PDT Partners LLC Raises Stock Holdings in Weave Communications, Inc. $WEAV

Key Points

• PDT Partners LLC has increased its ownership in Weave Communications by 138.6%, purchasing an additional 35,463 shares, bringing its total shares to 61,051, valued at approximately $677,000.
• CEO Brett T. White sold 53,111 shares of Weave Communications stock, valued at over $456,000, resulting in a 2.58% decrease in his position.
• Weave Communications has a current market capitalization of $587.43 million and has received mixed ratings from analysts, with price targets ranging from $13.00 to $15.00.

PDT Partners LLC increased its stake in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) by 138.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 61,051 shares of the company's stock after purchasing an additional 35,463 shares during the quarter. PDT Partners LLC owned 0.08% of Weave Communications worth $677,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Rhumbline Advisers increased its position in shares of Weave Communications by 9.1% during the 1st quarter. Rhumbline Advisers now owns 55,109 shares of the company's stock valued at $611,000 after purchasing an additional 4,594 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Weave Communications during the 1st quarter valued at approximately $186,000. Driehaus Capital Management LLC increased its position in shares of 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 last quarter. Arizona State Retirement System increased its position in shares of Weave Communications by 20.2% during the 1st quarter. Arizona State Retirement System now owns 12,524 shares of the company's stock valued at $139,000 after purchasing an additional 2,103 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Weave Communications by 31.7% during the 1st quarter. Teacher Retirement System of Texas now owns 52,172 shares of the company's stock valued at $579,000 after purchasing an additional 12,566 shares during the last quarter. Institutional investors own 86.83% of the company's stock.

Weave Communications Stock Up 1.9%

Shares of WEAV stock traded up $0.14 during mid-day trading on Friday, hitting $7.72. The stock had a trading volume of 979,279 shares, compared to its average volume of 1,048,240. Weave Communications, Inc. has a 12-month low of $6.75 and a 12-month high of $17.63. The firm has a market capitalization of $594.87 million, a P/E ratio of -19.31 and a beta of 1.75. The firm's 50-day moving average is $7.80 and its two-hundred day moving average is $9.49. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.22 and a quick ratio of 1.22.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WEAV shares. Stifel Nicolaus dropped their price objective on Weave Communications from $16.00 to $13.00 and set a "buy" rating for the company in a report 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 report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $15.10.

Insider Transactions at Weave Communications

In other Weave Communications news, insider Erin Goodsell sold 7,472 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $8.59, for a total value of $64,184.48. Following the completion of the sale, the insider directly owned 584,657 shares in the company, valued at approximately $5,022,203.63. This represents a 1.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Joseph David Mcneil sold 14,302 shares of the company's stock in a transaction 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 completion of the sale, the executive owned 409,060 shares of the company's stock, valued at $3,489,281.80. This represents a 3.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,294 shares of company stock valued at $739,723 over the last 90 days. 18.40% of the stock is owned by corporate insiders.

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.