Pathway Capital Management LP Makes New $7.31 Million Investment in Weave Communications, Inc. (NYSE:WEAV)

Pathway Capital Management LP acquired a new position in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 570,952 shares of the company's stock, valued at approximately $7,308,000. Weave Communications makes up about 13.8% of Pathway Capital Management LP's portfolio, making the stock its 3rd largest position. Pathway Capital Management LP owned approximately 0.80% of Weave Communications at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Silvercrest Asset Management Group LLC lifted its stake in shares of Weave Communications by 39.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 505,525 shares of the company's stock worth $5,803,000 after purchasing an additional 143,382 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Weave Communications by 17.8% during the second quarter. Renaissance Technologies LLC now owns 593,500 shares of the company's stock worth $5,353,000 after purchasing an additional 89,600 shares during the last quarter. Summit Global Investments purchased a new position in Weave Communications in the 3rd quarter valued at $460,000. Jacobs Levy Equity Management Inc. acquired a new position in Weave Communications during the first quarter worth about $1,816,000. Finally, Bailard Inc. acquired a new stake in shares of Weave Communications during the 2nd quarter worth $851,000. Hedge funds and other institutional investors own 86.83% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WEAV. Loop Capital upped their price target on shares of Weave Communications from $15.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Piper Sandler raised their target price on shares of Weave Communications from $16.00 to $17.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their price objective on shares of Weave Communications from $13.00 to $14.50 and gave the company a "neutral" rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Weave Communications currently has an average rating of "Buy" and an average target price of $16.50.

Weave Communications Stock Up 1.2 %

WEAV traded up $0.16 during trading on Tuesday, reaching $14.17. 911,584 shares of the stock traded hands, compared to its average volume of 495,107. The stock's 50-day simple moving average is $12.51 and its two-hundred day simple moving average is $10.63. Weave Communications, Inc. has a fifty-two week low of $7.95 and a fifty-two week high of $14.50. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -35.00 and a beta of 2.08. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.64 and a quick ratio of 1.64.

Insider Activity at Weave Communications

In other Weave Communications news, CFO Alan Taylor sold 3,560 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $10.39, for a total value of $36,988.40. Following the sale, the chief financial officer now owns 525,555 shares in the company, valued at $5,460,516.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Blake G. Modersitzki sold 121,148 shares of the firm's stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $14.05, for a total transaction of $1,702,129.40. Following the completion of the transaction, the director now owns 296,182 shares in the company, valued at $4,161,357.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Alan Taylor sold 3,560 shares of the firm's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $10.39, for a total value of $36,988.40. Following the completion of the transaction, the chief financial officer now owns 525,555 shares of the company's stock, valued at $5,460,516.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 286,106 shares of company stock worth $3,811,470 in the last ninety days. Company insiders own 36.30% of the company's stock.

About Weave Communications

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.