Weave Communications, Inc. (NYSE:WEAV) Shares Sold by Invesco Ltd.

Invesco Ltd. reduced its stake in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) by 20.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 251,477 shares of the company's stock after selling 64,738 shares during the period. Invesco Ltd. owned 0.35% of Weave Communications worth $4,004,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cerity Partners LLC acquired a new stake in shares of Weave Communications during the 4th quarter worth about $159,000. Federated Hermes Inc. lifted its stake in shares of Weave Communications by 20.3% during the fourth quarter. Federated Hermes Inc. now owns 324,158 shares of the company's stock valued at $5,161,000 after buying an additional 54,623 shares during the period. Russell Investments Group Ltd. grew its stake in Weave Communications by 7.1% in the 4th quarter. Russell Investments Group Ltd. now owns 25,031 shares of the company's stock worth $398,000 after acquiring an additional 1,658 shares during the period. Wells Fargo & Company MN raised its holdings in Weave Communications by 47.1% in the 4th quarter. Wells Fargo & Company MN now owns 20,157 shares of the company's stock valued at $321,000 after acquiring an additional 6,456 shares during the last quarter. Finally, Integrated Quantitative Investments LLC purchased a new position in shares of Weave Communications during the 4th quarter worth $325,000. Hedge funds and other institutional investors own 86.83% of the company's stock.

Insiders Place Their Bets

In other news, COO Marcus Bertilson sold 27,599 shares of the company's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $11.33, for a total value 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 approximately $2,815,527.66. This represents a 10.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brett T. White sold 109,722 shares of Weave Communications stock in a transaction on Monday, March 17th. The stock was sold at an average price of $11.26, for a total transaction of $1,235,469.72. Following the sale, the chief executive officer now directly owns 1,790,435 shares in the company, valued at $20,160,298.10. This trade represents a 5.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 519,509 shares of company stock worth $7,408,268 over the last quarter. 18.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on WEAV shares. Piper Sandler dropped their target price on Weave Communications from $17.00 to $14.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Stifel Nicolaus dropped their price objective on shares of Weave Communications from $20.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Raymond James reissued a "strong-buy" rating and issued a $20.00 target price (up from $17.00) on shares of Weave Communications in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Weave Communications currently has an average rating of "Buy" and an average price target of $16.50.

Weave Communications Stock Up 4.4 %

Shares of NYSE:WEAV opened at $10.43 on Monday. The stock has a 50-day simple moving average of $11.17 and a 200-day simple moving average of $13.69. The stock has a market capitalization of $781.21 million, a P/E ratio of -26.74 and a beta of 1.97. Weave Communications, Inc. has a 1 year low of $8.10 and a 1 year high of $17.63. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59.

Weave Communications (NYSE:WEAV - Get Free Report) last released its quarterly earnings data 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 business had revenue of $54.17 million for the quarter, compared to analysts' expectations of $53.23 million. Equities analysts forecast that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

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.

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