Renaissance Technologies LLC grew its stake in shares of ContextLogic Inc. (NASDAQ:WISH – Get Rating) by 43.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 11,855,639 shares of the company’s stock after buying an additional 3,590,839 shares during the quarter. Renaissance Technologies LLC’s holdings in ContextLogic were worth $8,701,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in ContextLogic during the 3rd quarter worth approximately $26,000. UBS Group AG increased its stake in ContextLogic by 166.3% during the 2nd quarter. UBS Group AG now owns 17,956 shares of the company’s stock valued at $28,000 after purchasing an additional 11,212 shares in the last quarter. HighTower Advisors LLC bought a new stake in ContextLogic during the 1st quarter valued at $30,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in ContextLogic during the first quarter worth $34,000. Finally, Nisa Investment Advisors LLC bought a new position in shares of ContextLogic in the second quarter valued at $36,000. Institutional investors own 34.60% of the company’s stock.
Insiders Place Their Bets
In other ContextLogic news, insider Tarun Kumar Jain sold 76,629 shares of ContextLogic stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $0.77, for a total transaction of $59,004.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Tarun Kumar Jain sold 76,629 shares of ContextLogic stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $0.77, for a total transaction of $59,004.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vijay Talwar sold 550,000 shares of the stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $0.88, for a total transaction of $484,000.00. Following the transaction, the chief executive officer now owns 599,967 shares of the company’s stock, valued at approximately $527,970.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 802,629 shares of company stock valued at $626,604. Corporate insiders own 20.80% of the company’s stock.
ContextLogic Trading Down 2.6 %
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on WISH. Citigroup assumed coverage on shares of ContextLogic in a report on Tuesday, December 13th. They issued a “sell” rating on the stock. Credit Suisse Group lowered their price objective on ContextLogic from $5.70 to $4.40 and set an “outperform” rating for the company in a research note on Friday, February 24th.
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.
- Get a free copy of the StockNews.com research report on ContextLogic (WISH)
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