Osterweis Capital Management Inc. Has $3.83 Million Stock Position in 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. lowered its stake in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 46.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 345,610 shares of the company's stock after selling 299,630 shares during the quarter. Osterweis Capital Management Inc. owned about 0.46% of Weave Communications worth $3,833,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of WEAV. Nuveen LLC acquired a new position in shares of Weave Communications during the 1st quarter worth about $8,720,000. Voloridge Investment Management LLC acquired a new position in shares of Weave Communications during the 4th quarter worth about $10,186,000. Millennium Management LLC grew its position in shares of Weave Communications by 176.4% during the 4th quarter. Millennium Management LLC now owns 985,018 shares of the company's stock worth $15,681,000 after buying an additional 628,705 shares during the period. Bank of New York Mellon Corp grew its position in shares of Weave Communications by 474.5% during the 1st 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 grew its position in shares of 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 buying an additional 348,038 shares during the period. 86.83% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CRO Joseph David Mcneil sold 14,302 shares of Weave Communications stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $8.53, for a total transaction of $121,996.06. Following the transaction, the executive owned 409,060 shares in the company, valued at $3,489,281.80. The trade was a 3.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brett T. White sold 53,111 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $8.59, for a total value of $456,223.49. Following the transaction, the chief executive officer directly owned 2,004,136 shares of the company's stock, valued at approximately $17,215,528.24. This trade represents a 2.58% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,294 shares of company stock worth $739,723. Company insiders own 18.40% of the company's stock.

Weave Communications Trading Up 5.4%

NYSE:WEAV opened at $7.99 on Friday. Weave Communications, Inc. has a fifty-two week low of $6.75 and a fifty-two week high of $17.63. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market capitalization of $615.55 million, a PE ratio of -19.98 and a beta of 1.75. The business's 50-day simple moving average is $7.76 and its 200-day simple moving average is $9.33.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WEAV. Stifel Nicolaus decreased their target price on Weave Communications from $16.00 to $13.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Raymond James Financial decreased their target price on Weave Communications from $17.00 to $15.00 and set a "strong-buy" rating for the company in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $15.10.

About Weave Communications

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.

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