On February 13, 2023 at 15:18:40 (ET) an unusually large $46.21K block of Call contracts in ContextLogic (WISH) was bought, with a strike price of $1.50 / share, expiring in 67 days (on April 21, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 7.61 sigmas above the mean, placing it in the 100.00 percentile of all recent large trades made in WISH options.
Analyst Price Forecast Suggests 171.02% Upside
As of February 13, 2023, the average one-year price target for ContextLogic is $1.73. The forecasts range from a low of $0.50 to a high of $5.98. The average price target represents an increase of 171.02% from its latest reported closing price of $0.64.
The projected annual revenue for ContextLogic is $706MM, a decrease of 4.26%. The projected annual EPS is -$0.54.
What is the Fund Sentiment?
There are 298 funds or institutions reporting positions in ContextLogic. This is a decrease of 20 owner(s) or 6.29% in the last quarter. Average portfolio weight of all funds dedicated to WISH is 0.07%, a decrease of 19.72%. Total shares owned by institutions decreased in the last three months by 0.06% to 258,984K shares. The put/call ratio of WISH is 0.14, indicating a bullish outlook.
What are large shareholders doing?
GGV Capital holds 25,707K shares representing 3.46% ownership of the company. In it’s prior filing, the firm reported owning 30,835K shares, representing a decrease of 19.95%. The firm decreased its portfolio allocation in WISH by 48.99% over the last quarter.
General Atlantic holds 18,288K shares representing 2.46% ownership of the company. In it’s prior filing, the firm reported owning 16,888K shares, representing an increase of 7.66%. The firm decreased its portfolio allocation in WISH by 55.20% over the last quarter.
Renaissance Technologies holds 15,975K shares representing 2.15% ownership of the company. In it’s prior filing, the firm reported owning 11,856K shares, representing an increase of 25.79%. The firm decreased its portfolio allocation in WISH by 13.40% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 13,431K shares representing 1.81% ownership of the company. In it’s prior filing, the firm reported owning 14,971K shares, representing a decrease of 11.46%. The firm decreased its portfolio allocation in WISH by 57.10% over the last quarter.
IWM – iShares Russell 2000 ETF holds 12,661K shares representing 1.71% ownership of the company. In it’s prior filing, the firm reported owning 12,982K shares, representing a decrease of 2.54%. The firm decreased its portfolio allocation in WISH by 51.55% over the last quarter.
ContextLogic Background Information
(This description is provided by the company.)
ContextLogic Inc., doing business as Wish.com, provides e-commerce services. The Company helps merchants to reach customers, as well as enable users to personalize shopping and find the products. Wish serves customers worldwide.
This article originally appeared on Fintel
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