ContextLogic Inc. (NASDAQ:WISH) Major Shareholder Piotr Szulczewski Sells 601,018 Shares of Stock

ContextLogic Inc. (NASDAQ:WISHGet Rating) major shareholder Piotr Szulczewski sold 601,018 shares of the company’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $1.01, for a total transaction of $607,028.18. Following the transaction, the insider now directly owns 41,459,256 shares of the company’s stock, valued at approximately $41,873,848.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

  • On Monday, September 19th, Piotr Szulczewski sold 19,085 shares of ContextLogic stock. The shares were sold at an average price of $0.98, for a total value of $18,703.30.
  • On Wednesday, September 14th, Piotr Szulczewski sold 407,341 shares of ContextLogic stock. The stock was sold at an average price of $1.11, for a total value of $452,148.51.
  • On Monday, September 12th, Piotr Szulczewski sold 1,100,000 shares of ContextLogic stock. The stock was sold at an average price of $1.27, for a total value of $1,397,000.00.
  • On Friday, September 9th, Piotr Szulczewski sold 725,226 shares of ContextLogic stock. The stock was sold at an average price of $1.29, for a total value of $935,541.54.
  • On Wednesday, September 7th, Piotr Szulczewski sold 520,485 shares of ContextLogic stock. The shares were 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 stock was 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 stock was sold at an average price of $1.67, for a total transaction of $1,670,000.00.

ContextLogic Stock Down 6.1 %

Shares of WISH stock opened at $0.93 on Tuesday. The company has a market capitalization of $622.50 million, a P/E ratio of -2.27 and a beta of 0.32. ContextLogic Inc. has a 12-month low of $0.92 and a 12-month high of $6.44. The firm has a 50-day moving average price of $1.44 and a 200 day moving average price of $1.72.

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

Institutional Trading of ContextLogic

Large investors have recently made changes to their positions in the business. Pictet Asset Management SA acquired a new position in ContextLogic during the 4th quarter worth about $69,000. Swiss National Bank lifted its position in shares of ContextLogic by 11.1% during the first quarter. Swiss National Bank now owns 682,200 shares of the company’s stock worth $1,535,000 after purchasing an additional 68,300 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of ContextLogic during the fourth quarter valued at approximately $168,000. Northern Trust Corp increased its holdings in shares of ContextLogic by 26.8% in the fourth quarter. Northern Trust Corp now owns 768,389 shares of the company’s stock valued at $2,389,000 after purchasing an additional 162,623 shares in the last quarter. Finally, Kellett Schaffner Wealth Advisors LLC raised its position in ContextLogic by 68.0% in the 1st quarter. Kellett Schaffner Wealth Advisors LLC now owns 85,501 shares of the company’s stock worth $192,000 after purchasing an additional 34,600 shares during the last quarter. Institutional investors own 37.36% of the company’s stock.

Wall Street Analyst Weigh In

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

See Also

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

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