Acadian Asset Management LLC Has $5.49 Million Stock Holdings in Weave Communications, Inc. $WEAV

Key Points

• Acadian Asset Management LLC has reduced its holdings in Weave Communications by 28.8%, now owning approximately 0.66% of the company, valued at around $5.49 million.
• Several institutional investors have adjusted their stakes in Weave Communications, including MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. and Amundi, which increased their holdings by 4.6% and 27.1% respectively.
• The stock's consensus rating remains a Buy with an average price target of $15.10, despite recent decreases in target prices from various brokerages.

Acadian Asset Management LLC trimmed its holdings in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 28.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 495,483 shares of the company's stock after selling 199,968 shares during the quarter. Acadian Asset Management LLC owned 0.66% of Weave Communications worth $5,493,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Weave Communications by 4.3% during the first quarter. Vanguard Group Inc. now owns 4,731,398 shares of the company's stock valued at $52,471,000 after buying an additional 194,936 shares in the last quarter. Millennium Management LLC lifted its stake in Weave Communications by 176.4% during the fourth quarter. Millennium Management LLC now owns 985,018 shares of the company's stock valued at $15,681,000 after buying an additional 628,705 shares in the last quarter. Raymond James Financial Inc. lifted its stake in Weave Communications by 3.2% during the first quarter. Raymond James Financial Inc. now owns 971,522 shares of the company's stock valued at $10,774,000 after buying an additional 30,312 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in Weave Communications by 41.3% during the fourth quarter. Nuveen Asset Management LLC now owns 824,581 shares of the company's stock valued at $13,127,000 after buying an additional 240,882 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Weave Communications during the first quarter valued at about $8,720,000. 86.83% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Weave Communications

In related news, CFO Jason Paul Christiansen sold 4,131 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $7.73, for a total value of $31,932.63. Following the transaction, the chief financial officer owned 317,381 shares in the company, valued at approximately $2,453,355.13. This represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Marcus Bertilson sold 13,836 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $7.73, for a total value of $106,952.28. Following the completion of the transaction, the chief operating officer owned 338,592 shares in the company, valued at $2,617,316.16. This represents a 3.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,741 shares of company stock valued at $724,618 in the last ninety days. 18.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Raymond James Financial reduced their price objective on shares of Weave Communications from $17.00 to $15.00 and set a "strong-buy" rating for the company in a research note on Friday, August 1st. Stifel Nicolaus reduced their price objective on shares of Weave Communications from $16.00 to $13.00 and set a "buy" rating for the company in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $15.10.

Weave Communications Price Performance

Shares of WEAV remained flat at $7.70 during trading hours on Thursday. The stock had a trading volume of 1,016,280 shares, compared to its average volume of 798,538. The company has a market cap of $593.21 million, a price-to-earnings ratio of -19.25 and a beta of 1.75. Weave Communications, Inc. has a one year low of $6.75 and a one year high of $17.63. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average of $7.66 and a 200 day moving average of $9.16.

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.