ExodusPoint Capital Management LP Buys Shares of 127,994 ContextLogic Inc. (NASDAQ:WISH)

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.

Insider Activity

In other news, insider Tarun Kumar Jain sold 76,629 shares of the firm’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $0.77, for a total transaction of $59,004.33. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Vijay Talwar sold 550,000 shares of the firm’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $0.88, for a total transaction of $484,000.00. Following the completion of the transaction, the chief executive officer now directly owns 599,967 shares of the company’s stock, valued at $527,970.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tarun Kumar Jain sold 76,629 shares of the firm’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $0.77, for a total transaction of $59,004.33. The disclosure for this sale can be found here. Insiders have sold 714,629 shares of company stock worth $586,124 in the last three months. Company insiders own 20.80% of the company’s stock.

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 Profile

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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.