Magnetar Financial LLC Purchases Shares of 43,583 Weave Communications, Inc. $WEAV

Key Points

• Magnetar Financial LLC acquired a new position in Weave Communications, purchasing 43,583 shares valued at approximately $483,000 in Q1, giving them a 0.06% stake in the company.
• Institutional investors currently own 86.83% of Weave Communications' stock, indicating strong backing from major investors.
• Recent analyst ratings show a consensus of "Buy" for WEAV, with price targets ranging from $13.00 to $15.00 following adjustments from several financial firms.

Magnetar Financial LLC acquired a new position in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 43,583 shares of the company's stock, valued at approximately $483,000. Magnetar Financial LLC owned about 0.06% of Weave Communications as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its stake in shares of Weave Communications by 47.1% in the 4th quarter. Wells Fargo & Company MN now owns 20,157 shares of the company's stock valued at $321,000 after purchasing an additional 6,456 shares during the period. Mariner LLC lifted its stake in shares of Weave Communications by 43.9% in the 4th quarter. Mariner LLC now owns 14,611 shares of the company's stock valued at $233,000 after purchasing an additional 4,459 shares during the period. MetLife Investment Management LLC raised its stake in Weave Communications by 2.6% during the 4th quarter. MetLife Investment Management LLC now owns 24,387 shares of the company's stock worth $388,000 after buying an additional 620 shares during the period. Hsbc Holdings PLC lifted its holdings in Weave Communications by 18.1% during the fourth quarter. Hsbc Holdings PLC now owns 20,821 shares of the company's stock worth $332,000 after acquiring an additional 3,196 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Weave Communications by 27.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,969 shares of the company's stock valued at $255,000 after purchasing an additional 3,456 shares in the last quarter. Institutional investors and hedge funds own 86.83% of the company's stock.

Weave Communications Price Performance

Shares of WEAV stock traded down $0.12 during trading on Wednesday, hitting $7.63. The company had a trading volume of 726,004 shares, compared to its average volume of 1,137,817. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market capitalization of $587.43 million, a P/E ratio of -19.06 and a beta of 1.75. The stock's 50-day moving average price is $7.82 and its 200 day moving average price is $9.67. Weave Communications, Inc. has a one year low of $6.75 and a one year high of $17.63.

Insider Buying and Selling

In related news, COO Marcus Bertilson sold 11,409 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $8.53, for a total value of $97,318.77. Following the completion of the sale, the chief operating officer directly owned 352,093 shares in the company, valued at approximately $3,003,353.29. The trade was a 3.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brett T. White sold 53,111 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $8.59, for a total value of $456,223.49. Following the sale, the chief executive officer owned 2,004,136 shares of the company's stock, valued at $17,215,528.24. The trade was a 2.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,294 shares of company stock valued at $739,723. 18.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WEAV. Raymond James Financial lowered their target price 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 lowered their price target on Weave Communications from $16.00 to $13.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Finally, Piper Sandler boosted their price target on Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $15.10.

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.