Weave Communications, Inc. (NYSE:WEAV) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. boosted its stake in Weave Communications, Inc. (NYSE:WEAV) by 73.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,396 shares of the company’s stock after buying an additional 12,900 shares during the quarter. Point72 Asset Management L.P.’s holdings in Weave Communications were worth $389,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WEAV. nVerses Capital LLC purchased a new position in shares of Weave Communications in the third quarter worth about $45,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Weave Communications by 48.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company’s stock worth $90,000 after purchasing an additional 3,228 shares in the last quarter. Private Management Group Inc. acquired a new position in shares of Weave Communications during the 2nd quarter worth approximately $90,000. US Bancorp DE purchased a new stake in shares of Weave Communications in the third quarter valued at approximately $107,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Weave Communications in the second quarter valued at approximately $134,000. 86.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WEAV has been the subject of several analyst reports. Piper Sandler upped their target price on 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 upped their price objective on shares of 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 shares of Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $16.50.

Insider Transactions at Weave Communications

In other news, CFO Alan Taylor sold 24,499 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $12.58, for a total transaction of $308,197.42. Following the sale, the chief financial officer now owns 451,442 shares of the company’s stock, valued at approximately $5,679,140.36. This represents a 5.15 % 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 the SEC website. Also, Director Blake G. Modersitzki sold 51,332 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $13.51, for a total value of $693,495.32. Following the sale, the director now directly owns 306,852 shares in the company, valued at $4,145,570.52. This represents a 14.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 851,257 shares of company stock worth $11,905,846. 36.30% of the stock is currently owned by insiders.

Weave Communications Stock Up 0.9 %

Shares of NYSE:WEAV opened at $15.54 on Friday. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -38.85 and a beta of 2.00. Weave Communications, Inc. has a 12-month low of $8.10 and a 12-month high of $15.93. The business has a 50-day moving average price of $13.72 and a 200 day moving average price of $11.38. 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 Company 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.