Nuveen LLC Takes $8.72 Million Position in Weave Communications, Inc. $WEAV

Key Points

• Nuveen LLC acquired a new stake in Weave Communications by purchasing 786,336 shares worth approximately $8.72 million in the first quarter, representing about 1.05% ownership of the company.
• Institutional investors hold a significant majority, with 86.83% ownership of Weave Communications stock, indicating strong interest from large investment firms.
• Analysts have mixed ratings, with target prices for Weave Communications stock ranging from $13.00 to $15.00, showing a consensus "Buy" rating and an average target of $15.10.

Nuveen LLC bought a new position in Weave Communications, Inc. (NYSE:WEAV - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 786,336 shares of the company's stock, valued at approximately $8,720,000. Nuveen LLC owned 1.05% of Weave Communications as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Aquatic Capital Management LLC bought a new position in Weave Communications in the 4th quarter worth about $34,000. a16z Perennial Management L.P. bought a new position in Weave Communications in the 1st quarter worth about $36,000. Cerity Partners LLC bought a new position in Weave Communications in the 4th quarter worth about $159,000. Values First Advisors Inc. bought a new position in Weave Communications in the 1st quarter worth about $128,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Weave Communications by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,120 shares of the company's stock worth $134,000 after purchasing an additional 1,217 shares during the period. Institutional investors own 86.83% of the company's stock.

Weave Communications Price Performance

Shares of NYSE WEAV traded up $0.24 during trading hours on Wednesday, reaching $7.76. 618,658 shares of the stock traded hands, compared to its average volume of 959,164. The company has a market capitalization of $597.45 million, a P/E ratio of -19.39 and a beta of 1.74. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.09. Weave Communications, Inc. has a 52-week low of $6.75 and a 52-week high of $17.63. The company's 50-day simple moving average is $7.88 and its two-hundred day simple moving average is $10.02.

Insider Buying and Selling

In other Weave Communications news, CRO Joseph David Mcneil sold 14,302 shares of Weave Communications 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 $121,996.06. Following the transaction, the executive directly owned 409,060 shares of the company's stock, valued at $3,489,281.80. The trade was a 3.38% decrease in their position. The sale 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 stock was sold at an average price of $8.53, for a total value of $97,318.77. Following the completion of the transaction, the chief operating officer directly 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 sold 86,294 shares of company stock valued at $739,723 over the last quarter. Company insiders own 18.40% of the company's stock.

Analyst Ratings Changes

WEAV has been the subject of several analyst reports. Piper Sandler raised their target price on Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Stifel Nicolaus cut their target price on Weave Communications from $16.00 to $13.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Finally, Raymond James Financial cut their target price on Weave Communications from $17.00 to $15.00 and set a "strong-buy" rating for the company in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus 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.