Osterweis Capital Management Inc. Sells 299,630 Shares of Weave Communications, Inc. $WEAV

Key Points

• Osterweis Capital Management Inc. has significantly reduced its stake in Weave Communications by 46.4% during the first quarter, now holding approximately $3.83 million worth of shares.
• Several institutional investors, including Nuveen LLC and Millennium Management LLC, have recently increased their positions in Weave Communications, highlighting growing interest from institutional investors.
• The stock currently has a consensus rating of "Buy" with a target price of $15.10, despite recent downgrades from firms like Stifel Nicolaus and Raymond James Financial.

Osterweis Capital Management Inc. trimmed its position in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) by 46.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC bought a new stake in shares of Weave Communications during the 1st quarter valued at $8,720,000. Voloridge Investment Management LLC purchased a new position in Weave Communications during the fourth quarter valued at $10,186,000. Millennium Management LLC grew its holdings in Weave Communications by 176.4% during the fourth quarter. Millennium Management LLC now owns 985,018 shares of the company's stock valued at $15,681,000 after purchasing an additional 628,705 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Weave Communications by 474.5% in the first quarter. Bank of New York Mellon Corp now owns 570,810 shares of the company's stock worth $6,330,000 after buying an additional 471,446 shares during the period. Finally, Two Sigma Investments LP raised its stake in Weave Communications by 113.6% during the 4th quarter. Two Sigma Investments LP now owns 654,428 shares of the company's stock worth $10,418,000 after acquiring an additional 348,038 shares during the period. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

Weave Communications Trading Up 2.3%

WEAV stock traded up $0.18 during midday trading on Wednesday, reaching $7.84. 269,941 shares of the company traded hands, compared to its average volume of 938,833. The firm has a market capitalization of $603.61 million, a price-to-earnings ratio of -19.59 and a beta of 1.75. Weave Communications, Inc. has a 52-week low of $6.75 and a 52-week high of $17.63. The business has a 50 day moving average of $7.70 and a 200-day moving average of $9.20. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.22 and a current ratio of 1.22.

Analysts Set New Price Targets

WEAV has been the topic of a number of analyst reports. Stifel Nicolaus lowered their target price on shares of Weave Communications from $16.00 to $13.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Raymond James Financial dropped their price objective 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 given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $15.10.

Weave Communications Company 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.