ContextLogic Inc. [WISH] 10% Owner makes an insider purchase of 19,085 shares worth 18728.0.

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. ContextLogic Inc. shares valued at $18,728 were sold by Szulczewski Piotr on Sep 19. At $0.98 per share, Szulczewski Piotr sold 19,085 shares. The insider’s holdings dropped to 41,440,171 shares worth approximately $38.54 million following the completion of this transaction.


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Also, Szulczewski Piotr sold 601,018 shares, netting a total of over 606,067 in proceeds. Following the sale of shares at $1.01 each, the insider now holds 41,459,256 shares.

Before that, Szulczewski Piotr had sold 672,096 shares from its account. In a trade valued at $745,153, the 10% Owner traded ContextLogic Inc. shares for $1.11 each. Upon closing the transaction, the insider’s holdings decreased to 672,096 shares, worth approximately $39.12 million.

As published in a research note from Loop Capital on March 22, 2022, ContextLogic Inc. [WISH] has been rated down from a Buy to a Hold and the price target has been revised to $2 from $4. This represents a 53.5% premium over Wednesday’s closing price. Analysts at UBS downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early December. As of October 04, 2021, Oppenheimer has decreased its “Perform” rating to a “an Underperform” for WISH. Earlier on August 13, 2021, Stifel resumed its rating. Their recommendation was “a Hold” for WISH stock.

Analyzing WISH’s Price Performance

On Wednesday, ContextLogic Inc. [NASDAQ: WISH] plunged -2.81% to $0.93. The stock’s lowest price that day was $0.93, but it reached a high of $1.00 in the same session. During the last five days, there has been a drop of approximately -15.08%. Over the course of the year, ContextLogic Inc. shares have dropped approximately -69.96%. Shares of the company reached a 52-week high of $3.2600 on 01/03/22 and a 52-week low of $0.9100 on 09/20/22. A 50-day SMA is recorded $1.4225, while a 200-day SMA reached $2.0209. Nevertheless, trading volume fell to 21.21 million shares from 43.82 million shares the previous day.

Support And Resistance Levels for ContextLogic Inc. (WISH)

According to the 24-hour chart, there is a support level at 0.9094, which, if violated, would cause prices to drop to 0.8847. In the upper region, resistance lies at 0.9794. The next price resistance is at 1.0247. RSI (Relative Strength Index) is 26.13 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.1917, which suggests the price will decrease in the coming days. Percent R is at 94.26%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is ContextLogic Inc. subject to short interest?

Stocks of ContextLogic Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 12.39 million shares to 58.24 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 45.85 million shares. A jump of 21.27% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.71 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.71.

Which companies own the most shares of ContextLogic Inc. (WISH)?

According to The Vanguard Group, Inc. filings, the company currently owns 43,077,753 shares, which is about 7.07% of the total WISH shares outstanding. The investor’s shares have appreciated by 6,015,679 from its previous 13-F filing of 37062074.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $41,833,983. Maple Rock Capital Partners, Inc. acquire a 80.30% interest valued at $17.57 million while SSgA Funds Management, Inc. purchased a 9,401,373 stake. A total of 4,952,714 shares of ContextLogic Inc. were bought by Geode Capital Management LLC during the quarter, and 33,325 were bought by Comprehensive Financial Managemen. In its current portfolio, Renaissance Technologies LLC holds 8,264,800 shares valued at $10.74 million.

In terms of ContextLogic Inc. share price expectations, FactSet research, analysts set an average price target of $3.09 in the next 12 months, up nearly 90.63% from the previous closing price of $0.96. Analysts anticipate ContextLogic Inc. stock to reach $7.20 by 2022, with the lowest price target being $1.50. In spite of this, 5 analysts ranked ContextLogic Inc. stock as a Hold at the end of 2022. On August 13, 2021, Loop Capital assigned a price target of “a Buy” to the stock and reiterated coverage with a $15.

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