Weave Communications, Inc. (NYSE:WEAV) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC increased its position in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) by 45.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 924,500 shares of the company's stock after buying an additional 288,700 shares during the quarter. Renaissance Technologies LLC owned about 1.27% of Weave Communications worth $14,718,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Amundi acquired a new position in shares of Weave Communications in the 4th quarter valued at $66,000. KLP Kapitalforvaltning AS purchased a new stake in Weave Communications during the 4th quarter worth about $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 valued at $144,000 after acquiring an additional 703 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of Weave Communications in the 4th quarter valued at $159,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Weave Communications in the fourth quarter valued at $162,000. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, COO Marcus Bertilson sold 27,599 shares of Weave Communications stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $11.33, for a total transaction of $312,696.67. Following the completion of the transaction, the chief operating officer now directly owns 248,502 shares in the company, valued at $2,815,527.66. The trade was a 10.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Branden Neish sold 20,741 shares of Weave Communications stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $15.86, for a total value of $328,952.26. Following the sale, the insider now owns 491,381 shares of the company's stock, valued at approximately $7,793,302.66. This represents a 4.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 596,528 shares of company stock worth $8,630,675 in the last 90 days. 36.30% of the stock is currently owned by corporate insiders.

Weave Communications Stock Performance

WEAV stock traded down $0.08 during trading on Friday, hitting $9.31. The company had a trading volume of 415,109 shares, compared to its average volume of 719,072. The firm has a market cap of $687.64 million, a PE ratio of -23.86 and a beta of 1.97. 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 firm has a 50-day moving average price of $12.10 and a 200-day moving average price of $13.82. Weave Communications, Inc. has a 1-year low of $8.10 and a 1-year high of $17.63.

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

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.