Invesco Ltd. Sells 232,769 Shares of Weave Communications, Inc. $WEAV

Invesco Ltd. decreased its holdings in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) by 92.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,708 shares of the company's stock after selling 232,769 shares during the period. Invesco Ltd.'s holdings in Weave Communications were worth $207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of WEAV. Price T Rowe Associates Inc. MD grew its stake in Weave Communications by 27.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,969 shares of the company's stock worth $255,000 after acquiring an additional 3,456 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Weave Communications by 0.8% during the fourth quarter. Northern Trust Corp now owns 364,003 shares of the company's stock worth $5,795,000 after purchasing an additional 2,744 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of Weave Communications during the fourth quarter worth $277,000. BNP Paribas Financial Markets acquired a new stake in Weave Communications during the fourth quarter valued at $2,610,000. Finally, Bank of America Corp DE grew its position in shares of Weave Communications by 60.1% in the fourth quarter. Bank of America Corp DE now owns 313,080 shares of the company's stock valued at $4,984,000 after purchasing an additional 117,525 shares during the period. Institutional investors own 86.83% of the company's stock.

Weave Communications Trading Down 3.7%

Shares of WEAV traded down $0.30 during mid-day trading on Friday, hitting $7.70. The company had a trading volume of 645,760 shares, compared to its average volume of 885,759. The stock has a market cap of $592.79 million, a PE ratio of -19.24 and a beta of 1.75. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.09. Weave Communications, Inc. has a 1-year low of $6.75 and a 1-year high of $17.63. The business's 50-day simple moving average is $7.74 and its 200-day simple moving average is $9.27.

Insider Activity

In related news, CEO Brett T. White sold 53,111 shares of the company's stock in a transaction dated Monday, June 16th. The shares were 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 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Marcus Bertilson sold 11,409 shares of the company's stock in a transaction dated 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 sale, the chief operating officer directly owned 352,093 shares of the company's stock, valued at $3,003,353.29. The trade was a 3.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 86,294 shares of company stock valued at $739,723. 18.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WEAV. Raymond James Financial reduced their price target on shares of Weave Communications from $17.00 to $15.00 and set a "strong-buy" rating on the stock in a research note on Friday, August 1st. Stifel Nicolaus lowered their price target on shares of Weave Communications from $16.00 to $13.00 and set a "buy" rating for the company in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $15.10.

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.