Connor Clark & Lunn Investment Management Ltd. Has $3.97 Million Stock Position in Weave Communications, Inc. $WEAV

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 11.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 357,768 shares of the company's stock after selling 44,678 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.48% of Weave Communications worth $3,968,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in WEAV. JPMorgan Chase & Co. raised its position in shares of Weave Communications by 26.8% during the 4th quarter. JPMorgan Chase & Co. now owns 183,406 shares of the company's stock valued at $2,920,000 after acquiring an additional 38,729 shares in the last quarter. Alliancebernstein L.P. grew its stake in Weave Communications by 12.5% during the 4th quarter. Alliancebernstein L.P. now owns 46,802 shares of the company's stock worth $745,000 after buying an additional 5,182 shares during the last quarter. Geode Capital Management LLC grew its stake in Weave Communications by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 894,331 shares of the company's stock worth $14,242,000 after buying an additional 11,124 shares during the last quarter. Wells Fargo & Company MN grew its stake in Weave Communications by 47.1% during the 4th quarter. Wells Fargo & Company MN now owns 20,157 shares of the company's stock worth $321,000 after buying an additional 6,456 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Weave Communications by 7.1% during the 4th quarter. Russell Investments Group Ltd. now owns 25,031 shares of the company's stock worth $398,000 after buying an additional 1,658 shares during the last quarter. 86.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WEAV has been the subject of a number of recent research reports. Raymond James Financial lowered their price objective on 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 decreased their price target on Weave Communications from $16.00 to $13.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Finally, Piper Sandler raised their target price on Weave Communications from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Weave Communications presently has a consensus rating of "Buy" and a consensus price target of $15.10.

Weave Communications Stock Up 2.2%

Weave Communications stock traded up $0.18 during mid-day trading on Monday, hitting $7.97. The company's stock had a trading volume of 249,344 shares, compared to its average volume of 949,577. The firm's 50 day moving average is $8.08 and its 200 day moving average is $10.42. The company has a market cap of $613.62 million, a PE ratio of -19.91 and a beta of 1.74. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.22 and a quick ratio of 1.22. Weave Communications, Inc. has a 52-week low of $6.75 and a 52-week high of $17.63.

Insiders Place Their Bets

In other news, insider Erin Goodsell sold 7,472 shares of the firm's stock in a transaction dated 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 sale, the insider directly owned 584,657 shares of the company's stock, valued at $5,022,203.63. This trade represents a 1.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Marcus Bertilson sold 11,409 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $8.53, for a total value of $97,318.77. Following the sale, the chief operating officer directly owned 352,093 shares of the company's stock, valued at $3,003,353.29. This trade represents a 3.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,294 shares of company stock valued at $739,723 in the last 90 days. Insiders own 18.40% of the company's stock.

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.