Weave Communications, Inc. $WEAV Shares Sold by Eventide Asset Management LLC

Key Points

• Eventide Asset Management LLC has reduced its holdings in Weave Communications by 16.5%, now owning 928,642 shares valued at $10.3 million.
• Analysts have revised their price targets for Weave Communications, with Raymond James lowering its target from $17.00 to $15.00 while maintaining a "strong-buy" rating.
• Insider Erin Goodsell and CRO Joseph David Mcneil sold a total of 21,774 shares in June, collectively reducing their ownership percentages in the company.

Eventide Asset Management LLC reduced its stake in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) by 16.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 928,642 shares of the company's stock after selling 183,898 shares during the period. Eventide Asset Management LLC owned approximately 1.24% of Weave Communications worth $10,298,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in shares of Weave Communications during the first quarter worth $29,000. a16z Perennial Management L.P. acquired a new position in Weave Communications during the first quarter valued at $36,000. Amundi lifted its position in Weave Communications by 27.1% during the first quarter. Amundi now owns 5,301 shares of the company's stock valued at $59,000 after purchasing an additional 1,130 shares during the period. Values First Advisors Inc. acquired a new position in shares of Weave Communications in the first quarter worth about $128,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Weave Communications by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,120 shares of the company's stock worth $134,000 after acquiring an additional 1,217 shares during the period. 86.83% of the stock is currently owned by institutional investors and hedge funds.

Weave Communications Stock Up 1.9%

NYSE:WEAV traded up $0.14 during trading hours on Friday, reaching $7.72. 979,279 shares of the stock were exchanged, compared to its average volume of 1,010,461. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.09. Weave Communications, Inc. has a twelve month low of $6.75 and a twelve month high of $17.63. The business has a 50-day moving average of $7.80 and a two-hundred day moving average of $9.43.

Analysts Set New Price Targets

A number of research firms have recently commented on WEAV. Stifel Nicolaus cut their target price 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 cut their price objective on shares of 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 research 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. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $15.10.

Insider Activity at Weave Communications

In related news, CEO Brett T. White sold 53,111 shares of Weave Communications stock in a transaction on Monday, June 16th. The shares were sold at an average price of $8.59, for a total transaction of $456,223.49. Following the sale, the chief executive officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the insider directly owned 584,657 shares in the company, valued at $5,022,203.63. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,294 shares of company stock valued at $739,723 over the last quarter. 18.40% of the stock is owned by insiders.

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.