Corton Capital Inc. Sells 36,469 Shares of Weave Communications, Inc. (NYSE:WEAV)

Corton Capital Inc. lessened its stake in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 62.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,582 shares of the company's stock after selling 36,469 shares during the period. Corton Capital Inc.'s holdings in Weave Communications were worth $344,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Aquatic Capital Management LLC acquired a new position in Weave Communications in the 4th quarter worth $34,000. Summit Investment Advisors Inc. raised its position in Weave Communications by 28.9% during the fourth 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 in the last quarter. Amundi acquired a new position in Weave Communications during the fourth quarter valued at approximately $66,000. KLP Kapitalforvaltning AS acquired a new position in Weave Communications during the fourth quarter valued at approximately $131,000. Finally, US Bancorp DE raised its position in Weave Communications by 8.4% during the fourth quarter. US Bancorp DE now owns 9,053 shares of the company's stock valued at $144,000 after purchasing an additional 703 shares in the last quarter. Institutional investors own 86.83% of the company's stock.

Weave Communications Stock Up 5.1%

NYSE WEAV traded up $0.54 during trading hours on Monday, hitting $10.97. The company's stock had a trading volume of 273,089 shares, compared to its average volume of 725,893. Weave Communications, Inc. has a 52 week low of $8.18 and a 52 week high of $17.63. The company has a market capitalization of $821.28 million, a PE ratio of -28.10 and a beta of 1.97. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09. The company's 50-day simple moving average is $10.53 and its two-hundred day simple moving average is $13.49.

Weave Communications (NYSE:WEAV - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.12). Weave Communications had a negative return on equity of 28.37% and a negative net margin of 13.87%. The firm had revenue of $55.81 million for the quarter, compared to the consensus estimate of $54.72 million. Research analysts anticipate that Weave Communications, Inc. will post -0.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WEAV. Piper Sandler boosted their target price on shares of Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Raymond James cut their price target on shares of Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, April 29th. Finally, Stifel Nicolaus cut their price target on shares of Weave Communications from $20.00 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $16.10.

Insider Activity

In other news, insider Branden Neish sold 20,232 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $10.23, for a total transaction of $206,973.36. Following the sale, the insider now owns 526,011 shares in the company, valued at $5,381,092.53. This represents a 3.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brett T. White sold 54,051 shares of the firm's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $10.23, for a total transaction of $552,941.73. Following the completion of the sale, the chief executive officer now owns 2,086,384 shares in the company, valued at $21,343,708.32. This represents a 2.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 437,550 shares of company stock worth $5,577,180 in the last three months. Corporate insiders own 18.40% of the company's stock.

About Weave Communications

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.