Voya Investment Management LLC Grows Stock Position in Weave Communications, Inc. (NYSE:WEAV)

Voya Investment Management LLC grew its position in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 509.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,099,255 shares of the company's stock after acquiring an additional 918,804 shares during the quarter. Voya Investment Management LLC owned 1.51% of Weave Communications worth $17,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Wasatch Advisors LP increased its position in Weave Communications by 38.4% during the fourth quarter. Wasatch Advisors LP now owns 5,205,665 shares of the company's stock valued at $82,874,000 after acquiring an additional 1,444,828 shares during the last quarter. Vanguard Group Inc. raised its position in Weave Communications by 23.5% in the 4th quarter. Vanguard Group Inc. now owns 4,536,462 shares of the company's stock worth $72,220,000 after purchasing an additional 863,547 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Weave Communications by 202.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,650,760 shares of the company's stock worth $26,280,000 after purchasing an additional 1,105,728 shares during the last quarter. Pathway Capital Management LP boosted its position in shares of Weave Communications by 136.3% during the fourth quarter. Pathway Capital Management LP now owns 1,349,365 shares of the company's stock valued at $21,482,000 after buying an additional 778,413 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Weave Communications during the fourth quarter valued at approximately $14,984,000. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on WEAV shares. Raymond James decreased their price target on Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating for the company in a research note on Tuesday. Piper Sandler lowered their target price on shares of Weave Communications from $17.00 to $14.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Stifel Nicolaus reduced their price target on shares of Weave Communications from $20.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $15.90.

Weave Communications Stock Up 0.8 %

NYSE WEAV traded up $0.09 on Friday, reaching $10.77. 551,107 shares of the stock traded hands, compared to its average volume of 720,165. Weave Communications, Inc. has a 12 month low of $8.16 and a 12 month high of $17.63. The company has a market cap of $806.67 million, a price-to-earnings ratio of -27.62 and a beta of 1.97. The company has a fifty day moving average price of $10.74 and a 200-day moving average price of $13.59. 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 (NYSE:WEAV - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.12). The firm had revenue of $54.17 million during the quarter, compared to the consensus estimate of $53.23 million. Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. As a group, research analysts forecast that Weave Communications, Inc. will post -0.33 EPS for the current fiscal year.

Insider Activity

In other Weave Communications news, insider Branden Neish sold 25,510 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $11.33, for a total value of $289,028.30. Following the completion of the transaction, the insider now directly owns 460,908 shares in the company, valued at approximately $5,222,087.64. The trade was a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Marcus Bertilson sold 27,599 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $11.33, for a total transaction of $312,696.67. Following the sale, the chief operating officer now directly owns 248,502 shares of the company's stock, valued at approximately $2,815,527.66. The trade was a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 449,265 shares of company stock worth $5,781,607. Corporate insiders own 18.40% of the company's stock.

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.