Algert Global LLC Has $2.58 Million Position in Weave Communications, Inc. $WEAV

Key Points

• Algert Global LLC has decreased its holdings in Weave Communications, Inc. by 32.6%, selling 112,508 shares and now owning approximately 0.31% of the company, valued at $2.58 million.
• Several large investors have significantly increased their positions in Weave, with Voya Investment Management boosting its holdings by 509.2% and Millennium Management growing its stake by 176.4% in the last quarter.
• Wall Street analysts have mixed opinions on Weave's stock, with target prices ranging from $13.00 to $15.00 and a consensus rating of "Buy" with a target price of $15.10.

Algert Global LLC trimmed its stake in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 32.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 232,687 shares of the company's stock after selling 112,508 shares during the quarter. Algert Global LLC owned approximately 0.31% of Weave Communications worth $2,580,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of WEAV. Aquatic Capital Management LLC bought a new position in Weave Communications in the fourth quarter valued at approximately $34,000. a16z Perennial Management L.P. bought a new position in Weave Communications in the first quarter valued at approximately $36,000. Summit Investment Advisors Inc. grew its stake in Weave Communications by 28.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company's stock valued at $66,000 after purchasing an additional 928 shares in the last quarter. Values First Advisors Inc. bought a new position in Weave Communications in the first quarter valued at approximately $128,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Weave Communications by 11.2% in the first 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 currently owned by institutional investors.

Analysts Set New Price Targets

WEAV has been the subject of a number of analyst reports. 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. Piper Sandler raised their price target on Weave Communications from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Finally, 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. One 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. According to data from MarketBeat, Weave Communications currently has an average rating of "Buy" and an average target price of $15.10.

Weave Communications Stock Up 1.6%

Shares of NYSE WEAV traded up $0.1210 during midday trading on Friday, hitting $7.7510. 1,738,303 shares of the company's stock were exchanged, compared to its average volume of 1,236,858. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.22 and a current ratio of 1.22. Weave Communications, Inc. has a 12 month low of $6.75 and a 12 month high of $17.63. The company's 50 day moving average price is $7.92 and its 200 day moving average price is $10.15.

Insiders Place Their Bets

In other news, CRO Joseph David Mcneil sold 14,302 shares of Weave Communications stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $8.53, for a total transaction of $121,996.06. Following the completion of the transaction, the executive directly owned 409,060 shares in the company, valued at approximately $3,489,281.80. The trade was a 3.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brett T. White sold 53,111 shares of Weave Communications stock in a transaction that occurred 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 $17,215,528.24. This represents a 2.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,294 shares of company stock valued at $739,723. 18.40% of the stock is owned by insiders.

About Weave Communications

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.