Jacobs Levy Equity Management Inc. Has $5.96 Million Stock Position in Weave Communications, Inc. $WEAV

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

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Weave Communications by 4.3% during 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 in the last quarter. Millennium Management LLC grew its stake in Weave Communications by 176.4% during the 4th quarter. Millennium Management LLC now owns 985,018 shares of the company's stock valued at $15,681,000 after purchasing an additional 628,705 shares in the last quarter. Raymond James Financial Inc. grew its stake in Weave Communications by 3.2% during the 1st quarter. Raymond James Financial Inc. now owns 971,522 shares of the company's stock valued at $10,774,000 after purchasing an additional 30,312 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Weave Communications by 41.3% during the 4th quarter. Nuveen Asset Management LLC now owns 824,581 shares of the company's stock valued at $13,127,000 after purchasing an additional 240,882 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Weave Communications during the 1st quarter valued at approximately $8,720,000. Institutional investors and hedge funds own 86.83% of the company's stock.

Weave Communications Stock Performance

Weave Communications stock traded down $0.30 during mid-day trading on Friday, hitting $7.70. 645,760 shares of the company's stock traded hands, compared to its average volume of 885,759. The firm has a 50 day moving average price of $7.74 and a 200 day moving average price of $9.27. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.09. The company has a market cap of $592.79 million, a PE ratio of -19.24 and a beta of 1.75. Weave Communications, Inc. has a one year low of $6.75 and a one year high of $17.63.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Weave Communications news, insider Erin Goodsell sold 7,472 shares of Weave Communications stock in a transaction on Monday, June 16th. The stock was sold at an average price of $8.59, for a total transaction of $64,184.48. Following the sale, the insider owned 584,657 shares of the company's stock, valued at $5,022,203.63. The trade was a 1.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brett T. White sold 53,111 shares of the business'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 completion of the sale, the chief executive officer directly owned 2,004,136 shares in the company, valued at $17,215,528.24. This represents a 2.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,294 shares of company stock worth $739,723 over the last 90 days. Insiders own 18.40% of the company's stock.

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.