Knights of Columbus Asset Advisors LLC Buys 34,285 Shares of Weave Communications, Inc. (NYSE:WEAV)

Key Points

• Knights of Columbus Asset Advisors LLC increased its position in Weave Communications by 52.0% in Q1, now owning approximately 100,192 shares valued at $1.11 million.
• Weave Communications reported a loss of $0.11 per share, missing the consensus estimate by ($0.12), despite achieving a revenue of $55.81 million.
• Analysts have set a consensus rating of "Buy" for Weave Communications, with an average target price of $16.10, following multiple price target adjustments.

Knights of Columbus Asset Advisors LLC boosted its stake in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) by 52.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,192 shares of the company's stock after purchasing an additional 34,285 shares during the quarter. Knights of Columbus Asset Advisors LLC owned 0.13% of Weave Communications worth $1,111,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. a16z Perennial Management L.P. bought a new stake in Weave Communications in the 1st quarter valued at $36,000. Y Intercept Hong Kong Ltd lifted its position in Weave Communications by 150.3% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 68,659 shares of the company's stock worth $761,000 after buying an additional 41,231 shares in the last quarter. Arizona State Retirement System lifted its position in Weave Communications by 20.2% during the 1st quarter. Arizona State Retirement System now owns 12,524 shares of the company's stock worth $139,000 after buying an additional 2,103 shares in the last quarter. Cerity Partners LLC lifted its position in Weave Communications by 55.4% during the 1st quarter. Cerity Partners LLC now owns 15,542 shares of the company's stock worth $172,000 after buying an additional 5,540 shares in the last quarter. Finally, Values First Advisors Inc. acquired a new position in Weave Communications during the 1st quarter valued at about $128,000. 86.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Weave Communications

In other news, CEO Brett T. White sold 53,111 shares of Weave Communications stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $8.59, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Marcus Bertilson sold 11,409 shares of Weave Communications stock in a transaction that occurred on Tuesday, June 17th. The shares were 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 $3,003,353.29. This trade represents a 3.14% 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 ninety days. 18.40% of the stock is currently owned by company insiders.

Weave Communications Stock Up 0.2%

WEAV stock traded up $0.02 during mid-day trading on Wednesday, hitting $7.64. 150,671 shares of the company were exchanged, compared to its average volume of 906,054. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market cap of $574.00 million, a P/E ratio of -18.62 and a beta of 1.76. The firm's 50 day simple moving average is $8.70 and its 200 day simple moving average is $11.24. Weave Communications, Inc. has a 1-year low of $7.25 and a 1-year high of $17.63.

Weave Communications (NYSE:WEAV - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.12). The company had revenue of $55.81 million for the quarter, compared to analyst estimates of $54.72 million. Weave Communications had a negative return on equity of 31.08% and a negative net margin of 14.07%. On average, sell-side analysts predict that Weave Communications, Inc. will post -0.33 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on WEAV shares. Piper Sandler upped their target price on shares of Weave Communications from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Stifel Nicolaus cut their price target on shares of Weave Communications from $20.00 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, Raymond James Financial cut their price target on shares of Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, April 29th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $16.10.

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.