Principal Financial Group Inc. Grows Holdings in Weave Communications, Inc. (NYSE:WEAV)

Principal Financial Group Inc. boosted its position in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) by 139.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,768 shares of the company's stock after purchasing an additional 52,210 shares during the period. Principal Financial Group Inc. owned about 0.13% of Weave Communications worth $1,149,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in Weave Communications in the 3rd quarter worth about $45,000. US Bancorp DE bought a new position in Weave Communications in the 3rd quarter worth about $107,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Weave Communications by 48.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company's stock worth $90,000 after acquiring an additional 3,228 shares in the last quarter. Private Management Group Inc. bought a new position in Weave Communications in the 2nd quarter worth about $90,000. Finally, Kingswood Wealth Advisors LLC bought a new position in shares of Weave Communications during the second quarter valued at approximately $98,000. 86.83% of the stock is currently owned by institutional investors.

Weave Communications Stock Up 3.5 %

NYSE:WEAV traded up $0.47 during midday trading on Friday, reaching $13.91. 896,821 shares of the stock traded hands, compared to its average volume of 1,333,309. Weave Communications, Inc. has a 12-month low of $8.10 and a 12-month high of $14.50. The business has a 50-day moving average of $13.05 and a two-hundred day moving average of $10.88. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59. The stock has a market capitalization of $1.01 billion, a PE ratio of -34.78 and a beta of 2.08.

Insider Activity at Weave Communications

In other news, CFO Alan Taylor sold 8,710 shares of Weave Communications stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $14.12, for a total transaction of $122,985.20. Following the completion of the sale, the chief financial officer now directly owns 392,085 shares in the company, valued at approximately $5,536,240.20. The trade was a 2.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Blake G. Modersitzki sold 37,760 shares of Weave Communications stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $14.20, for a total transaction of $536,192.00. Following the sale, the director now owns 282,568 shares of the company's stock, valued at $4,012,465.60. The trade was a 11.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,957 shares of company stock valued at $6,531,864 over the last 90 days. Insiders own 36.30% of the company's stock.

Analysts Set New Price Targets

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

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.