Pelion Inc. Sells 1,690,081 Shares of Weave Communications, Inc. (NYSE:WEAV)

Pelion Inc. lowered its stake in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) by 30.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,855,290 shares of the company's stock after selling 1,690,081 shares during the quarter. Weave Communications makes up approximately 47.1% of Pelion Inc.'s holdings, making the stock its biggest holding. Pelion Inc. owned about 5.30% of Weave Communications worth $61,376,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in Weave Communications during the 3rd quarter worth $45,000. Amundi acquired a new position in Weave Communications during the fourth quarter valued at approximately $66,000. KLP Kapitalforvaltning AS bought a new stake in Weave Communications in the fourth quarter valued at approximately $131,000. US Bancorp DE raised its holdings in Weave Communications by 8.4% in the fourth quarter. US Bancorp DE now owns 9,053 shares of the company's stock worth $144,000 after purchasing an additional 703 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of Weave Communications during the fourth quarter worth $162,000. Institutional investors and hedge funds own 86.83% of the company's stock.

Insiders Place Their Bets

In other news, insider Branden Neish sold 25,510 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $11.33, for a total value of $289,028.30. Following the completion of the transaction, the insider now owns 460,908 shares in the company, valued at $5,222,087.64. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Blake G. Modersitzki sold 40,907 shares of the company's stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $16.47, for a total value of $673,738.29. Following the sale, the director now owns 199,261 shares in the company, valued at $3,281,828.67. The trade was a 17.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 597,322 shares of company stock valued at $8,642,847 in the last quarter. 36.30% of the stock is currently owned by insiders.

Weave Communications Stock Down 0.9 %

WEAV traded down $0.08 during trading on Monday, reaching $9.33. The company had a trading volume of 389,556 shares, compared to its average volume of 981,298. Weave Communications, Inc. has a 12 month low of $8.10 and a 12 month high of $17.63. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59. The business's fifty day moving average price is $13.66 and its 200 day moving average price is $14.05. The company has a market cap of $689.41 million, a P/E ratio of -23.92 and a beta of 1.97.

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

Analyst Ratings Changes

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

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.