Cubist Systematic Strategies LLC Cuts Position in Weave Communications, Inc. $WEAV

Key Points

• Cubist Systematic Strategies LLC significantly reduced its holdings in Weave Communications by 77.9%, owning approximately $822,000 worth of the stock as of its latest SEC filing.
• Several large investors, including Price T Rowe Associates and Bank of America, have modified their positions in Weave Communications, with 86.83% of the stock currently held by institutional investors and hedge funds.
• Analysts have a consensus rating of "Buy" for Weave Communications, with a revised price target averaging $15.10, despite the stock recently trading at around $7.81.

Cubist Systematic Strategies LLC cut its holdings in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 77.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,126 shares of the company's stock after selling 261,938 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.10% of Weave Communications worth $822,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Graham Capital Management L.P. lifted its stake in Weave Communications by 19.5% in the first quarter. Graham Capital Management L.P. now owns 52,085 shares of the company's stock worth $578,000 after purchasing an additional 8,483 shares during the last quarter. Magnetar Financial LLC bought a new stake in Weave Communications in the first quarter worth $483,000. Next Century Growth Investors LLC lifted its stake in Weave Communications by 8.0% in the first quarter. Next Century Growth Investors LLC now owns 387,817 shares of the company's stock worth $4,301,000 after purchasing an additional 28,886 shares during the last quarter. Truvestments Capital LLC raised its stake in shares of Weave Communications by 22.3% during the first quarter. Truvestments Capital LLC now owns 30,050 shares of the company's stock valued at $333,000 after acquiring an additional 5,474 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG raised its stake in shares of Weave Communications by 9.8% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 66,039 shares of the company's stock valued at $732,000 after acquiring an additional 5,892 shares during the last quarter. 86.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Stifel Nicolaus lowered 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 note on Friday, August 1st. Raymond James Financial reduced their target price 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. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $15.10.

Weave Communications Trading Up 0.9%

Shares of NYSE WEAV traded up $0.07 during midday trading on Monday, hitting $7.74. 548,590 shares of the company traded hands, compared to its average volume of 838,317. Weave Communications, Inc. has a 12-month low of $6.75 and a 12-month high of $17.63. 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 stock has a 50-day moving average price of $7.72 and a 200 day moving average price of $9.22. The firm has a market cap of $596.29 million, a P/E ratio of -19.35 and a beta of 1.75.

Insider Activity

In related news, CRO Joseph David Mcneil sold 14,302 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $8.53, for a total transaction of $121,996.06. Following the transaction, the executive owned 409,060 shares in the company, valued at $3,489,281.80. The trade was a 3.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Marcus Bertilson sold 11,409 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $8.53, for a total transaction of $97,318.77. Following the completion of the sale, the chief operating officer owned 352,093 shares in the company, valued at approximately $3,003,353.29. This trade represents a 3.14% decrease in their position. The disclosure for this sale can be found here. 18.40% of the stock is owned by 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.