Norges Bank Buys Shares of 327,800 Weave Communications, Inc. (NYSE:WEAV)

Norges Bank acquired a new stake in Weave Communications, Inc. (NYSE:WEAV - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 327,800 shares of the company's stock, valued at approximately $5,219,000. Norges Bank owned approximately 0.45% of Weave Communications at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of WEAV. FMR LLC increased its stake in shares of Weave Communications by 161.9% during the third quarter. FMR LLC now owns 97,991 shares of the company's stock worth $1,254,000 after buying an additional 60,574 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Weave Communications by 11.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 435,099 shares of the company's stock valued at $5,569,000 after purchasing an additional 45,475 shares during the last quarter. XTX Topco Ltd raised its holdings in shares of Weave Communications by 429.2% in the 3rd quarter. XTX Topco Ltd now owns 56,016 shares of the company's stock valued at $717,000 after purchasing an additional 45,430 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Weave Communications by 33.0% during the 4th quarter. Principal Financial Group Inc. now owns 119,351 shares of the company's stock worth $1,900,000 after purchasing an additional 29,583 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in shares of Weave Communications by 37.7% during the third quarter. Lord Abbett & CO. LLC now owns 873,411 shares of the company's stock worth $11,180,000 after purchasing an additional 239,202 shares in the last quarter. Institutional investors and hedge funds own 86.83% of the company's stock.

Weave Communications Stock Performance

Shares of WEAV stock traded up $0.23 during mid-day trading on Tuesday, hitting $9.63. The stock had a trading volume of 128,807 shares, compared to its average volume of 977,176. The firm has a market cap of $711.29 million, a PE ratio of -24.67 and a beta of 1.97. The company's 50-day simple moving average is $12.57 and its 200-day simple moving average is $13.90. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59. Weave Communications, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $17.63.

Weave Communications (NYSE:WEAV - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.12). Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. The firm had revenue of $54.17 million during the quarter, compared to analyst estimates of $53.23 million. Sell-side analysts anticipate that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

Insider Activity at Weave Communications

In related news, COO Marcus Bertilson sold 27,599 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $11.33, for a total transaction of $312,696.67. Following the sale, the chief operating officer now owns 248,502 shares of the company's stock, valued at approximately $2,815,527.66. The trade was a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brett T. White sold 109,722 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $11.26, for a total transaction of $1,235,469.72. Following the completion of the transaction, the chief executive officer now directly owns 1,790,435 shares of the company's stock, valued at approximately $20,160,298.10. This trade represents a 5.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 596,528 shares of company stock worth $8,630,675 over the last three months. 36.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.