SG Americas Securities LLC Acquires 7,352 Shares of Weave Communications, Inc. (NYSE:WEAV)

SG Americas Securities LLC boosted its holdings in Weave Communications, Inc. (NYSE:WEAV) by 68.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 18,104 shares of the company’s stock after purchasing an additional 7,352 shares during the period. SG Americas Securities LLC’s holdings in Weave Communications were worth $208,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Weave Communications by 37.9% in the third quarter. Vanguard Group Inc. now owns 2,942,793 shares of the company’s stock worth $23,984,000 after purchasing an additional 808,248 shares during the last quarter. Wasatch Advisors LP raised its stake in shares of Weave Communications by 11.6% during the first quarter. Wasatch Advisors LP now owns 2,878,902 shares of the company’s stock valued at $14,308,000 after acquiring an additional 298,155 shares during the last quarter. Morgan Stanley raised its stake in shares of Weave Communications by 41.6% during the third quarter. Morgan Stanley now owns 2,111,526 shares of the company’s stock valued at $17,209,000 after acquiring an additional 620,591 shares during the last quarter. BlackRock Inc. raised its stake in shares of Weave Communications by 15.5% during the second quarter. BlackRock Inc. now owns 2,017,014 shares of the company’s stock valued at $22,409,000 after acquiring an additional 271,387 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its stake in shares of Weave Communications by 142.9% during the third quarter. Lord Abbett & CO. LLC now owns 1,042,961 shares of the company’s stock valued at $8,500,000 after acquiring an additional 613,649 shares during the last quarter. 86.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on WEAV. Stifel Nicolaus upped their price objective on shares of Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Raymond James raised shares of Weave Communications from an “outperform” rating to a “strong-buy” rating and set a $15.00 price objective for the company in a research note on Monday, February 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $15.00 price objective on shares of Weave Communications in a research note on Thursday, February 22nd. Two investment 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 stock. According to data from MarketBeat, Weave Communications has an average rating of “Moderate Buy” and an average target price of $14.00.

Weave Communications Price Performance

WEAV stock opened at $11.59 on Friday. Weave Communications, Inc. has a 1 year low of $4.04 and a 1 year high of $13.80. The company has a market cap of $822.30 million, a P/E ratio of -25.74 and a beta of 2.24. The firm has a 50-day moving average of $12.05 and a 200 day moving average of $10.47. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.78 and a quick ratio of 1.78.

Weave Communications (NYSE:WEAV) last released 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 company had revenue of $45.69 million during the quarter, compared to the consensus estimate of $44.24 million. Weave Communications had a negative net margin of 18.20% and a negative return on equity of 31.93%. On average, sell-side analysts forecast that Weave Communications, Inc. will post -0.37 EPS for the current year.

Insiders Place Their Bets

In other Weave Communications news, CFO Alan Taylor sold 15,000 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $12.00, for a total value of $180,000.00. Following the sale, the chief financial officer now owns 480,813 shares in the company, valued at $5,769,756. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 41.00% 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.