Raymond James Financial Inc. Purchases New Position in Weave Communications, Inc. (NYSE:WEAV)

Raymond James Financial Inc. purchased a new stake in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 941,210 shares of the company's stock, valued at approximately $14,984,000. Raymond James Financial Inc. owned 1.29% of Weave Communications at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP bought a new position in shares of Weave Communications during the 3rd quarter valued at $45,000. US Bancorp DE increased its stake in shares of Weave Communications by 8.4% in the 4th quarter. US Bancorp DE now owns 9,053 shares of the company's stock worth $144,000 after purchasing an additional 703 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Weave Communications in the 4th quarter worth $162,000. Silverleafe Capital Partners LLC purchased a new stake in shares of Weave Communications in the 4th quarter worth $206,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Weave Communications in the 4th quarter worth $228,000. 86.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

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Weave Communications Price Performance

WEAV stock traded up $0.08 during trading on Friday, reaching $11.72. The company's stock had a trading volume of 1,023,564 shares, compared to its average volume of 655,807. Weave Communications, Inc. has a 1 year low of $8.10 and a 1 year 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. The company has a market capitalization of $865.81 million, a P/E ratio of -30.04 and a beta of 1.96. The company's fifty day moving average is $14.60 and its 200-day moving average is $13.98.

Weave Communications (NYSE:WEAV - Get Free Report) last issued its quarterly 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). Weave Communications had a negative return on equity of 28.37% and a negative net margin of 13.87%. The business had revenue of $54.17 million during the quarter, compared to analysts' expectations of $53.23 million. On average, research analysts expect that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.

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 transaction 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 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 31,262 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $11.16, for a total value of $348,883.92. Following the transaction, the chief financial officer now owns 247,484 shares of the company's stock, valued at approximately $2,761,921.44. The trade was a 11.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 682,086 shares of company stock worth $10,040,605. Corporate insiders own 36.30% of the company's stock.

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.