Counterpoint Mutual Funds LLC Makes New $402,000 Investment in Weave Communications, Inc. $WEAV

Key Points

• Counterpoint Mutual Funds LLC has invested approximately $402,000 in Weave Communications, acquiring 48,266 shares, which constitutes about 0.06% of the company.
• Analyst ratings for Weave Communications are mixed, with target prices being revised down; Raymond James lowered its target from $17.00 to $15.00 while maintaining a "strong-buy" rating.
• Insider trading has seen significant activity, with insiders selling a total of 93,741 shares over the last quarter, indicating alterations in ownership dynamics within the company.

Counterpoint Mutual Funds LLC purchased a new stake in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 48,266 shares of the company's stock, valued at approximately $402,000. Counterpoint Mutual Funds LLC owned about 0.06% of Weave Communications as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Rhumbline Advisers boosted its holdings in Weave Communications by 9.1% in the first quarter. Rhumbline Advisers now owns 55,109 shares of the company's stock worth $611,000 after purchasing an additional 4,594 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Weave Communications in the first quarter worth about $186,000. Arizona State Retirement System increased its position in shares of Weave Communications by 20.2% during the 1st quarter. Arizona State Retirement System now owns 12,524 shares of the company's stock valued at $139,000 after purchasing an additional 2,103 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Weave Communications by 31.7% during the 1st quarter. Teacher Retirement System of Texas now owns 52,172 shares of the company's stock valued at $579,000 after purchasing an additional 12,566 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its stake in shares of Weave Communications by 3.2% in the 1st quarter. Raymond James Financial Inc. now owns 971,522 shares of the company's stock worth $10,774,000 after purchasing an additional 30,312 shares during the period. 86.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on WEAV shares. Raymond James Financial cut their target price on shares of 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. Stifel Nicolaus cut 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 report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Weave Communications currently has an average rating of "Buy" and an average price target of $15.10.

Weave Communications Stock Down 3.4%

Shares of WEAV stock opened at $7.53 on Wednesday. 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 one year low of $6.75 and a one year high of $17.63. The company's fifty day moving average price is $7.67 and its 200-day moving average price is $9.06. The company has a market capitalization of $579.73 million, a price-to-earnings ratio of -18.81 and a beta of 1.75.

Insider Buying and Selling at Weave Communications

In other news, insider Erin Goodsell sold 7,585 shares of the business's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $7.73, for a total value of $58,632.05. Following the transaction, the insider directly owned 553,722 shares in the company, valued at $4,280,271.06. The trade was a 1.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Marcus Bertilson sold 13,836 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $7.73, for a total value of $106,952.28. Following the sale, the chief operating officer owned 338,592 shares of the company's stock, valued at $2,617,316.16. This represents a 3.93% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 93,741 shares of company stock valued at $724,618. 18.40% of the stock is currently owned by corporate insiders.

Weave Communications Company 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.

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