Harbor Capital Advisors Inc. Increases Stock Holdings in Weave Communications, Inc. $WEAV

Key Points

• Harbor Capital Advisors Inc. increased its stake in Weave Communications by 42.4% in Q2, owning 159,460 shares valued at approximately $1.33 million.
• Analysts have given Weave Communications an average rating of “Buy” with a consensus target price of $15.10, following adjustments to earlier price objectives.
• Insider selling activity was noted, with CFO Jason Christiansen and CRO Joseph Mcneil selling a combined 18,367 shares recently, reflecting a decrease in their ownership positions.

Harbor Capital Advisors Inc. raised its stake in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) by 42.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 159,460 shares of the company's stock after buying an additional 47,491 shares during the period. Harbor Capital Advisors Inc. owned about 0.21% of Weave Communications worth $1,327,000 at the end of the most recent quarter.

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

Weave Communications Price Performance

NYSE WEAV traded up $0.19 during mid-day trading on Monday, hitting $7.80. The stock had a trading volume of 1,096,176 shares, compared to its average volume of 885,329. The firm's 50 day moving average is $7.66 and its 200 day moving average is $9.07. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market capitalization of $600.53 million, a price-to-earnings ratio of -19.49 and a beta of 1.75. Weave Communications, Inc. has a twelve month low of $6.75 and a twelve month high of $17.63.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on WEAV shares. Raymond James Financial reduced their price target 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. Stifel Nicolaus reduced 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 equities 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $15.10.

Insider Transactions at Weave Communications

In other news, CRO Joseph David Mcneil sold 14,236 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $7.73, for a total transaction of $110,044.28. Following the transaction, the executive directly owned 394,824 shares in the company, valued at $3,051,989.52. The trade was a 3.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Marcus Bertilson sold 13,836 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $7.73, for a total value of $106,952.28. Following the completion of the sale, the chief operating officer directly owned 338,592 shares of the company's stock, valued at approximately $2,617,316.16. This represents a 3.93% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,741 shares of company stock valued at $724,618. Company insiders own 18.40% of the company's stock.

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.