Arrowstreet Capital Limited Partnership Buys 1,105,728 Shares of Weave Communications, Inc. (NYSE:WEAV)

Arrowstreet Capital Limited Partnership grew its stake in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 202.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,650,760 shares of the company's stock after buying an additional 1,105,728 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 2.27% of Weave Communications worth $26,280,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Quarry LP purchased a new position in Weave Communications in the third quarter worth $45,000. Amundi purchased a new position in shares of Weave Communications in the 4th quarter worth about $66,000. KLP Kapitalforvaltning AS purchased a new position in shares of Weave Communications in the 4th quarter worth about $131,000. US Bancorp DE increased its position in shares of Weave Communications by 8.4% during the 4th quarter. US Bancorp DE now owns 9,053 shares of the company's stock valued at $144,000 after purchasing an additional 703 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Weave Communications during the 4th quarter valued at about $162,000. Institutional investors own 86.83% of the company's stock.

Insider Activity

In other Weave Communications news, Director Blake G. Modersitzki sold 103,620 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $16.53, for a total value of $1,712,838.60. Following the completion of the sale, the director now owns 188,792 shares in the company, valued at approximately $3,120,731.76. This trade represents a 35.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brett T. White sold 109,722 shares of Weave Communications stock in a transaction that occurred on Monday, March 17th. The stock was 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 in the company, valued at approximately $20,160,298.10. This represents a 5.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 597,322 shares of company stock valued at $8,642,847. 36.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Raymond James reaffirmed a "strong-buy" rating and issued a $20.00 target price (up previously from $17.00) on shares of Weave Communications in a research note on Friday, February 21st.

Weave Communications Trading Down 1.4 %

Shares of NYSE:WEAV traded down $0.13 on Monday, reaching $9.28. 1,307,943 shares of the company traded hands, compared to its average volume of 699,817. The stock has a market capitalization of $685.79 million, a P/E ratio of -23.79 and a beta of 1.97. The business's 50-day simple moving average is $13.53 and its 200 day simple moving average is $14.03. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09. Weave Communications, Inc. has a 52 week low of $8.10 and a 52 week high of $17.63.

Weave Communications (NYSE:WEAV - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.12). The company had revenue of $54.17 million for the quarter, compared to analysts' expectations of $53.23 million. Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. As a group, equities analysts anticipate that Weave Communications, Inc. will post -0.33 EPS for the current fiscal 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.