Teacher Retirement System of Texas Buys 12,566 Shares of Weave Communications, Inc. (NYSE:WEAV)

Teacher Retirement System of Texas boosted its stake in Weave Communications, Inc. (NYSE:WEAV) by 31.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,172 shares of the company’s stock after purchasing an additional 12,566 shares during the period. Teacher Retirement System of Texas owned approximately 0.07% of Weave Communications worth $579,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of WEAV. Oppenheimer & Co. Inc. purchased a new position in shares of Weave Communications during the 1st quarter valued at about $186,000. Rhumbline Advisers lifted its stake in shares of Weave Communications by 9.1% during the 1st quarter. Rhumbline Advisers now owns 55,109 shares of the company’s stock valued at $611,000 after buying an additional 4,594 shares in the last quarter. Arcadia Wealth Management Inc. bought a new position in Weave Communications in the 4th quarter worth $215,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Weave Communications by 37.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 82,947 shares of the company’s stock worth $1,321,000 after buying an additional 22,448 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in Weave Communications during the fourth quarter valued at about $10,186,000. 86.83% of the stock is owned by institutional investors.

Insider Transactions at Weave Communications

In other news, CRO Joseph David Mcneil sold 14,302 shares of the firm’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $8.53, for a total value of $121,996.06. Following the completion of the sale, the executive owned 409,060 shares of the company’s stock, valued at $3,489,281.80. This trade represents a 3.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Branden Neish sold 20,232 shares of the firm’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $10.23, for a total value of $206,973.36. Following the completion of the sale, the insider directly owned 526,011 shares of the company’s stock, valued at approximately $5,381,092.53. This represents a 3.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 160,577 shares of company stock worth $1,499,638. 18.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

WEAV has been the topic of several recent analyst reports. Stifel Nicolaus decreased their target price on Weave Communications from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Piper Sandler raised their target price on shares of Weave Communications from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Finally, Raymond James Financial decreased their price target on shares of Weave Communications from $20.00 to $17.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, April 29th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $16.10.

Weave Communications Price Performance

Shares of WEAV stock opened at $7.38 on Thursday. The stock has a 50 day moving average price of $9.16 and a 200 day moving average price of $11.75. The firm has a market capitalization of $554.47 million, a P/E ratio of -17.99 and a beta of 1.76. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.60 and a current ratio of 1.60. Weave Communications, Inc. has a 52-week low of $7.25 and a 52-week high of $17.63.

Weave Communications (NYSE:WEAV) last posted 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 the consensus estimate of $54.72 million. Weave Communications had a negative net margin of 14.07% and a negative return on equity of 31.08%. As a group, sell-side analysts predict that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

Weave Communications Company 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.