Lazard Asset Management LLC Raises Holdings in Weave Communications, Inc. (NYSE:WEAV)

Lazard Asset Management LLC lifted its holdings in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 42.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 80,153 shares of the company's stock after purchasing an additional 23,824 shares during the quarter. Lazard Asset Management LLC owned 0.11% of Weave Communications worth $1,276,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of WEAV. Aquatic Capital Management LLC purchased a new position in Weave Communications during the fourth quarter worth $34,000. Amundi purchased a new position in Weave Communications during the fourth quarter worth $66,000. Summit Investment Advisors Inc. boosted its stake in Weave Communications by 28.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company's stock worth $66,000 after buying an additional 928 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Weave Communications during the fourth quarter worth $131,000. Finally, US Bancorp DE boosted its stake in Weave Communications by 8.4% during the fourth quarter. US Bancorp DE now owns 9,053 shares of the company's stock worth $144,000 after buying an additional 703 shares during the period. 86.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WEAV has been the subject of a number of recent analyst reports. Raymond James lowered their target price on shares of Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating for the company in a research note on Tuesday, April 29th. Stifel Nicolaus lowered their target price on shares of Weave Communications from $20.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Piper Sandler boosted their target price on shares of Weave Communications from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $16.10.

Weave Communications Trading Down 1.5%

Shares of WEAV traded down $0.15 during trading hours on Friday, reaching $9.60. 624,438 shares of the company traded hands, compared to its average volume of 746,155. The firm has a market cap of $721.37 million, a price-to-earnings ratio of -24.60 and a beta of 1.97. Weave Communications, Inc. has a 12-month low of $8.18 and a 12-month high of $17.63. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09. The stock's fifty day moving average price is $10.34 and its 200 day moving average price is $13.27.

Weave Communications (NYSE:WEAV - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.12). The firm had revenue of $55.81 million during the quarter, compared to the consensus estimate of $54.72 million. Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. Sell-side analysts forecast that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

Insider Activity at Weave Communications

In related news, CEO Brett T. White sold 109,722 shares of Weave Communications stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $11.26, for a total value of $1,235,469.72. Following the completion of the sale, the chief executive officer now directly owns 1,790,435 shares in the company, valued at $20,160,298.10. The trade was a 5.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Branden Neish sold 20,232 shares of Weave Communications stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $10.23, for a total value of $206,973.36. Following the completion of the sale, the insider now owns 526,011 shares of the company's stock, valued at $5,381,092.53. The trade was a 3.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 320,014 shares of company stock worth $3,522,274 over the last three months. 18.40% of the stock is owned by corporate insiders.

About Weave Communications

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.