AlphaQuest LLC Lowers Stake in Weave Communications, Inc. $WEAV

AlphaQuest LLC lowered its position in shares of Weave Communications, Inc. (NYSE:WEAV) by 27.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,818 shares of the company’s stock after selling 9,778 shares during the quarter. AlphaQuest LLC’s holdings in Weave Communications were worth $215,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in WEAV. Summit Securities Group LLC purchased a new position in Weave Communications during the first quarter valued at approximately $29,000. a16z Perennial Management L.P. purchased a new position in Weave Communications during the first quarter valued at approximately $36,000. Amundi grew its holdings in Weave Communications by 27.1% during the 1st quarter. Amundi now owns 5,301 shares of the company’s stock valued at $59,000 after buying an additional 1,130 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in Weave Communications during the 2nd quarter valued at approximately $83,000. Finally, KLP Kapitalforvaltning AS grew its holdings in Weave Communications by 51.2% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 12,400 shares of the company’s stock valued at $103,000 after buying an additional 4,200 shares in the last quarter. Hedge funds and other institutional investors own 86.83% of the company’s stock.

Weave Communications Price Performance

Weave Communications stock opened at $7.44 on Monday. The company has a market cap of $573.33 million, a price-to-earnings ratio of -17.31 and a beta of 1.71. The firm’s fifty day moving average is $7.20 and its 200 day moving average is $8.27. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.09. Weave Communications, Inc. has a 52-week low of $6.35 and a 52-week high of $17.63.

Weave Communications (NYSE:WEAV) last announced its earnings results on Thursday, July 31st. The company reported ($0.10) earnings per share for the quarter. Weave Communications had a negative net margin of 14.32% and a negative return on equity of 43.15%. The firm had revenue of $58.50 million during the quarter, compared to analysts’ expectations of $57.81 million. Sell-side analysts forecast that Weave Communications, Inc. will post -0.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on WEAV. Piper Sandler lowered their target price on shares of Weave Communications from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday. Weiss Ratings reissued a “sell (e+)” rating on shares of Weave Communications in a report on Tuesday, October 14th. Stifel Nicolaus lowered their target price on shares of Weave Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Friday. Finally, Raymond James Financial lowered their target price on shares of Weave Communications from $17.00 to $15.00 and set a “strong-buy” rating on the stock in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $12.67.

Insider Buying and Selling

In related news, CEO Brett T. White sold 53,953 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $7.73, for a total value of $417,056.69. Following the transaction, the chief executive officer owned 1,922,071 shares of the company’s stock, valued at $14,857,608.83. This trade represents a 2.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Marcus Bertilson sold 13,836 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $7.73, for a total transaction of $106,952.28. Following the completion of the transaction, the chief operating officer directly owned 338,592 shares in the company, valued at $2,617,316.16. This represents a 3.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 107,179 shares of company stock worth $825,403 over the last ninety days. 18.40% of the stock is owned by insiders.

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.