Principal Financial Group Inc. Purchases 52,210 Shares of Weave Communications, Inc. (NYSE:WEAV)

Principal Financial Group Inc. grew its position in Weave Communications, Inc. (NYSE:WEAV) by 139.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,768 shares of the company’s stock after purchasing an additional 52,210 shares during the quarter. Principal Financial Group Inc. owned approximately 0.13% of Weave Communications worth $1,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Point72 Asset Management L.P. lifted its stake in shares of Weave Communications by 5.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 17,496 shares of the company’s stock valued at $158,000 after buying an additional 896 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Weave Communications by 6.6% in the first quarter. California State Teachers Retirement System now owns 34,685 shares of the company’s stock valued at $398,000 after acquiring an additional 2,152 shares in the last quarter. ClariVest Asset Management LLC boosted its stake in shares of Weave Communications by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 82,194 shares of the company’s stock worth $741,000 after acquiring an additional 2,298 shares during the period. AQR Capital Management LLC boosted its stake in shares of Weave Communications by 3.8% in the second quarter. AQR Capital Management LLC now owns 68,687 shares of the company’s stock worth $620,000 after acquiring an additional 2,516 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Weave Communications by 48.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company’s stock worth $90,000 after purchasing an additional 3,228 shares in the last quarter. 86.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WEAV. Piper Sandler boosted their price target on Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Loop Capital boosted their target price on shares of Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group raised their target price on shares of Weave Communications from $13.00 to $14.50 and gave the company a “neutral” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $16.50.

Weave Communications Stock Performance

NYSE:WEAV opened at $13.91 on Friday. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -34.78 and a beta of 2.08. Weave Communications, Inc. has a 1 year low of $8.10 and a 1 year high of $14.50. The stock’s 50 day simple moving average is $13.05 and its two-hundred day simple moving average is $10.85. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59.

Insider Activity at Weave Communications

In other news, COO Marcus Bertilson sold 15,000 shares of Weave Communications stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $10.67, for a total value of $160,050.00. Following the completion of the transaction, the chief operating officer now owns 337,682 shares in the company, valued at approximately $3,603,066.94. The trade was a 4.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Blake G. Modersitzki sold 37,760 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $14.20, for a total value of $536,192.00. Following the transaction, the director now directly owns 282,568 shares in the company, valued at approximately $4,012,465.60. This represents a 11.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,957 shares of company stock valued at $6,531,864 over the last 90 days. 36.30% of the stock is owned by corporate insiders.

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.