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

Other large investors have also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new position in Weave Communications in the first quarter valued at approximately $29,000. a16z Perennial Management L.P. acquired a new position in Weave Communications in the first quarter valued at approximately $36,000. Amundi lifted its holdings in Weave Communications by 27.1% in the first quarter. Amundi now owns 5,301 shares of the company's stock valued at $59,000 after acquiring an additional 1,130 shares during the last quarter. Values First Advisors Inc. acquired a new position in Weave Communications in the first quarter valued at approximately $128,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Weave Communications by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,120 shares of the company's stock valued at $134,000 after acquiring an additional 1,217 shares during the last quarter. 86.83% of the stock is currently owned by institutional investors and hedge funds.

Weave Communications Stock Down 0.9%

Shares of Weave Communications stock traded down $0.07 during trading hours on Tuesday, reaching $7.66. 744,014 shares of the company were exchanged, compared to its average volume of 942,948. Weave Communications, Inc. has a 1 year low of $6.75 and a 1 year high of $17.63. The stock's fifty day moving average is $7.72 and its 200 day moving average is $9.22. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $590.10 million, a PE ratio of -19.15 and a beta of 1.75.

Analysts Set New Price Targets

WEAV has been the topic of a number of research reports. Raymond James Financial decreased their price target on Weave Communications from $17.00 to $15.00 and set a "strong-buy" rating on the stock in a research note on Friday, August 1st. Stifel Nicolaus decreased their price target on Weave Communications from $16.00 to $13.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $15.10.

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.