Driehaus Capital Management LLC Boosts Position in Weave Communications, Inc. (NYSE:WEAV)

Driehaus Capital Management LLC boosted its holdings in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) by 57.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 855,502 shares of the company's stock after purchasing an additional 313,618 shares during the period. Driehaus Capital Management LLC owned approximately 1.18% of Weave Communications worth $13,620,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC increased its stake in shares of Weave Communications by 106.3% during the 4th quarter. Cubist Systematic Strategies LLC now owns 336,064 shares of the company's stock worth $5,350,000 after purchasing an additional 173,177 shares during the last quarter. Centiva Capital LP bought a new position in shares of Weave Communications during the 4th quarter worth about $310,000. Brevan Howard Capital Management LP bought a new position in shares of Weave Communications during the 4th quarter worth about $397,000. Caxton Associates LP acquired a new stake in shares of Weave Communications during the 4th quarter worth about $370,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Weave Communications during the 4th quarter worth about $249,000. 86.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Blake G. Modersitzki sold 74,756 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $17.49, for a total value of $1,307,482.44. Following the completion of the transaction, the director now owns 179,153 shares in the company, valued at $3,133,385.97. This trade represents a 29.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Alan Taylor sold 31,262 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $11.16, for a total transaction of $348,883.92. Following the completion of the transaction, the chief financial officer now owns 247,484 shares of the company's stock, valued at approximately $2,761,921.44. This represents a 11.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 437,550 shares of company stock worth $5,577,180 over the last quarter. 18.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

WEAV has been the subject of several analyst reports. Stifel Nicolaus lowered their price target on shares of Weave Communications from $20.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Piper Sandler boosted their price objective on shares of Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Finally, Raymond James cut their price objective 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. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Weave Communications presently has an average rating of "Buy" and a consensus price target of $16.10.

Weave Communications Price Performance

Shares of WEAV traded down $0.01 during trading hours on Wednesday, reaching $11.01. 516,210 shares of the company's stock traded hands, compared to its average volume of 727,360. 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, Inc. has a 12 month low of $8.18 and a 12 month high of $17.63. The stock has a market cap of $824.65 million, a PE ratio of -28.23 and a beta of 1.97. The firm's 50 day simple moving average is $10.49 and its 200-day simple moving average is $13.45.

Weave Communications (NYSE:WEAV - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $55.81 million during the quarter, compared to the consensus estimate of $54.72 million. Equities analysts expect that Weave Communications, Inc. will post -0.33 EPS for the current year.

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.