Renaissance Technologies LLC Buys 288,700 Shares of Weave Communications, Inc. (NYSE:WEAV)

Renaissance Technologies LLC lifted its position in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) by 45.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 924,500 shares of the company's stock after acquiring an additional 288,700 shares during the period. Renaissance Technologies LLC owned approximately 1.27% of Weave Communications worth $14,718,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. FMR LLC lifted its stake in Weave Communications by 161.9% during the third quarter. FMR LLC now owns 97,991 shares of the company's stock worth $1,254,000 after purchasing an additional 60,574 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Weave Communications by 33.0% during the 4th quarter. Principal Financial Group Inc. now owns 119,351 shares of the company's stock worth $1,900,000 after buying an additional 29,583 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in Weave Communications by 37.7% in the third quarter. Lord Abbett & CO. LLC now owns 873,411 shares of the company's stock valued at $11,180,000 after buying an additional 239,202 shares in the last quarter. JPMorgan Chase & Co. grew its position in Weave Communications by 13.8% in the third quarter. JPMorgan Chase & Co. now owns 144,677 shares of the company's stock valued at $1,852,000 after acquiring an additional 17,530 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Weave Communications by 6.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 464,330 shares of the company's stock worth $7,392,000 after acquiring an additional 29,231 shares in the last quarter. Institutional investors and hedge funds own 86.83% of the company's stock.

Weave Communications Price Performance

WEAV stock traded down $0.08 during midday trading on Friday, reaching $9.31. 415,109 shares of the stock were exchanged, compared to its average volume of 722,684. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59. The stock has a market capitalization of $696.94 million, a PE ratio of -23.86 and a beta of 1.97. Weave Communications, Inc. has a 52 week low of $8.10 and a 52 week high of $17.63. The company has a fifty day moving average price of $11.94 and a 200 day moving average price of $13.81.

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

Analyst Upgrades and Downgrades

Separately, Raymond James restated a "strong-buy" rating and issued a $20.00 price target (up from $17.00) on shares of Weave Communications in a research note on Friday, February 21st.

Insider Buying and Selling at Weave Communications

In related news, COO Marcus Bertilson sold 27,599 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $11.33, for a total value of $312,696.67. Following the sale, the chief operating officer now directly owns 248,502 shares in the company, valued at $2,815,527.66. This represents a 10.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Branden Neish sold 25,510 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $11.33, for a total transaction of $289,028.30. Following the transaction, the insider now owns 460,908 shares of the company's stock, valued at approximately $5,222,087.64. The trade was a 5.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 596,528 shares of company stock worth $8,630,675. Insiders own 36.30% of the company's stock.

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.