Weave Communications, Inc. (NYSE:WEAV) Shares Acquired by Driehaus Capital Management LLC

Driehaus Capital Management LLC raised its position in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) by 57.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 855,502 shares of the company's stock after purchasing an additional 313,618 shares during the quarter. Driehaus Capital Management LLC owned 1.18% of Weave Communications worth $13,620,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wasatch Advisors LP grew its holdings in Weave Communications by 38.4% during the 4th quarter. Wasatch Advisors LP now owns 5,205,665 shares of the company's stock valued at $82,874,000 after buying an additional 1,444,828 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Weave Communications by 202.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,650,760 shares of the company's stock worth $26,280,000 after buying an additional 1,105,728 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Weave Communications during the 4th quarter worth approximately $14,984,000. Voya Investment Management LLC boosted its holdings in Weave Communications by 509.2% in the fourth quarter. Voya Investment Management LLC now owns 1,099,255 shares of the company's stock worth $17,500,000 after acquiring an additional 918,804 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Weave Communications by 23.5% in the fourth quarter. Vanguard Group Inc. now owns 4,536,462 shares of the company's stock worth $72,220,000 after purchasing an additional 863,547 shares during the last quarter. Institutional investors own 86.83% of the company's stock.

Insider Buying and Selling

In other Weave Communications news, CEO Brett T. White sold 109,722 shares of Weave Communications stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $11.26, for a total transaction of $1,235,469.72. Following the transaction, the chief executive officer now owns 1,790,435 shares of the company's stock, valued at $20,160,298.10. The trade was a 5.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Blake G. Modersitzki sold 41,991 shares of Weave Communications stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $17.48, for a total value of $734,002.68. Following the transaction, the director now directly owns 183,937 shares in the company, valued at approximately $3,215,218.76. This trade represents a 18.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 436,761 shares of company stock worth $5,563,759. Insiders own 18.40% of the company's stock.

Weave Communications Price Performance

Shares of WEAV traded down $0.18 during trading hours on Thursday, hitting $10.84. 207,164 shares of the stock were exchanged, compared to its average volume of 727,011. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59. Weave Communications, Inc. has a 12-month low of $8.18 and a 12-month high of $17.63. The company has a market cap of $811.54 million, a price-to-earnings ratio of -27.76 and a beta of 1.97. The stock's 50-day moving average price is $10.48 and its two-hundred day moving average price is $13.44.

Weave Communications (NYSE:WEAV - Get Free Report) last issued its quarterly 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). The firm had revenue of $55.81 million for the quarter, compared to analysts' expectations of $54.72 million. Weave Communications had a negative return on equity of 28.37% and a negative net margin of 13.87%. Research analysts expect that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

Analyst Ratings Changes

WEAV has been the subject of a number of recent analyst reports. Piper Sandler boosted their price objective on Weave Communications from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Stifel Nicolaus decreased their price objective on shares of Weave Communications from $20.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Raymond James decreased 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 report on Tuesday, April 29th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $16.10.

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.