Raymond James Financial Inc. Acquires 30,312 Shares of Weave Communications, Inc. $WEAV

Raymond James Financial Inc. grew its holdings in Weave Communications, Inc. (NYSE:WEAV) by 3.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 971,522 shares of the company’s stock after acquiring an additional 30,312 shares during the quarter. Raymond James Financial Inc. owned 1.30% of Weave Communications worth $10,774,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Weave Communications by 4.3% in the first quarter. Vanguard Group Inc. now owns 4,731,398 shares of the company’s stock worth $52,471,000 after acquiring an additional 194,936 shares in the last quarter. AXA S.A. increased its holdings in shares of Weave Communications by 0.7% in the fourth quarter. AXA S.A. now owns 1,294,281 shares of the company’s stock worth $20,605,000 after acquiring an additional 9,365 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Weave Communications by 176.4% in the fourth quarter. Millennium Management LLC now owns 985,018 shares of the company’s stock worth $15,681,000 after acquiring an additional 628,705 shares in the last quarter. Driehaus Capital Management LLC grew its holdings in shares of Weave Communications by 57.9% during the fourth quarter. Driehaus Capital Management LLC now owns 855,502 shares of the company’s stock worth $13,620,000 after buying an additional 313,618 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of Weave Communications by 41.3% during the fourth quarter. Nuveen Asset Management LLC now owns 824,581 shares of the company’s stock worth $13,127,000 after buying an additional 240,882 shares in the last quarter. 86.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Marcus Bertilson sold 11,409 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $8.53, for a total transaction of $97,318.77. Following the completion of the transaction, the chief operating officer directly owned 352,093 shares of the company’s stock, valued at approximately $3,003,353.29. This represents a 3.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brett T. White sold 53,111 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $8.59, for a total value of $456,223.49. Following the transaction, the chief executive officer directly owned 2,004,136 shares of the company’s stock, valued at $17,215,528.24. This trade represents a 2.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,294 shares of company stock valued at $739,723. 18.40% of the stock is currently owned by company insiders.

Weave Communications Stock Performance

Shares of NYSE WEAV opened at $7.78 on Friday. The stock has a 50 day moving average price of $7.85 and a 200 day moving average price of $9.82. Weave Communications, Inc. has a 52 week low of $6.75 and a 52 week high of $17.63. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market capitalization of $598.99 million, a PE ratio of -19.44 and a beta of 1.74.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WEAV. Piper Sandler increased their price objective 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 Financial decreased their price objective on Weave Communications from $17.00 to $15.00 and set a “strong-buy” rating for the company in a report on Friday, August 1st. Finally, Stifel Nicolaus decreased their price objective on Weave Communications from $16.00 to $13.00 and set a “buy” rating for the company in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $15.10.

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.