Portolan Capital Management LLC Makes New Investment in Weave Communications, Inc. (NYSE:WEAV)

Portolan Capital Management LLC bought a new stake in Weave Communications, Inc. (NYSE:WEAV - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 433,495 shares of the company's stock, valued at approximately $6,901,000. Portolan Capital Management LLC owned 0.60% of Weave Communications as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of WEAV. FMR LLC raised its stake in Weave Communications by 161.9% during the 3rd quarter. FMR LLC now owns 97,991 shares of the company's stock valued at $1,254,000 after buying an additional 60,574 shares during the last quarter. Principal Financial Group Inc. increased its position in Weave Communications by 33.0% in the fourth 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. Lord Abbett & CO. LLC boosted its holdings in shares of Weave Communications by 37.7% in the 3rd 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 during the period. JPMorgan Chase & Co. lifted its stake in Weave Communications by 13.8% in the third quarter. JPMorgan Chase & Co. now owns 144,677 shares of the company's stock worth $1,852,000 after purchasing an additional 17,530 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Weave Communications by 6.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 464,330 shares of the company's stock worth $7,392,000 after buying an additional 29,231 shares during the period. Institutional investors own 86.83% of the company's stock.

Wall Street Analysts Forecast Growth

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

Weave Communications Price Performance

Shares of Weave Communications stock traded down $0.08 during mid-day trading on Friday, reaching $9.31. 415,109 shares of the stock traded hands, compared to its average volume of 719,072. The stock has a market capitalization of $687.64 million, a PE ratio of -23.86 and a beta of 1.97. The business has a 50-day moving average of $12.10 and a 200 day moving average of $13.82. Weave Communications, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $17.63. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09.

Weave Communications (NYSE:WEAV - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate 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 business had revenue of $54.17 million during the quarter, compared to analysts' expectations of $53.23 million. On average, analysts predict that Weave Communications, Inc. will post -0.33 EPS for the current year.

Insider Activity

In related news, Director Blake G. Modersitzki sold 40,907 shares of the company's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $16.47, for a total transaction of $673,738.29. Following the transaction, the director now owns 199,261 shares of the company's stock, valued at approximately $3,281,828.67. This represents a 17.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Alan Taylor sold 31,262 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $11.16, for a total transaction of $348,883.92. Following the completion of the sale, the chief financial officer now directly owns 247,484 shares in the company, valued at $2,761,921.44. This represents a 11.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 596,528 shares of company stock worth $8,630,675. Corporate insiders own 36.30% of the company's stock.

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.