Principal Financial Group Inc. Boosts Stock Position in Weave Communications, Inc. (NYSE:WEAV)

Principal Financial Group Inc. raised its stake in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) by 33.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 119,351 shares of the company's stock after purchasing an additional 29,583 shares during the quarter. Principal Financial Group Inc. owned approximately 0.16% of Weave Communications worth $1,900,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its position in Weave Communications by 161.9% during the 3rd quarter. FMR LLC now owns 97,991 shares of the company's stock valued at $1,254,000 after purchasing an additional 60,574 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Weave Communications by 11.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 435,099 shares of the company's stock worth $5,569,000 after purchasing an additional 45,475 shares during the period. XTX Topco Ltd grew its stake in Weave Communications by 429.2% in the third quarter. XTX Topco Ltd now owns 56,016 shares of the company's stock worth $717,000 after purchasing an additional 45,430 shares during the period. Pathway Capital Management LP purchased a new stake in shares of Weave Communications in the 3rd quarter worth approximately $7,308,000. Finally, Summit Global Investments purchased a new stake in shares of Weave Communications in the 3rd quarter worth approximately $460,000. 86.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Weave Communications

In other news, CFO Alan Taylor sold 44,245 shares of the business's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.98, for a total value of $707,035.10. Following the transaction, the chief financial officer now directly owns 301,734 shares in the company, valued at $4,821,709.32. The trade was a 12.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Blake G. Modersitzki sold 192,266 shares of the business's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $15.25, for a total value of $2,932,056.50. Following the completion of the transaction, the director now owns 225,412 shares in the company, valued at $3,437,533. The trade was a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 799,388 shares of company stock worth $12,889,038 in the last three months. Corporate insiders own 36.30% of the company's stock.

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Wall Street Analysts Forecast Growth

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

Weave Communications Stock Performance

Shares of NYSE WEAV traded down $0.17 during trading on Friday, reaching $11.46. 1,061,946 shares of the company traded hands, compared to its average volume of 1,039,722. The firm has a 50 day simple moving average of $15.51 and a 200-day simple moving average of $13.98. 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 stock has a market capitalization of $834.10 million, a PE ratio of -29.39 and a beta of 1.96. Weave Communications, Inc. has a 52-week low of $8.10 and a 52-week high of $17.63.

Weave Communications (NYSE:WEAV - Get Free Report) last released 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 net margin of 13.87% and a negative return on equity of 28.37%. The firm had revenue of $54.17 million for the quarter, compared to the consensus estimate of $53.23 million. Equities research analysts anticipate 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.