Algert Global LLC Has $2.58 Million Holdings 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 cut its stake in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) by 32.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 232,687 shares of the company's stock after selling 112,508 shares during the period. Algert Global LLC owned 0.31% of Weave Communications worth $2,580,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of WEAV. Voya Investment Management LLC lifted its position in Weave Communications by 509.2% during the fourth quarter. Voya Investment Management LLC now owns 1,099,255 shares of the company's stock worth $17,500,000 after acquiring an additional 918,804 shares during the last quarter. Nuveen LLC acquired a new stake in Weave Communications during the first quarter worth approximately $8,720,000. Voloridge Investment Management LLC acquired a new stake in Weave Communications during the fourth quarter worth approximately $10,186,000. Millennium Management LLC lifted its position in Weave Communications by 176.4% during the fourth quarter. Millennium Management LLC now owns 985,018 shares of the company's stock worth $15,681,000 after acquiring an additional 628,705 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Weave Communications by 474.5% during the first quarter. Bank of New York Mellon Corp now owns 570,810 shares of the company's stock worth $6,330,000 after acquiring an additional 471,446 shares during the last quarter. 86.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on WEAV shares. Raymond James Financial cut their price objective on shares of 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. Stifel Nicolaus dropped their price target on shares of Weave Communications from $16.00 to $13.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Finally, Piper Sandler lifted their price target on shares of Weave Communications from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Weave Communications presently has a consensus rating of "Buy" and an average target price of $15.10.

Weave Communications Price Performance

NYSE:WEAV traded down $0.11 during mid-day trading on Tuesday, reaching $7.51. The stock had a trading volume of 725,273 shares, compared to its average volume of 1,314,335. The stock has a 50-day simple moving average of $7.88 and a two-hundred day simple moving average of $10.02. The stock has a market capitalization of $578.88 million, a PE ratio of -18.79 and a beta of 1.74. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.22 and a quick ratio of 1.22. Weave Communications, Inc. has a 12 month low of $6.75 and a 12 month high of $17.63.

Insider Activity

In related news, insider Erin Goodsell sold 7,472 shares of Weave Communications stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $8.59, for a total value of $64,184.48. Following the transaction, the insider directly owned 584,657 shares of the company's stock, valued at $5,022,203.63. This trade represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Marcus Bertilson sold 11,409 shares of Weave Communications stock in a transaction that occurred on Tuesday, June 17th. The shares were 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 trade represents a 3.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,294 shares of company stock valued at $739,723. 18.40% of the stock is 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.