Weave Communications, Inc. (NYSE:WEAV) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) by 13.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 144,677 shares of the company's stock after purchasing an additional 17,530 shares during the period. JPMorgan Chase & Co. owned approximately 0.20% of Weave Communications worth $1,852,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in Weave Communications in the third quarter worth about $45,000. Quarry LP purchased a new position in shares of Weave Communications in the 3rd quarter valued at approximately $45,000. US Bancorp DE acquired a new stake in Weave Communications in the 3rd quarter worth approximately $107,000. Dark Forest Capital Management LP purchased a new stake in Weave Communications during the 2nd quarter worth approximately $134,000. Finally, The Manufacturers Life Insurance Company increased its stake in Weave Communications by 26.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,923 shares of the company's stock valued at $144,000 after purchasing an additional 3,315 shares in the last quarter. Institutional investors and hedge funds own 86.83% of the company's stock.

Insider Transactions at Weave Communications

In related news, Director Blake G. Modersitzki sold 84,764 shares of the company's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $16.49, for a total value of $1,397,758.36. Following the completion of the transaction, the director now owns 201,975 shares of the company's stock, valued at approximately $3,330,567.75. This represents a 29.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Alan Taylor sold 4,182 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $16.03, for a total value of $67,037.46. Following the completion of the sale, the chief financial officer now directly owns 283,516 shares in the company, valued at approximately $4,544,761.48. The trade was a 1.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,161,355 shares of company stock valued at $17,124,720 in the last 90 days. 36.30% of the stock is currently owned by company insiders.

Weave Communications Stock Performance

NYSE:WEAV traded up $0.14 during mid-day trading on Thursday, hitting $15.98. The company's stock had a trading volume of 425,866 shares, compared to its average volume of 710,627. The business's fifty day moving average is $15.10 and its two-hundred day moving average is $12.81. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -39.94 and a beta of 1.92. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59. Weave Communications, Inc. has a 1 year low of $8.10 and a 1 year high of $16.56.

Weave Communications (NYSE:WEAV - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported ($0.08) EPS for the quarter. The company had revenue of $52.39 million during the quarter, compared to analysts' expectations of $51.47 million. Weave Communications had a negative return on equity of 28.01% and a negative net margin of 14.64%. During the same quarter in the previous year, the company earned ($0.10) EPS. Analysts anticipate that Weave Communications, Inc. will post -0.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WEAV has been the topic of a number of research analyst reports. Piper Sandler boosted their price objective on shares of Weave Communications from $16.00 to $17.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. The Goldman Sachs Group increased their price objective on Weave Communications from $13.00 to $14.50 and gave the company a "neutral" rating in a report on Friday, November 1st. Finally, Loop Capital lifted their target price on Weave Communications from $15.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. One 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 company currently has a consensus rating of "Buy" and an average price target of $16.50.

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.