ExodusPoint Capital Management LP bought a new stake in shares of ContextLogic Inc. (NASDAQ:WISH – Get Rating) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 127,994 shares of the company’s stock, valued at approximately $94,000.
A number of other hedge funds have also added to or reduced their stakes in WISH. Allspring Global Investments Holdings LLC bought a new position in ContextLogic in the third quarter worth approximately $26,000. UBS Group AG raised its position in ContextLogic by 166.3% in 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 during the period. HighTower Advisors LLC bought a new position in ContextLogic in the first quarter worth approximately $30,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in ContextLogic in the first quarter worth approximately $34,000. Finally, Nisa Investment Advisors LLC bought a new position in ContextLogic in the second quarter worth approximately $36,000. 34.60% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts have weighed in on WISH shares. Citigroup started coverage on shares of ContextLogic in a research report on Tuesday, December 13th. They issued a “sell” rating on the stock. Credit Suisse Group decreased their price objective on shares of ContextLogic from $5.70 to $4.40 and set an “outperform” rating on the stock in a research report on Friday, February 24th.
ContextLogic Price Performance
Shares of WISH stock opened at $0.50 on Friday. The company has a market capitalization of $341.14 million, a price-to-earnings ratio of -0.90 and a beta of 1.56. ContextLogic Inc. has a one year low of $0.44 and a one year high of $2.58. The company’s fifty day moving average price is $0.62 and its 200-day moving average price is $0.78.
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.
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