Y Intercept Hong Kong Ltd Raises Holdings in Weave Communications, Inc. (NYSE:WEAV)

Key Points

• Y Intercept Hong Kong Ltd increased its stake in Weave Communications by 150.3%, acquiring 41,231 shares, bringing its total holdings to 68,659 shares, valued at approximately $761,000.
• Several hedge funds, including Mitsubishi UFJ Asset Management and MetLife Investment Management, also raised their positions in Weave Communications during the fourth quarter, indicating strong institutional interest.
• Weave Communications' stock price recently decreased by 2.2%, closing at $7.73, while analysts project an average target price of $16.10, reflecting a generally positive outlook despite recent earnings misses.

Y Intercept Hong Kong Ltd lifted its stake in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 150.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,659 shares of the company's stock after purchasing an additional 41,231 shares during the period. Y Intercept Hong Kong Ltd owned about 0.09% of Weave Communications worth $761,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Weave Communications by 5.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,903 shares of the company's stock worth $174,000 after buying an additional 597 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Weave Communications by 2.6% during the 4th quarter. MetLife Investment Management LLC now owns 24,387 shares of the company's stock worth $388,000 after buying an additional 620 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Weave Communications by 28.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company's stock worth $66,000 after purchasing an additional 928 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Weave Communications by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,461 shares of the company's stock worth $358,000 after purchasing an additional 988 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Weave Communications by 7.1% during the fourth quarter. Russell Investments Group Ltd. now owns 25,031 shares of the company's stock worth $398,000 after purchasing an additional 1,658 shares during the last quarter. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

Weave Communications Stock Performance

Shares of WEAV traded down $0.08 during mid-day trading on Wednesday, hitting $7.54. 834,663 shares of the company's stock were exchanged, compared to its average volume of 836,644. Weave Communications, Inc. has a fifty-two week low of $7.25 and a fifty-two week high of $17.63. The firm has a market capitalization of $566.86 million, a P/E ratio of -18.39 and a beta of 1.76. The business's 50 day moving average is $8.64 and its two-hundred day moving average is $11.22. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.10.

Weave Communications (NYSE:WEAV - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.12). The firm had revenue of $55.81 million during the quarter, compared to analyst estimates of $54.72 million. Weave Communications had a negative net margin of 14.07% and a negative return on equity of 31.08%. On average, equities analysts expect that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Raymond James Financial dropped their price objective on Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating on the stock in a report on Tuesday, April 29th. Stifel Nicolaus dropped their price objective on Weave Communications from $20.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Piper Sandler raised their price objective on Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $16.10.

Insider Activity

In other news, CEO Brett T. White sold 53,111 shares of the firm's 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 completion of the sale, the chief executive officer directly owned 2,004,136 shares of the company's stock, valued at $17,215,528.24. This trade represents a 2.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Joseph David Mcneil sold 14,302 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $8.53, for a total value of $121,996.06. Following the completion of the sale, the executive directly owned 409,060 shares of the company's stock, valued at $3,489,281.80. This represents a 3.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,294 shares of company stock worth $739,723 in the last 90 days. Corporate 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.