Weave Communications, Inc. $WEAV Shares Bought by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Weave Communications by 34.8%, owning approximately 0.71% of the company, valued at almost $6 million.
• Analyst ratings for Weave Communications show mixed sentiments, with a target price adjusted down from $16.00 to $13.00 by Stifel Nicolaus, while Raymond James set a target of $15.00, maintaining a "strong-buy" rating.
• Weave Communications has high institutional ownership at around 86.83%, indicating strong interest from hedge funds and institutional investors.

Jacobs Levy Equity Management Inc. raised its holdings in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 34.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 537,355 shares of the company's stock after purchasing an additional 138,729 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.71% of Weave Communications worth $5,959,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in WEAV. Summit Securities Group LLC acquired a new position in shares of Weave Communications in the 1st quarter valued at approximately $29,000. a16z Perennial Management L.P. acquired a new position in shares of Weave Communications in the 1st quarter valued at approximately $36,000. Amundi raised its position in shares of Weave Communications by 27.1% in the 1st quarter. Amundi now owns 5,301 shares of the company's stock valued at $59,000 after purchasing an additional 1,130 shares in the last quarter. Values First Advisors Inc. acquired a new position in shares of Weave Communications in the 1st quarter valued at approximately $128,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Weave Communications by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,120 shares of the company's stock valued at $134,000 after purchasing an additional 1,217 shares in the last quarter. 86.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WEAV has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their target price 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. Raymond James Financial dropped 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. 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 company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $15.10.

Weave Communications Stock Performance

WEAV stock opened at $7.90 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.09. The firm has a market cap of $608.69 million, a P/E ratio of -19.75 and a beta of 1.75. Weave Communications, Inc. has a 12-month low of $6.75 and a 12-month high of $17.63. The stock's 50 day simple moving average is $7.79 and its 200 day simple moving average is $9.39.

Insider Transactions at Weave Communications

In related news, COO Marcus Bertilson sold 11,409 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 transaction of $97,318.77. Following the completion of the transaction, the chief operating officer directly owned 352,093 shares in the company, valued at $3,003,353.29. This represents a 3.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brett T. White sold 53,111 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 $456,223.49. Following the transaction, the chief executive officer owned 2,004,136 shares of the company's stock, valued at approximately $17,215,528.24. The trade was a 2.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,294 shares of company stock valued at $739,723. 18.40% of the stock is currently owned by 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.

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