Vanguard Group Inc. Boosts Stock Position in Weave Communications, Inc. (NYSE:WEAV)

Vanguard Group Inc. lifted its position in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) by 37.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,942,793 shares of the company's stock after buying an additional 808,248 shares during the quarter. Vanguard Group Inc. owned approximately 4.24% of Weave Communications worth $23,984,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised its stake in Weave Communications by 557.8% in the third quarter. BlackRock Inc. now owns 1,601,556 shares of the company's stock valued at $8,088,000 after buying an additional 1,358,074 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Weave Communications by 896.6% in the third quarter. Bank of New York Mellon Corp now owns 937,604 shares of the company's stock worth $7,641,000 after purchasing an additional 843,526 shares during the last quarter. Morgan Stanley raised its stake in shares of Weave Communications by 41.6% in the third quarter. Morgan Stanley now owns 2,111,526 shares of the company's stock worth $17,209,000 after purchasing an additional 620,591 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Weave Communications by 142.9% in the third quarter. Lord Abbett & CO. LLC now owns 1,042,961 shares of the company's stock worth $8,500,000 after purchasing an additional 613,649 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Weave Communications by 3,252.8% in the second quarter. Millennium Management LLC now owns 365,552 shares of the company's stock worth $1,111,000 after purchasing an additional 354,649 shares during the last quarter. Institutional investors own 86.83% of the company's stock.

Insider Transactions at Weave Communications

In other news, CFO Alan Taylor sold 15,000 shares of Weave Communications stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $12.00, for a total value of $180,000.00. Following the sale, the chief financial officer now directly owns 480,813 shares of the company's stock, valued at $5,769,756. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 41.00% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on WEAV shares. Stifel Nicolaus raised their price objective on Weave Communications from $15.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, February 22nd. Piper Sandler reaffirmed an "overweight" rating and set a $15.00 target price on shares of Weave Communications in a report on Thursday, February 22nd. Finally, Raymond James raised Weave Communications from an "outperform" rating to a "strong-buy" rating and set a $15.00 target price on the stock in a report on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Weave Communications currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.00.

Weave Communications Price Performance

Shares of NYSE:WEAV traded down $0.41 during trading on Friday, reaching $11.58. The stock had a trading volume of 174,645 shares, compared to its average volume of 271,917. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.78 and a current ratio of 1.78. The business has a fifty day moving average price of $12.05 and a 200-day moving average price of $10.51. The stock has a market cap of $821.95 million, a PE ratio of -25.73 and a beta of 2.24. Weave Communications, Inc. has a 1-year low of $4.04 and a 1-year high of $13.80.

Weave Communications (NYSE:WEAV - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.01. The firm had revenue of $45.69 million for the quarter, compared to analyst estimates of $44.24 million. Weave Communications had a negative return on equity of 31.93% and a negative net margin of 18.20%. On average, equities analysts forecast that Weave Communications, Inc. will post -0.37 earnings per share for the current fiscal year.

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.