Charles Schwab Investment Management Inc. Sells 36,431 Shares of Weave Communications, Inc. $WEAV

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in Weave Communications by 7.8%, owning approximately 427,899 shares worth $4.75 million after selling 36,431 shares in the first quarter.
• A variety of institutional investors have altered their positions in Weave, with Aquatic Capital Management LLC and a16z Perennial Management being notable new entrants, reflecting growing interest in the company.
• Research analysts have set new price targets for Weave Communications, with Stifel Nicolaus lowering their target to $13 and three other firms assigning a Buy rating, indicating continued optimism about the stock's performance.

Charles Schwab Investment Management Inc. lowered its holdings in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 7.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 427,899 shares of the company's stock after selling 36,431 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.57% of Weave Communications worth $4,745,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Weave Communications by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 4,731,398 shares of the company's stock valued at $52,471,000 after purchasing an additional 194,936 shares during the period. US Bancorp DE boosted its position in shares of Weave Communications by 115.7% in the 1st quarter. US Bancorp DE now owns 19,526 shares of the company's stock valued at $217,000 after purchasing an additional 10,473 shares during the period. Federated Hermes Inc. boosted its position in shares of Weave Communications by 0.6% in the 1st quarter. Federated Hermes Inc. now owns 326,069 shares of the company's stock valued at $3,616,000 after purchasing an additional 1,911 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Weave Communications by 29.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,694 shares of the company's stock valued at $207,000 after purchasing an additional 4,288 shares during the period. Finally, Knights of Columbus Asset Advisors LLC boosted its position in shares of Weave Communications by 52.0% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 100,192 shares of the company's stock valued at $1,111,000 after purchasing an additional 34,285 shares during the period. Hedge funds and other institutional investors own 86.83% of the company's stock.

Weave Communications Price Performance

NYSE WEAV traded up $0.09 during mid-day trading on Friday, hitting $7.78. The stock had a trading volume of 606,771 shares, compared to its average volume of 1,286,340. Weave Communications, Inc. has a 52-week low of $6.75 and a 52-week high of $17.63. The company has a market cap of $598.99 million, a price-to-earnings ratio of -19.44 and a beta of 1.74. The company has a 50 day simple moving average of $7.85 and a 200 day simple moving average of $9.77. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.09.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on WEAV shares. Piper Sandler upped their target price 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 Weave Communications from $16.00 to $13.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Finally, Raymond James Financial decreased their price objective on Weave Communications from $17.00 to $15.00 and set a "strong-buy" rating for the company in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $15.10.

Insider Transactions at Weave Communications

In other Weave Communications news, insider Erin Goodsell sold 7,472 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $8.59, for a total transaction of $64,184.48. Following the completion of the transaction, the insider owned 584,657 shares of the company's stock, valued at approximately $5,022,203.63. This trade represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brett T. White sold 53,111 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $8.59, for a total value of $456,223.49. Following the sale, the chief executive officer owned 2,004,136 shares in the company, valued at $17,215,528.24. This trade represents a 2.58% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,294 shares of company stock valued at $739,723. Company insiders own 18.40% of the company's stock.

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.