Osterweis Capital Management Inc. Decreases Position in Weave Communications, Inc. $WEAV

Key Points

• Osterweis Capital Management Inc. has significantly reduced its holdings in Weave Communications, decreasing its stake by 46.4% in the first quarter, resulting in ownership of 345,610 shares valued at approximately $3.83 million.
• Brokerages have recently adjusted their price targets for Weave Communications, with Stifel Nicolaus and Raymond James Financial lowering their targets, while Piper Sandler raised theirs, highlighting a mix of sentiments among analysts.
• Insider trading activity has been notable, with CEO Brett T. White and insider Erin Goodsell selling a combined total of 60,583 shares, indicating potential confidence shifts regarding the company's stock performance.

Osterweis Capital Management Inc. trimmed its position in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 46.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 345,610 shares of the company's stock after selling 299,630 shares during the quarter. Osterweis Capital Management Inc. owned 0.46% of Weave Communications worth $3,833,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. MetLife Investment Management LLC grew its stake in shares of Weave Communications by 2.6% during the fourth 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 last quarter. Summit Investment Advisors Inc. grew its stake in shares of Weave Communications by 28.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company's stock worth $66,000 after purchasing an additional 928 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Weave Communications by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,461 shares of the company's stock valued at $358,000 after acquiring an additional 988 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Weave Communications by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,120 shares of the company's stock valued at $134,000 after acquiring an additional 1,217 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Weave Communications by 7.1% during the 4th quarter. Russell Investments Group Ltd. now owns 25,031 shares of the company's stock worth $398,000 after purchasing an additional 1,658 shares in the last quarter. Institutional investors own 86.83% of the company's stock.

Weave Communications Stock Down 1.1%

NYSE:WEAV traded down $0.0850 on Monday, hitting $7.6750. The stock had a trading volume of 269,110 shares, compared to its average volume of 957,547. 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 stock has a market cap of $591.28 million, a P/E ratio of -19.29 and a beta of 1.74. Weave Communications, Inc. has a 1 year low of $6.75 and a 1 year high of $17.63. The firm's fifty day simple moving average is $7.92 and its two-hundred day simple moving average is $10.10.

Insider Activity

In other news, CEO Brett T. White sold 53,111 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $8.59, for a total transaction of $456,223.49. Following the completion of the sale, the chief executive officer owned 2,004,136 shares in the company, valued at $17,215,528.24. This trade represents a 2.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Marcus Bertilson sold 11,409 shares of the firm'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 transaction of $97,318.77. Following the sale, the chief operating officer owned 352,093 shares of the company's stock, valued at approximately $3,003,353.29. The trade was a 3.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,294 shares of company stock worth $739,723. Corporate insiders own 18.40% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on WEAV. Stifel Nicolaus cut their price objective on shares of Weave Communications from $16.00 to $13.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Piper Sandler upped their target price 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, Raymond James Financial lowered their target price on shares of Weave Communications from $17.00 to $15.00 and set a "strong-buy" rating on the stock in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has an average 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.