JPMorgan Chase & Co. Buys 38,729 Shares of Weave Communications, Inc. (NYSE:WEAV)

JPMorgan Chase & Co. lifted its stake in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 26.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 183,406 shares of the company's stock after acquiring an additional 38,729 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.25% of Weave Communications worth $2,920,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Amundi acquired a new position in shares of Weave Communications during the 4th quarter worth approximately $66,000. KLP Kapitalforvaltning AS bought a new position in shares of Weave Communications in the fourth quarter valued at $131,000. US Bancorp DE grew its stake in shares of 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 buying an additional 703 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Weave Communications during the fourth quarter worth $162,000. Finally, AXQ Capital LP bought a new stake in Weave Communications during the fourth quarter worth $168,000. Institutional investors own 86.83% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Raymond James restated a "strong-buy" rating and set a $20.00 price objective (up from $17.00) on shares of Weave Communications in a research note on Friday, February 21st. Piper Sandler reduced their price target on Weave Communications from $17.00 to $14.00 and set an "overweight" rating for the company in a report on Wednesday. Finally, Stifel Nicolaus dropped their price objective on Weave Communications from $20.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday. One 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.com, Weave Communications has a consensus rating of "Buy" and a consensus target price of $16.50.

Weave Communications Stock Performance

NYSE:WEAV traded up $0.44 during mid-day trading on Friday, hitting $10.43. 546,181 shares of the stock were exchanged, compared to its average volume of 727,033. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59. The firm's 50-day simple moving average is $11.17 and its 200 day simple moving average is $13.68. Weave Communications, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $17.63. The stock has a market capitalization of $781.21 million, a price-to-earnings ratio of -26.74 and a beta of 1.97.

Weave Communications (NYSE:WEAV - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.09) 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 for the quarter, compared to the consensus estimate of $53.23 million. As a group, equities analysts anticipate that Weave Communications, Inc. will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling

In other Weave Communications news, 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 directly owns 247,484 shares of the company's stock, valued at $2,761,921.44. This trade represents a 11.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Branden Neish sold 25,510 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The shares were 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 of the company's stock, valued at $5,222,087.64. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 595,028 shares of company stock valued at $8,606,000 over the last 90 days. 18.40% of the stock is owned by corporate insiders.

About Weave Communications

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.