Canada Pension Plan Investment Board Acquires Shares of 214,300 Weave Communications, Inc. (NYSE:WEAV)

Canada Pension Plan Investment Board purchased a new stake in Weave Communications, Inc. (NYSE:WEAV - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 214,300 shares of the company's stock, valued at approximately $3,412,000. Canada Pension Plan Investment Board owned about 0.29% of Weave Communications at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Amundi acquired a new position in shares of Weave Communications in the 4th quarter valued at approximately $66,000. Summit Investment Advisors Inc. grew its position in shares of Weave Communications by 28.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company's stock valued at $66,000 after purchasing an additional 928 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Weave Communications in the 4th quarter valued at approximately $131,000. US Bancorp DE grew its position in shares of Weave Communications by 8.4% in the 4th quarter. US Bancorp DE now owns 9,053 shares of the company's stock valued at $144,000 after purchasing an additional 703 shares during the period. Finally, Cerity Partners LLC acquired a new position in shares of Weave Communications in the 4th quarter valued at approximately $159,000. 86.83% of the stock is owned by institutional investors.

Insider Transactions at Weave Communications

In related news, Director Blake G. Modersitzki sold 5,485 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $17.45, for a total value of $95,713.25. Following the transaction, the director now owns 188,441 shares in the company, valued at approximately $3,288,295.45. This represents a 2.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Branden Neish sold 25,510 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $11.33, for a total transaction of $289,028.30. Following the completion of the transaction, the insider now owns 460,908 shares in the company, valued at approximately $5,222,087.64. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 519,509 shares of company stock worth $7,408,268 in the last ninety days. Insiders own 18.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Raymond James reiterated a "strong-buy" rating and issued a $20.00 price objective (up from $17.00) on shares of Weave Communications in a research report on Friday, February 21st. Stifel Nicolaus reduced their price target on Weave Communications from $20.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Piper Sandler reduced their price target on Weave Communications from $17.00 to $14.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $16.50.

Weave Communications Stock Performance

Shares of Weave Communications stock traded down $0.07 during trading on Monday, hitting $10.36. 557,587 shares of the stock were exchanged, compared to its average volume of 728,258. The stock has a market capitalization of $775.96 million, a price-to-earnings ratio of -26.56 and a beta of 1.97. The company has a fifty day moving average price of $11.03 and a 200-day moving average price of $13.67. Weave Communications, Inc. has a 1-year low of $8.10 and a 1-year high of $17.63. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09.

Weave Communications (NYSE:WEAV - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.12). The firm had revenue of $54.17 million for the quarter, compared to analyst estimates of $53.23 million. Weave Communications had a negative return on equity of 28.37% and a negative net margin of 13.87%. As a group, equities analysts predict that Weave Communications, Inc. will post -0.33 EPS for the current fiscal year.

Weave Communications Profile

Weave Communications, Inc provides a customer experience and payments software platform in the United States and Canada. Its platform enables small and medium-sized healthcare businesses to maximize the value of their patient interactions and minimize the time and effort spent on manual or mundane tasks.