941,210 Shares in Weave Communications, Inc. (NYSE:WEAV) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in Weave Communications, Inc. (NYSE:WEAV - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 941,210 shares of the company's stock, valued at approximately $14,984,000. Raymond James Financial Inc. owned about 1.29% of Weave Communications as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Principal Financial Group Inc. grew its position in Weave Communications by 33.0% in the fourth quarter. Principal Financial Group Inc. now owns 119,351 shares of the company's stock worth $1,900,000 after acquiring an additional 29,583 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of Weave Communications by 37.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 873,411 shares of the company's stock worth $11,180,000 after purchasing an additional 239,202 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Weave Communications by 13.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 144,677 shares of the company's stock valued at $1,852,000 after purchasing an additional 17,530 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Weave Communications by 6.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 464,330 shares of the company's stock valued at $7,392,000 after buying an additional 29,231 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Weave Communications by 13.0% in the 3rd quarter. Geode Capital Management LLC now owns 883,207 shares of the company's stock worth $11,308,000 after buying an additional 101,580 shares during the last quarter. Hedge funds and other institutional investors own 86.83% of the company's stock.

Insider Activity

In related news, CEO Brett T. White sold 54,778 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $15.86, for a total value of $868,779.08. Following the completion of the transaction, the chief executive officer now directly owns 1,928,364 shares in the company, valued at $30,583,853.04. This trade represents a 2.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Blake G. Modersitzki sold 103,620 shares of Weave Communications stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $16.53, for a total transaction of $1,712,838.60. Following the transaction, the director now directly owns 188,792 shares of the company's stock, valued at approximately $3,120,731.76. This trade represents a 35.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 595,028 shares of company stock valued at $8,606,000. Corporate insiders own 18.40% of the company's stock.

Weave Communications Trading Up 4.4 %

Shares of Weave Communications stock traded up $0.44 during trading on Friday, reaching $10.43. 546,181 shares of the stock were exchanged, compared to its average volume of 727,033. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The firm has a market cap of $781.21 million, a price-to-earnings ratio of -26.74 and a beta of 1.97. Weave Communications, Inc. has a 1 year low of $8.10 and a 1 year high of $17.63. The stock's fifty day moving average is $11.17 and its 200 day moving average is $13.68.

Weave Communications (NYSE:WEAV - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.12). Weave Communications had a negative return on equity of 28.37% and a negative net margin of 13.87%. The business had revenue of $54.17 million during the quarter, compared to the consensus estimate of $53.23 million. As a group, equities research analysts expect that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WEAV has been the topic of several research reports. Piper Sandler decreased their price target on shares of Weave Communications from $17.00 to $14.00 and set an "overweight" rating on the stock in a research note on Wednesday. Raymond James reiterated a "strong-buy" rating and issued a $20.00 target price (up previously from $17.00) on shares of Weave Communications in a research report on Friday, February 21st. Finally, Stifel Nicolaus cut their price target on shares of Weave Communications from $20.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Weave Communications presently has an average rating of "Buy" and an average price target of $16.50.

About Weave Communications

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.