Weave Communications, Inc. $WEAV Holdings Raised by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its holdings in Weave Communications by 4.3% in the 1st quarter, owning approximately 6.32% of the company valued at $52.5 million.
• Weave Communications' stock has experienced a 1.6% decrease, with current trading around $7.64, significantly below its 1-year high of $17.63.
• Analysts have mixed opinions on Weave Communications, with price targets ranging from $13.00 to $15.10 and an average rating of "Buy."

Vanguard Group Inc. increased its stake in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) by 4.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,731,398 shares of the company's stock after buying an additional 194,936 shares during the quarter. Vanguard Group Inc. owned about 6.32% of Weave Communications worth $52,471,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers grew its stake in Weave Communications by 9.1% during the 1st quarter. Rhumbline Advisers now owns 55,109 shares of the company's stock worth $611,000 after buying an additional 4,594 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in Weave Communications during the 1st quarter worth $186,000. Driehaus Capital Management LLC grew its stake in Weave Communications by 57.9% during the 4th quarter. Driehaus Capital Management LLC now owns 855,502 shares of the company's stock worth $13,620,000 after buying an additional 313,618 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Weave Communications by 20.2% in the first quarter. Arizona State Retirement System now owns 12,524 shares of the company's stock worth $139,000 after purchasing an additional 2,103 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its stake in shares of Weave Communications by 31.7% in the first quarter. Teacher Retirement System of Texas now owns 52,172 shares of the company's stock worth $579,000 after purchasing an additional 12,566 shares in the last quarter. 86.83% of the stock is currently owned by institutional investors.

Insider Transactions at Weave Communications

In related news, CEO Brett T. White sold 53,111 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $8.59, for a total transaction of $456,223.49. Following the completion of the transaction, the chief executive officer owned 2,004,136 shares of the company's stock, valued at $17,215,528.24. This trade represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Marcus Bertilson sold 11,409 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $8.53, for a total value of $97,318.77. Following the transaction, the chief operating officer directly owned 352,093 shares of the company's stock, valued at $3,003,353.29. This represents a 3.14% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,294 shares of company stock worth $739,723. Corporate insiders own 18.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WEAV. Stifel Nicolaus decreased their price target 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. Raymond James Financial decreased their price target 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. Finally, Piper Sandler increased their price target on Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Weave Communications presently has an average rating of "Buy" and a consensus price target of $15.10.

Weave Communications Price Performance

WEAV stock traded up $0.09 during trading hours on Friday, hitting $7.78. 606,771 shares of the stock traded hands, compared to its average volume of 1,189,090. The stock has a 50-day simple moving average of $7.85 and a 200 day simple moving average of $9.77. Weave Communications, Inc. has a one year low of $6.75 and a one year high of $17.63. The company has a market cap of $598.99 million, a P/E ratio of -19.44 and a beta of 1.75. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.09.

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.