CenterBook Partners LP Has $2.24 Million Stock Position in Weave Communications, Inc. (NYSE:WEAV)

Key Points

• CenterBook Partners LP increased its stake in Weave Communications by 426.5%, owning approximately 201,587 shares valued at $2,236,000.
• Insider sales included CRO Joseph David Mcneil and COO Marcus Bertilson, who sold a total of 25,711 shares, reflecting a decrease in their ownership.
• Analysts have a consensus rating of “Buy” for Weave Communications, with a target price range between $13.00 and $15.10.

CenterBook Partners LP lifted its stake in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 426.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 201,587 shares of the company's stock after buying an additional 163,298 shares during the period. CenterBook Partners LP owned about 0.27% of Weave Communications worth $2,236,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in WEAV. Wasatch Advisors LP grew its stake in shares of Weave Communications by 38.4% in the 4th quarter. Wasatch Advisors LP now owns 5,205,665 shares of the company's stock valued at $82,874,000 after purchasing an additional 1,444,828 shares during the period. Vanguard Group Inc. grew its stake in shares of Weave Communications by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 4,731,398 shares of the company's stock valued at $52,471,000 after purchasing an additional 194,936 shares during the period. AXA S.A. grew its stake in shares of Weave Communications by 0.7% in the 4th quarter. AXA S.A. now owns 1,294,281 shares of the company's stock valued at $20,605,000 after purchasing an additional 9,365 shares during the period. Lord Abbett & CO. LLC grew its stake in shares of Weave Communications by 26.0% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,100,179 shares of the company's stock valued at $17,515,000 after purchasing an additional 226,768 shares during the period. Finally, Voya Investment Management LLC grew its stake in shares of Weave Communications by 509.2% in the 4th quarter. Voya Investment Management LLC now owns 1,099,255 shares of the company's stock valued at $17,500,000 after purchasing an additional 918,804 shares during the period. Institutional investors own 86.83% of the company's stock.

Weave Communications Trading Down 2.3%

WEAV traded down $0.18 during mid-day trading on Friday, reaching $7.57. The stock had a trading volume of 1,734,887 shares, compared to its average volume of 1,014,902. The stock has a market capitalization of $569.11 million, a P/E ratio of -18.93 and a beta of 1.74. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.60 and a current ratio of 1.60. The firm's fifty day simple moving average is $8.27 and its two-hundred day simple moving average is $10.79. Weave Communications, Inc. has a 52 week low of $6.75 and a 52 week high of $17.63.

Weave Communications (NYSE:WEAV - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.12). The firm had revenue of $55.81 million during the quarter, compared to the consensus estimate of $54.72 million. Weave Communications had a negative net margin of 13.64% and a negative return on equity of 42.20%. On average, equities analysts predict that Weave Communications, Inc. will post -0.33 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Raymond James Financial decreased their price target on Weave Communications from $17.00 to $15.00 and set a "strong-buy" rating on the stock in a research report on Friday, August 1st. 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 report on Tuesday, May 6th. Finally, Stifel Nicolaus decreased their price target on Weave Communications from $16.00 to $13.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $15.10.

Insider Transactions at Weave Communications

In other Weave Communications news, CRO Joseph David Mcneil sold 14,302 shares of the 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 transaction, the executive directly owned 409,060 shares in the company, valued at approximately $3,489,281.80. This trade represents a 3.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Marcus Bertilson sold 11,409 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $8.53, for a total value of $97,318.77. Following the completion of the transaction, the chief operating officer owned 352,093 shares in the company, valued at $3,003,353.29. The trade was a 3.14% 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 currently owned by corporate insiders.

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.