Price T Rowe Associates Inc. MD Buys 3,456 Shares of Weave Communications, Inc. (NYSE:WEAV)

Price T Rowe Associates Inc. MD grew its holdings in Weave Communications, Inc. (NYSE:WEAV) by 27.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,969 shares of the company’s stock after acquiring an additional 3,456 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Weave Communications were worth $255,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Summit Investment Advisors Inc. boosted its holdings in Weave Communications by 28.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company’s stock worth $66,000 after acquiring an additional 928 shares in the last quarter. Amundi acquired a new stake in Weave Communications in the fourth quarter worth about $66,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Weave Communications during the fourth quarter worth about $131,000. US Bancorp DE lifted its holdings in shares of Weave Communications by 8.4% during the fourth quarter. US Bancorp DE now owns 9,053 shares of the company’s stock worth $144,000 after purchasing an additional 703 shares during the period. Finally, Cerity Partners LLC acquired a new stake in shares of Weave Communications during the fourth quarter worth about $159,000. Institutional investors and hedge funds own 86.83% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on WEAV. Piper Sandler lifted their target price on Weave Communications from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Raymond James decreased their target price on Weave Communications from $20.00 to $17.00 and set a “strong-buy” rating for the company in a report on Tuesday, April 29th. Finally, Stifel Nicolaus decreased 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. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Weave Communications currently has an average rating of “Buy” and a consensus price target of $16.10.

Insider Activity at Weave Communications

In other news, Director Blake G. Modersitzki sold 74,756 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $17.49, for a total value of $1,307,482.44. Following the completion of the sale, the director now directly owns 179,153 shares in the company, valued at $3,133,385.97. The trade was a 29.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brett T. White sold 109,722 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $11.26, for a total value of $1,235,469.72. Following the completion of the sale, the chief executive officer now owns 1,790,435 shares of the company’s stock, valued at $20,160,298.10. This trade represents a 5.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 394,770 shares of company stock worth $4,829,756. 18.40% of the stock is owned by corporate insiders.

Weave Communications Trading Down 0.4%

Weave Communications stock opened at $10.77 on Friday. The stock has a 50-day moving average price of $10.47 and a 200 day moving average price of $13.40. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $810.01 million, a price-to-earnings ratio of -27.63 and a beta of 1.97. Weave Communications, Inc. has a 52 week low of $8.18 and a 52 week high of $17.63.

Weave Communications (NYSE:WEAV) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.12). The company had revenue of $55.81 million for the quarter, compared to analysts’ expectations of $54.72 million. Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. Sell-side analysts anticipate that Weave Communications, Inc. will post -0.33 EPS for the current year.

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.