Harbor Capital Advisors Inc. Has $1.24 Million Holdings in Weave Communications, Inc. (NYSE:WEAV)

Harbor Capital Advisors Inc. cut its stake in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 25.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,969 shares of the company's stock after selling 37,746 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.15% of Weave Communications worth $1,242,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of WEAV. Principal Financial Group Inc. increased its position in Weave Communications by 33.0% in the 4th quarter. Principal Financial Group Inc. now owns 119,351 shares of the company's stock worth $1,900,000 after purchasing an additional 29,583 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Weave Communications by 6.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 464,330 shares of the company's stock valued at $7,392,000 after buying an additional 29,231 shares in the last quarter. Driehaus Capital Management LLC increased its holdings in Weave Communications by 57.9% in the fourth 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. Geode Capital Management LLC raised its position in Weave Communications by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 894,331 shares of the company's stock valued at $14,242,000 after acquiring an additional 11,124 shares in the last quarter. Finally, Amundi bought a new position in Weave Communications during the fourth quarter valued at approximately $66,000. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

Weave Communications Stock Performance

Shares of NYSE:WEAV traded down $0.56 during trading on Friday, reaching $8.53. The stock had a trading volume of 660,090 shares, compared to its average volume of 767,394. The stock has a fifty day simple moving average of $9.93 and a two-hundred day simple moving average of $12.88. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. Weave Communications, Inc. has a 52 week low of $8.50 and a 52 week high of $17.63. The firm has a market capitalization of $641.60 million, a price-to-earnings ratio of -21.88 and a beta of 1.86.

Weave Communications (NYSE:WEAV - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate 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 return on equity of 28.37% and a negative net margin of 13.87%. As a group, analysts anticipate that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Activity

In other Weave Communications news, insider Branden Neish sold 25,510 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $11.33, for a total value of $289,028.30. Following the completion of the sale, the insider now directly owns 460,908 shares of the company's stock, valued at $5,222,087.64. This represents a 5.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Alan Taylor sold 31,262 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $11.16, for a total transaction of $348,883.92. Following the completion of the sale, the chief financial officer now owns 247,484 shares in the company, valued at $2,761,921.44. This represents a 11.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 320,014 shares of company stock valued at $3,522,274. 18.40% of the stock is owned by insiders.

Analysts Set New Price Targets

WEAV has been the topic of several analyst reports. Stifel Nicolaus dropped their price target on shares of Weave Communications from $20.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Raymond James lowered their target price on shares of Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, April 29th. Finally, Piper Sandler raised their target price on Weave Communications from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $16.10.

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.