Liberty Mutual Group Asset Management Inc. Takes $2.99 Million Position in Weave Communications, Inc. (NYSE:WEAV)

Liberty Mutual Group Asset Management Inc. acquired a new stake in Weave Communications, Inc. (NYSE:WEAV - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 188,001 shares of the company's stock, valued at approximately $2,993,000. Weave Communications accounts for 0.7% of Liberty Mutual Group Asset Management Inc.'s portfolio, making the stock its 8th largest holding. Liberty Mutual Group Asset Management Inc. owned 0.26% of Weave Communications as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aquatic Capital Management LLC purchased a new position in shares of Weave Communications during the fourth quarter worth about $34,000. Amundi purchased a new position in shares of Weave Communications during the fourth quarter worth about $66,000. 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 in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Weave Communications during the fourth quarter worth about $131,000. Finally, US Bancorp DE grew its holdings in shares of Weave Communications by 8.4% during the fourth quarter. US Bancorp DE now owns 9,053 shares of the company's stock worth $144,000 after purchasing an additional 703 shares in the last quarter. 86.83% of the stock is currently owned by institutional investors.

Weave Communications Price Performance

WEAV traded down $0.05 during midday trading on Friday, hitting $10.77. The stock had a trading volume of 829,216 shares, compared to its average volume of 733,813. The company has a market cap of $810.01 million, a P/E ratio of -27.63 and a beta of 1.97. The business has a fifty day moving average of $10.47 and a 200 day moving average of $13.40. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59. Weave Communications, Inc. has a 1 year low of $8.18 and a 1 year high of $17.63.

Weave Communications (NYSE:WEAV - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.12). The company had revenue of $55.81 million for the quarter, compared to analysts' expectations of $54.72 million. Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. As a group, equities analysts forecast that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Raymond James cut their target price on Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating for the company in a research note on Tuesday, April 29th. Stifel Nicolaus cut their target price on Weave Communications from $20.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Piper Sandler upped their target price on Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. One investment 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 MarketBeat, Weave Communications currently has an average rating of "Buy" and an average price target of $16.10.

Insider Buying and Selling

In other Weave Communications news, CFO Alan Taylor sold 31,262 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $11.16, for a total value of $348,883.92. Following the completion of the transaction, the chief financial officer now owns 247,484 shares in the company, valued at approximately $2,761,921.44. This represents a 11.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Blake G. Modersitzki sold 74,756 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $17.49, for a total value of $1,307,482.44. Following the completion of the transaction, the director now owns 179,153 shares of the company's stock, valued at approximately $3,133,385.97. This trade represents a 29.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 394,770 shares of company stock valued at $4,829,756 over the last quarter. 18.40% of the stock is owned by company insiders.

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.