Weave Communications, Inc. (NYSE:WEAV) Holdings Boosted by Millennium Management LLC

Millennium Management LLC grew its holdings in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) by 176.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 985,018 shares of the company's stock after purchasing an additional 628,705 shares during the period. Millennium Management LLC owned 1.35% of Weave Communications worth $15,681,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in Weave Communications by 33.0% during the fourth quarter. Principal Financial Group Inc. now owns 119,351 shares of the company's stock worth $1,900,000 after acquiring an additional 29,583 shares during the period. JPMorgan Chase & Co. raised its position in shares of Weave Communications by 13.8% during the 3rd 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 period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Weave Communications by 6.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 464,330 shares of the company's stock worth $7,392,000 after purchasing an additional 29,231 shares during the last quarter. Driehaus Capital Management LLC boosted its position in Weave Communications by 57.9% during the 4th quarter. Driehaus Capital Management LLC now owns 855,502 shares of the company's stock valued at $13,620,000 after purchasing an additional 313,618 shares during the period. Finally, Geode Capital Management LLC boosted its position in Weave Communications by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 894,331 shares of the company's stock valued at $14,242,000 after purchasing an additional 11,124 shares during the period. 86.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on WEAV shares. Piper Sandler increased their target price on Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Stifel Nicolaus dropped 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. Finally, Raymond James cut their price objective 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 investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $16.10.

Weave Communications Price Performance

Shares of Weave Communications stock traded up $0.36 on Tuesday, hitting $9.95. The company had a trading volume of 319,032 shares, compared to its average volume of 907,930. Weave Communications, Inc. has a 52 week low of $8.18 and a 52 week high of $17.63. 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 company has a market cap of $747.68 million, a PE ratio of -25.50 and a beta of 1.97. The business has a 50-day simple moving average of $10.30 and a 200-day simple moving average of $13.24.

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

Insider Activity

In related news, CEO Brett T. White sold 54,051 shares of Weave Communications stock in a transaction dated 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 owns 2,086,384 shares of the company's stock, valued at approximately $21,343,708.32. This trade represents a 2.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Branden Neish sold 20,232 shares of the business's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $10.23, for a total value of $206,973.36. Following the sale, the insider now owns 526,011 shares in the company, valued at approximately $5,381,092.53. The trade was a 3.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 320,014 shares of company stock worth $3,522,274. 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.