Checking in on ContextLogic Inc. (WISH) after recent insiders movement


ContextLogic Inc.’s filing revealed that its Former CEO & Director Talwar Vijay unloaded Company’s shares for reported $0.48 million on Feb 13. In the deal valued at $0.88 per share,550,000 shares were sold. As a result of this transaction, Talwar Vijay now holds 599,967 shares worth roughly $ 0.31 million.

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Then, Jain Tarun Kumar sold 76,629 shares, generating $58,989 in total proceeds. Upon selling the shares at $0.77, the Chief Product Officer now owns 0 shares.

Before that, Jain Tarun Kumar sold 88,000 shares. ContextLogic Inc. shares valued at $43,384 were divested by the Chief Product Officer at a price of $0.49 per share. As a result of the transaction, Jain Tarun Kumar now holds 76,629 shares, worth roughly $39080.79.

Citigroup initiated its ContextLogic Inc. [WISH] rating to a Sell in a research note published on Friday, December 13, 2022; the price target was $0.50. PT values the company’s stock at a premium of -2.0 to its Friday closing price. A number of analysts have revised their coverage, including Loop Capital’s analysts, who decreased its forecast for the stock in late March from “a Buy” to “a Hold”. UBS also remained covering WISH and has decreased its forecast on December 02, 2021 with a “Neutral” recommendation from previously “Buy” rating. Oppenheimer revised its rating on October 04, 2021. It rated WISH as “an Underperform” which previously was an “a Perform”.

Price Performance Review of WISH

On Friday, ContextLogic Inc. [NASDAQ:WISH] saw its stock fall -28.70% to $0.51. On the same session, the stock had its day’s lowest price of $0.50, but rose to a high of $0.6502. Over the last five days, the stock has lost -39.27%. ContextLogic Inc. shares have risen nearly 4.59% since the year began. Nevertheless, the stocks have fallen -74.62% over the past one year. While a 52-week high of $2.58 was reached on 02/13/23, a 52-week low of $0.44 was recorded on 01/06/23. SMA at 50 days reached $0.6244, while 200 days put it at $1.0883. A total of 77.8 million shares were traded, compared to the trading of 42.28 million shares in the previous session.

Levels Of Support And Resistance For WISH Stock

The 24-hour chart illustrates a support level at 0.4567, which if violated will result in even more drops to 0.4032. On the upside, there is a resistance level at 0.6069. A further resistance level may holdings at 0.7036. The Relative Strength Index (RSI) on the 14-day chart is 40.24, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0813, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 98.23%. Stochastics %K at 15.48% indicates the stock is a buying.

How much short interest is there in ContextLogic Inc.?

A steep rise in short interest was recorded in ContextLogic Inc. stocks on Jan 30, 2023, dropping by -3.68 million shares to a total of 47.79 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 51.47 million shares. There was a decline of -7.7%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 7.44% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.53.

ContextLogic Inc. [WISH] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 52,976,738 shares, or roughly 7.83% of the outstanding WISH shares. In other words, the investor’s shares have risen by 10,781,863 from its previous 13-F filing of 42194875.0. Additionally, BlackRock Fund Advisors increased 17.06% of its stake after which the total value it holdings stand at $25,916,186, while SSgA Funds Management, Inc. added 30.29% of its stake to hold $12.15 million in the firm. Over the last quarter, Renaissance Technologies LLC purchased 4,119,361 shares of ContextLogic Inc., while Geode Capital Management LLC bought 367,775 shares. At present, D. E. Shaw & Co. LP is holding 9,951,377 shares valued at $6.85 million. Comprehensive Financial Managemen owned 8,406,736 shares of the company at the time of its most recent 13F filing, worth $5.78 million.

According to FactSet, ContextLogic Inc.’s share price will average $1.42 in the next year, based on opinions of analysts polled by the firm. This is down nearly -2.78 percent from its previous closing price of $0.72. Analysts expect ContextLogic Inc. stock to reach the higher price of $4.40, while the lowest price estimate is $0.50. However, 6 analysts have rated WISH stock as an Underweight in their predictions for 2023. The most recent change occurred on August 13, 2021 when Stifel resumed its ‘”a Hold”‘ rating for the stock and retained the price target to $8.


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