Ameriprise Financial Inc. Sells 42,319 Shares of Weave Communications, Inc. (NYSE:WEAV)

Ameriprise Financial Inc. lowered its stake in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 27.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 109,421 shares of the company's stock after selling 42,319 shares during the period. Ameriprise Financial Inc. owned approximately 0.15% of Weave Communications worth $1,742,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in WEAV. Aquatic Capital Management LLC bought a new position in shares of Weave Communications in the 4th quarter valued at approximately $34,000. Summit Investment Advisors Inc. grew its holdings 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 during the last quarter. Amundi bought a new position in shares of Weave Communications in the fourth quarter valued at approximately $66,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Weave Communications in the fourth quarter worth $131,000. Finally, US Bancorp DE lifted its stake in shares of Weave Communications by 8.4% in the fourth quarter. US Bancorp DE now owns 9,053 shares of the company's stock worth $144,000 after buying an additional 703 shares during the last quarter. Institutional investors and hedge funds own 86.83% of the company's stock.

Insider Activity

In other Weave Communications news, COO Marcus Bertilson sold 27,599 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $11.33, for a total transaction of $312,696.67. Following the completion of the transaction, the chief operating officer now owns 248,502 shares in the company, valued at $2,815,527.66. This trade represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brett T. White sold 109,722 shares of Weave Communications stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $11.26, for a total value of $1,235,469.72. Following the sale, the chief executive officer now directly owns 1,790,435 shares in the company, valued at $20,160,298.10. The trade was a 5.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 320,014 shares of company stock worth $3,522,274. Company insiders own 18.40% of the company's stock.

Weave Communications Stock Performance

Weave Communications stock traded up $0.07 during mid-day trading on Wednesday, reaching $9.68. The company had a trading volume of 533,345 shares, compared to its average volume of 757,069. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The firm has a market cap of $727.76 million, a price-to-earnings ratio of -24.82 and a beta of 1.97. The company has a 50 day moving average of $10.02 and a 200-day moving average of $13.05. Weave Communications, Inc. has a 52 week low of $8.40 and a 52 week high of $17.63.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Stifel Nicolaus lowered their target price on shares of Weave Communications from $20.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Raymond James lowered their price target on 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, Piper Sandler boosted their price objective on Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently 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.