Weave Communications, Inc. (NYSE:WEAV) Stock Position Lifted by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its position in Weave Communications, Inc. (NYSE:WEAV) by 47.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,157 shares of the company’s stock after acquiring an additional 6,456 shares during the quarter. Wells Fargo & Company MN’s holdings in Weave Communications were worth $321,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Amundi bought a new stake in Weave Communications during the fourth quarter valued at $66,000. KLP Kapitalforvaltning AS acquired a new position in shares of Weave Communications in the 4th quarter valued at about $131,000. US Bancorp DE grew its position in shares of Weave Communications by 8.4% during the 4th quarter. US Bancorp DE now owns 9,053 shares of the company’s stock valued at $144,000 after buying an additional 703 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Weave Communications during the fourth quarter worth about $162,000. Finally, AXQ Capital LP bought a new position in Weave Communications in the fourth quarter worth about $168,000. 86.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on WEAV. Stifel Nicolaus lowered their target price on Weave Communications from $20.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Raymond James lowered their price objective on Weave Communications from $20.00 to $17.00 and set a “strong-buy” rating for the company in a research note on Tuesday, April 29th. Finally, Piper Sandler cut their target price on Weave Communications from $17.00 to $14.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. One equities research 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. Based on data from MarketBeat, Weave Communications currently has a consensus rating of “Buy” and a consensus price target of $15.90.

Insider Transactions at Weave Communications

In other Weave Communications news, CEO Brett T. White sold 109,722 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $11.26, for a total transaction of $1,235,469.72. Following the completion of the transaction, the chief executive officer now directly owns 1,790,435 shares of the company’s stock, valued at approximately $20,160,298.10. This trade represents a 5.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Alan Taylor sold 31,262 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $11.16, for a total value of $348,883.92. Following the completion of the sale, the chief financial officer now directly owns 247,484 shares in the company, valued at $2,761,921.44. This represents a 11.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 449,265 shares of company stock valued at $5,781,607. Company insiders own 18.40% of the company’s stock.

Weave Communications Stock Performance

Shares of WEAV stock opened at $10.69 on Tuesday. The business has a 50 day simple moving average of $10.70 and a 200 day simple moving average of $13.57. 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 firm has a market capitalization of $800.31 million, a price-to-earnings ratio of -27.40 and a beta of 1.97. Weave Communications, Inc. has a 12-month low of $8.16 and a 12-month high of $17.63.

Weave Communications (NYSE:WEAV) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.12). Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. On average, equities research analysts anticipate that Weave Communications, Inc. will post -0.33 EPS for the current year.

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.