Goldman Sachs Group Inc. Lowers Holdings in Weave Communications, Inc. $WEAV

Key Points

• Goldman Sachs Group Inc. reduced its stake in Weave Communications by 31.8%, owning 386,544 shares worth approximately $4.29 million as of its latest SEC filing.
• Weave Communications has a market capitalization of $592.82 million, with shares trading at $7.70, reflecting a 1-year low of $6.75 and a high of $17.63.
• A consensus rating of "Buy" has been established for Weave Communications, with analysts setting a price target average of $15.10.

Goldman Sachs Group Inc. reduced its position in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 31.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 386,544 shares of the company's stock after selling 179,914 shares during the quarter. Goldman Sachs Group Inc. owned about 0.51% of Weave Communications worth $4,287,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Voya Investment Management LLC increased its stake in shares of Weave Communications by 26.2% in the first quarter. Voya Investment Management LLC now owns 1,387,040 shares of the company's stock valued at $15,382,000 after buying an additional 287,785 shares during the period. Rhumbline Advisers increased its position in shares of Weave Communications by 9.1% during the first quarter. Rhumbline Advisers now owns 55,109 shares of the company's stock worth $611,000 after acquiring an additional 4,594 shares in the last quarter. Voleon Capital Management LP boosted its holdings in Weave Communications by 54.2% during the 1st quarter. Voleon Capital Management LP now owns 31,919 shares of the company's stock worth $354,000 after acquiring an additional 11,215 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Weave Communications during the 1st quarter worth $381,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Weave Communications by 6.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,918 shares of the company's stock valued at $265,000 after acquiring an additional 1,457 shares during the last quarter. 86.83% of the stock is owned by institutional investors.

Insider Activity at Weave Communications

In other Weave Communications news, insider Erin Goodsell sold 7,585 shares of the firm'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 of the company's stock, valued at approximately $4,280,271.06. This trade represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jason Paul Christiansen sold 4,131 shares of Weave Communications stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $7.73, for a total value of $31,932.63. Following the transaction, the chief financial officer directly owned 317,381 shares in the company, valued at approximately $2,453,355.13. The trade was a 1.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,741 shares of company stock valued at $724,618 over the last three months. 18.40% of the stock is owned by insiders.

Weave Communications Stock Down 1.1%

WEAV traded down $0.09 during trading on Friday, reaching $7.61. The stock had a trading volume of 3,451,969 shares, compared to its average volume of 799,778. The stock's 50 day moving average is $7.66 and its two-hundred day moving average is $9.13. 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 company has a market capitalization of $585.89 million, a price-to-earnings ratio of -19.01 and a beta of 1.75. Weave Communications, Inc. has a one year low of $6.75 and a one year high of $17.63.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Raymond James Financial decreased their price target on Weave Communications from $17.00 to $15.00 and set a "strong-buy" rating on the stock in a research report on Friday, August 1st. Stifel Nicolaus cut their target price 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. One investment 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. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $15.10.

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.