Fmr LLC Acquires 60,574 Shares of Weave Communications, Inc. (NYSE:WEAV)

Fmr LLC boosted its position in shares of Weave Communications, Inc. (NYSE:WEAV) by 161.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 97,991 shares of the company’s stock after purchasing an additional 60,574 shares during the quarter. Fmr LLC’s holdings in Weave Communications were worth $1,254,000 as of its most recent filing with the Securities and Exchange Commission.

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

Weave Communications Stock Up 3.2 %

Shares of NYSE:WEAV opened at $15.95 on Tuesday. 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, Inc. has a 52-week low of $8.10 and a 52-week high of $16.16. The business’s 50 day simple moving average is $13.83 and its two-hundred day simple moving average is $11.51. The firm has a market cap of $1.16 billion, a P/E ratio of -39.88 and a beta of 2.00.

Insider Buying and Selling

In related news, Director Blake G. Modersitzki sold 15,718 shares of Weave Communications stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $13.49, for a total transaction of $212,035.82. Following the transaction, the director now owns 303,935 shares of the company’s stock, valued at $4,100,083.15. The trade was a 4.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Alan Taylor sold 24,499 shares of Weave Communications stock in a transaction on Friday, September 20th. The stock was sold at an average price of $12.58, for a total transaction of $308,197.42. Following the transaction, the chief financial officer now directly owns 451,442 shares in the company, valued at $5,679,140.36. This represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,123,158 shares of company stock worth $16,128,886 in the last ninety days. Corporate insiders own 36.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Piper Sandler upped their target price on Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group lifted their target price on shares of Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a research note 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 equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Weave Communications currently has a consensus rating of “Buy” and an average target price of $16.50.

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.