Millennium Management LLC Buys 628,705 Shares of Weave Communications, Inc. (NYSE:WEAV)

Millennium Management LLC raised its holdings in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 176.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 985,018 shares of the company's stock after acquiring an additional 628,705 shares during the quarter. Millennium Management LLC owned 1.35% of Weave Communications worth $15,681,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in Weave Communications by 31.9% in the 3rd quarter. Barclays PLC now owns 223,503 shares of the company's stock valued at $2,861,000 after buying an additional 54,019 shares during the period. JPMorgan Chase & Co. lifted its stake in Weave Communications by 13.8% during the third quarter. JPMorgan Chase & Co. now owns 144,677 shares of the company's stock worth $1,852,000 after purchasing an additional 17,530 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Weave Communications by 103.8% during the fourth quarter. SG Americas Securities LLC now owns 30,752 shares of the company's stock valued at $490,000 after purchasing an additional 15,660 shares during the period. Gagnon Securities LLC bought a new stake in shares of Weave Communications in the 4th quarter worth approximately $524,000. Finally, Principal Financial Group Inc. increased its stake in Weave Communications by 33.0% in the 4th quarter. Principal Financial Group Inc. now owns 119,351 shares of the company's stock worth $1,900,000 after purchasing an additional 29,583 shares in the last quarter. 86.83% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Brett T. White sold 54,051 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $10.23, for a total value of $552,941.73. Following the transaction, the chief executive officer now directly owns 2,086,384 shares in the company, valued at $21,343,708.32. This trade represents a 2.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Branden Neish sold 20,232 shares of the stock in a transaction on 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 directly 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. Over the last 90 days, insiders sold 320,014 shares of company stock valued at $3,522,274. 18.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

WEAV has been the subject of several recent analyst reports. Raymond James decreased their price objective on shares of Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating for the company in a report on Tuesday, April 29th. Piper Sandler increased their price objective on shares of Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Finally, Stifel Nicolaus decreased their price objective on shares of Weave Communications from $20.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $16.10.

Weave Communications Stock Performance

WEAV stock traded down $0.20 during midday trading on Wednesday, reaching $9.70. 86,089 shares of the company were exchanged, compared to its average volume of 743,122. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59. The business has a 50-day moving average price of $10.27 and a two-hundred day moving average price of $13.21. Weave Communications, Inc. has a one year low of $8.18 and a one year high of $17.63. The firm has a market capitalization of $728.89 million, a price-to-earnings ratio of -24.87 and a beta of 1.97.

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

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.