Y Intercept Hong Kong Ltd Has $1.50 Million Position in Weave Communications, Inc. $WEAV

Y Intercept Hong Kong Ltd lifted its stake in Weave Communications, Inc. (NYSE:WEAV) by 162.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 180,346 shares of the company’s stock after purchasing an additional 111,687 shares during the period. Y Intercept Hong Kong Ltd owned 0.24% of Weave Communications worth $1,500,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of WEAV. Teacher Retirement System of Texas increased its holdings in shares of Weave Communications by 31.7% in the first quarter. Teacher Retirement System of Texas now owns 52,172 shares of the company’s stock valued at $579,000 after purchasing an additional 12,566 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Weave Communications by 474.5% in the first quarter. Bank of New York Mellon Corp now owns 570,810 shares of the company’s stock valued at $6,330,000 after acquiring an additional 471,446 shares during the last quarter. Values First Advisors Inc. bought a new position in Weave Communications in the first quarter valued at approximately $128,000. Cerity Partners LLC boosted its stake in Weave Communications by 55.4% in the first quarter. Cerity Partners LLC now owns 15,542 shares of the company’s stock valued at $172,000 after acquiring an additional 5,540 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in Weave Communications by 20.2% in the first quarter. Arizona State Retirement System now owns 12,524 shares of the company’s stock valued at $139,000 after acquiring an additional 2,103 shares during the last quarter. Institutional investors and hedge funds own 86.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Weave Communications in a research note on Tuesday, October 14th. Raymond James Financial reduced their price objective on shares of Weave Communications from $17.00 to $15.00 and set a “strong-buy” rating on the stock in a research note on Friday, August 1st. Piper Sandler reduced their price objective on shares of Weave Communications from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Stifel Nicolaus reduced their price objective on shares of Weave Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.67.

Insider Activity at Weave Communications

In other news, COO Marcus Bertilson sold 13,836 shares of Weave Communications stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $7.73, for a total transaction of $106,952.28. Following the transaction, the chief operating officer directly owned 338,592 shares of the company’s stock, valued at $2,617,316.16. This trade represents a 3.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jason Paul Christiansen sold 4,131 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $7.73, for a total transaction of $31,932.63. Following the completion of the sale, the chief financial officer directly owned 317,381 shares in the company, valued at $2,453,355.13. This represents a 1.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 107,179 shares of company stock valued at $825,403. 18.40% of the stock is owned by corporate insiders.

Weave Communications Trading Up 14.0%

Shares of NYSE WEAV opened at $7.44 on Monday. The company’s fifty day moving average is $7.20 and its 200-day moving average is $8.27. The stock has a market cap of $573.33 million, a price-to-earnings ratio of -17.31 and a beta of 1.71. Weave Communications, Inc. has a twelve month low of $6.35 and a twelve month high of $17.63. 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 (NYSE:WEAV) last announced its quarterly earnings results on Thursday, July 31st. The company reported ($0.10) earnings per share for the quarter. The firm had revenue of $58.50 million for the quarter, compared to the consensus estimate of $57.81 million. Weave Communications had a negative return on equity of 43.15% and a negative net margin of 14.32%. Equities research analysts predict that Weave Communications, Inc. will post -0.33 EPS 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.