Insider Selling: ContextLogic Inc. (NASDAQ:WISH) General Counsel Sells $89,347.30 in Stock

ContextLogic Inc. (NASDAQ:WISH) General Counsel Joanna Forster sold 16,394 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $5.45, for a total value of $89,347.30. Following the sale, the general counsel now directly owns 39,046 shares of the company’s stock, valued at approximately $212,800.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

ContextLogic Stock Down 2.0 %

Shares of ContextLogic stock opened at $5.30 on Thursday. The stock has a market capitalization of $129.32 million, a P/E ratio of -0.40 and a beta of 2.09. The stock has a 50 day moving average price of $5.75 and a two-hundred day moving average price of $5.36. ContextLogic Inc. has a 12-month low of $3.55 and a 12-month high of $9.90.

ContextLogic (NASDAQ:WISH) last announced its earnings results on Monday, March 4th. The company reported ($2.82) earnings per share (EPS) for the quarter. The company had revenue of $53.00 million for the quarter. ContextLogic had a negative return on equity of 102.51% and a negative net margin of 113.62%.

Institutional Investors Weigh In On ContextLogic

Several hedge funds have recently modified their holdings of the business. Yarra Square Partners LP bought a new stake in shares of ContextLogic in the first quarter valued at approximately $790,000. Virtu Financial LLC acquired a new position in ContextLogic during the fourth quarter worth $192,000. Formation8 GP LLC acquired a new position in ContextLogic during the fourth quarter worth $5,922,000. Charles Schwab Investment Management Inc. raised its stake in ContextLogic by 54.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 865,772 shares of the company’s stock worth $5,151,000 after acquiring an additional 306,024 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in ContextLogic by 1.8% during the fourth quarter. Federated Hermes Inc. now owns 193,818 shares of the company’s stock worth $1,153,000 after acquiring an additional 3,356 shares in the last quarter. 46.05% of the stock is owned by institutional investors.

ContextLogic Company Profile

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 consumers to merchants. It also provides marketplace and logistics services to merchants. ContextLogic Inc was incorporated in 2010 and is headquartered in San Francisco, California.