Wasatch Advisors LP Acquires 1,091,028 Shares of Weave Communications, Inc. (NYSE:WEAV)

Wasatch Advisors LP raised its holdings in Weave Communications, Inc. (NYSE:WEAV) by 40.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,760,837 shares of the company’s stock after buying an additional 1,091,028 shares during the period. Wasatch Advisors LP owned about 0.05% of Weave Communications worth $48,139,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WEAV. AXA S.A. bought a new stake in Weave Communications in the second quarter valued at approximately $11,590,000. Pathway Capital Management LP bought a new stake in Weave Communications in the third quarter valued at approximately $7,308,000. Vanguard Group Inc. raised its stake in Weave Communications by 10.3% in the first quarter. Vanguard Group Inc. now owns 3,342,681 shares of the company’s stock valued at $38,374,000 after buying an additional 312,392 shares during the period. Harbor Capital Advisors Inc. bought a new stake in Weave Communications in the third quarter valued at approximately $1,904,000. Finally, Eventide Asset Management LLC bought a new stake in Weave Communications in the third quarter valued at approximately $1,521,000. Institutional investors own 86.83% of the company’s stock.

Analyst Ratings Changes

WEAV has been the topic of a number of recent research reports. Piper Sandler increased their target price on Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Loop Capital increased their target price on Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group increased their target price on Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $16.50.

Insider Buying and Selling

In related news, CFO Alan Taylor sold 3,560 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $10.39, for a total transaction of $36,988.40. Following the sale, the chief financial officer now owns 525,555 shares of the company’s stock, valued at $5,460,516.45. This represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Blake G. Modersitzki sold 10,029 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $14.12, for a total value of $141,609.48. Following the sale, the director now directly owns 281,926 shares in the company, valued at $3,980,795.12. This represents a 3.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 487,986 shares of company stock valued at $6,673,473 over the last 90 days. 36.30% of the stock is owned by corporate insiders.

Weave Communications Price Performance

Shares of NYSE WEAV opened at $13.67 on Friday. The firm has a market cap of $994.77 million, a P/E ratio of -34.18 and a beta of 2.08. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09. Weave Communications, Inc. has a 1-year low of $8.10 and a 1-year high of $14.50. The business’s 50 day moving average is $13.30 and its 200-day moving average is $11.02.

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.