about $821,000.

About ContextLogic (NASDAQ:WISH)

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 approximately 100 million monthly active users to approximately 550,000 merchants. It also provides marketplace and logistics services to merchants.

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