Dynamic Technology Lab Private Ltd Purchases New Position in Weave Communications, Inc. $WEAV

Key Points

• Dynamic Technology Lab Private Ltd has acquired a new stake in Weave Communications, Inc. by purchasing 34,358 shares valued at approximately $381,000 in the 1st quarter of the year.
• Weave Communications' stock has shown a 5.4% increase recently, with current trading around $7.99 and a market capitalization of $615.55 million.
• Insider transactions revealed that CEO Brett T. White sold 53,111 shares for over $456,000, indicating a 2.58% decrease in their ownership stake.

Dynamic Technology Lab Private Ltd purchased a new stake in Weave Communications, Inc. (NYSE:WEAV - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 34,358 shares of the company's stock, valued at approximately $381,000.

Other large investors have also made changes to their positions in the company. Summit Securities Group LLC bought a new stake in shares of Weave Communications in the 1st quarter valued at approximately $29,000. a16z Perennial Management L.P. acquired a new stake in Weave Communications in the 1st quarter worth approximately $36,000. Amundi lifted its holdings in Weave Communications by 27.1% in the 1st quarter. Amundi now owns 5,301 shares of the company's stock worth $59,000 after purchasing an additional 1,130 shares during the last quarter. Values First Advisors Inc. acquired a new stake in Weave Communications in the 1st quarter worth approximately $128,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Weave Communications by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,120 shares of the company's stock worth $134,000 after purchasing an additional 1,217 shares during the last quarter. Institutional investors own 86.83% of the company's stock.

Weave Communications Stock Up 5.4%

WEAV opened at $7.99 on Friday. Weave Communications, Inc. has a 1-year low of $6.75 and a 1-year high of $17.63. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $615.55 million, a price-to-earnings ratio of -19.98 and a beta of 1.75. The business has a 50 day moving average of $7.76 and a 200-day moving average of $9.33.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Stifel Nicolaus reduced their target price on Weave Communications from $16.00 to $13.00 and set a "buy" rating for the company in a report 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 for the company in a report on Friday, August 1st. One equities research 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 MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $15.10.

Insiders Place Their Bets

In other news, CEO Brett T. White sold 53,111 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 2,004,136 shares of the company's stock, valued at approximately $17,215,528.24. This represents a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Joseph David Mcneil sold 14,302 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $8.53, for a total value of $121,996.06. Following the completion of the sale, the executive directly owned 409,060 shares of the company's stock, valued at $3,489,281.80. This represents a 3.38% 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 over the last ninety days. 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.

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