995,330 Shares in ContextLogic Inc. (NASDAQ:WISH) Purchased by Formation8 GP LLC

Formation8 GP LLC bought a new position in shares of ContextLogic Inc. (NASDAQ:WISH) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 995,330 shares of the company’s stock, valued at approximately $5,922,000. ContextLogic makes up about 5.8% of Formation8 GP LLC’s holdings, making the stock its 4th biggest holding. Formation8 GP LLC owned 4.15% of ContextLogic as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Cannell Capital LLC purchased a new stake in shares of ContextLogic during the 3rd quarter worth approximately $3,889,000. Charles Schwab Investment Management Inc. raised its stake in ContextLogic by 54.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 865,772 shares of the company’s stock valued at $5,151,000 after acquiring an additional 306,024 shares during the period. New York Life Insurance Co. bought a new position in ContextLogic during the third quarter worth about $229,000. Bank of New York Mellon Corp increased its stake in shares of ContextLogic by 9.5% in the third quarter. Bank of New York Mellon Corp now owns 84,192 shares of the company’s stock worth $371,000 after purchasing an additional 7,322 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of ContextLogic by 1.8% in the fourth quarter. Federated Hermes Inc. now owns 193,818 shares of the company’s stock valued at $1,153,000 after purchasing an additional 3,356 shares during the period. 46.05% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ContextLogic

In related news, General Counsel Joanna Forster sold 16,394 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $5.45, for a total transaction of $89,347.30. Following the completion of the transaction, the general counsel now directly owns 39,046 shares in the company, valued at $212,800.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Brett Just sold 7,999 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $6.31, for a total value of $50,473.69. Following the completion of the transaction, the senior vice president now directly owns 6,859 shares in the company, valued at approximately $43,280.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Joanna Forster sold 16,394 shares of the business’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 completion of the sale, the general counsel now owns 39,046 shares of the company’s stock, valued at approximately $212,800.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,893 shares of company stock valued at $142,571. 8.20% of the stock is currently owned by company insiders.

ContextLogic Price Performance

WISH stock remained flat at $5.25 during midday trading on Friday. 421,565 shares of the company’s stock were exchanged, compared to its average volume of 991,637. ContextLogic Inc. has a 1-year low of $3.55 and a 1-year high of $9.90. The firm has a 50 day moving average price of $5.52 and a 200-day moving average price of $5.48. The stock has a market capitalization of $128.09 million, a price-to-earnings ratio of -0.44 and a beta of 2.09.

ContextLogic (NASDAQ:WISH) last released its quarterly earnings data on Monday, March 4th. The company reported ($2.82) EPS for the quarter. The firm had revenue of $53.00 million during the quarter. ContextLogic had a negative net margin of 131.05% and a negative return on equity of 115.96%.

About ContextLogic

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.