Charles Schwab Investment Management Inc. raised its holdings in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) by 11.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 435,099 shares of the company's stock after acquiring an additional 45,475 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.61% of Weave Communications worth $5,569,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Weave Communications by 20.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 347,302 shares of the company's stock worth $4,445,000 after purchasing an additional 58,359 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Weave Communications during the third quarter worth approximately $291,000. Pathway Capital Management LP bought a new position in Weave Communications in the 3rd quarter valued at about $7,308,000. Summit Global Investments acquired a new position in shares of Weave Communications during the 3rd quarter worth $460,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Weave Communications by 139.0% in the 3rd quarter. Principal Financial Group Inc. now owns 89,768 shares of the company's stock valued at $1,149,000 after acquiring an additional 52,210 shares during the last quarter. 86.83% of the stock is currently owned by institutional investors.
Weave Communications Stock Performance
Shares of NYSE:WEAV traded down $0.10 during trading on Friday, hitting $15.46. 897,217 shares of the stock traded hands, compared to its average volume of 539,880. The company has a fifty day moving average price of $13.77 and a two-hundred day moving average price of $11.43. Weave Communications, Inc. has a 52-week low of $8.10 and a 52-week high of $15.93. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -38.65 and a beta of 2.00. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09.
Insiders Place Their Bets
In other news, CFO Alan Taylor sold 24,499 shares of the company's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $12.58, for a total value of $308,197.42. Following the completion of the sale, the chief financial officer now directly owns 451,442 shares in the company, valued at $5,679,140.36. This represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Blake G. Modersitzki sold 51,332 shares of Weave Communications 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 transaction, the director now owns 306,852 shares in the company, valued at approximately $4,145,570.52. The trade was a 14.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,136,453 shares of company stock worth $16,275,529. Company insiders own 36.30% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. Piper Sandler raised 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 boosted their target price 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 lifted their target price on shares of Weave Communications from $15.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $16.50.
Check Out Our Latest Stock Report on WEAV
Weave Communications Company Profile
(
Free Report)
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.
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