Summit Global Investments Invests $460,000 in Weave Communications, Inc. (NYSE:WEAV)

Summit Global Investments acquired a new position in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 35,965 shares of the company's stock, valued at approximately $460,000. Summit Global Investments owned about 0.05% of Weave Communications at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WEAV. Point72 Asset Management L.P. increased its position in Weave Communications by 5.4% in the second quarter. Point72 Asset Management L.P. now owns 17,496 shares of the company's stock worth $158,000 after buying an additional 896 shares during the last quarter. California State Teachers Retirement System raised its stake in Weave Communications by 6.6% in the first quarter. California State Teachers Retirement System now owns 34,685 shares of the company's stock valued at $398,000 after purchasing an additional 2,152 shares in the last quarter. ClariVest Asset Management LLC grew its position in Weave Communications by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 82,194 shares of the company's stock worth $741,000 after acquiring an additional 2,298 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Weave Communications by 3.8% during the 2nd quarter. AQR Capital Management LLC now owns 68,687 shares of the company's stock valued at $620,000 after purchasing an additional 2,516 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Weave Communications by 48.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company's stock valued at $90,000 after purchasing an additional 3,228 shares in the last quarter. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Weave Communications news, Director Blake G. Modersitzki sold 51,332 shares of the business's stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $13.51, for a total transaction of $693,495.32. Following the completion of the sale, the director now directly owns 306,852 shares in the company, valued at $4,145,570.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Alan Taylor sold 2,638 shares of the company's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $13.00, for a total value of $34,294.00. Following the completion of the transaction, the chief financial officer now owns 421,847 shares of the company's stock, valued at $5,484,011. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Blake G. Modersitzki sold 51,332 shares of the company's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $13.51, for a total value of $693,495.32. Following the completion of the transaction, the director now owns 306,852 shares of the company's stock, valued at $4,145,570.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 286,106 shares of company stock valued at $3,811,470 over the last three months. Insiders own 36.30% of the company's stock.

Weave Communications Stock Performance

NYSE WEAV traded down $0.35 during trading hours on Monday, hitting $13.83. The company's stock had a trading volume of 931,272 shares, compared to its average volume of 490,249. The company's 50 day simple moving average is $12.45 and its two-hundred day simple moving average is $10.61. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.64 and a quick ratio of 1.64. The company has a market cap of $993.17 million, a P/E ratio of -35.45 and a beta of 2.08. Weave Communications, Inc. has a 12 month low of $7.95 and a 12 month high of $14.50.

Analyst Ratings Changes

A number of brokerages have commented on WEAV. Loop Capital lifted their price target on Weave Communications from $15.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their price target on Weave Communications from $13.00 to $14.50 and gave the company a "neutral" rating in a research report on Friday, November 1st. Finally, Piper Sandler raised their target price 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. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus 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.