Principal Financial Group Inc. Has $1.15 Million Holdings in Weave Communications, Inc. (NYSE:WEAV)

Principal Financial Group Inc. raised its position in Weave Communications, Inc. (NYSE:WEAV) by 139.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,768 shares of the company’s stock after purchasing an additional 52,210 shares during the quarter. Principal Financial Group Inc.’s holdings in Weave Communications were worth $1,149,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Wasatch Advisors LP grew its holdings in shares of Weave Communications by 40.9% during the third quarter. Wasatch Advisors LP now owns 3,760,837 shares of the company’s stock worth $48,139,000 after buying an additional 1,091,028 shares in the last quarter. AXA S.A. bought a new position in shares of Weave Communications during the 2nd quarter worth approximately $11,590,000. State Street Corp raised its holdings in shares of Weave Communications by 19.5% in the third quarter. State Street Corp now owns 950,683 shares of the company’s stock valued at $12,169,000 after purchasing an additional 155,054 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Weave Communications by 13.0% in the third quarter. Geode Capital Management LLC now owns 883,207 shares of the company’s stock worth $11,308,000 after purchasing an additional 101,580 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in Weave Communications by 37.7% during the third quarter. Lord Abbett & CO. LLC now owns 873,411 shares of the company’s stock worth $11,180,000 after purchasing an additional 239,202 shares during the last quarter. 86.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Branden Neish sold 7,111 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $15.95, for a total value of $113,420.45. Following the completion of the sale, the insider now directly owns 512,122 shares in the company, valued at $8,168,345.90. The trade was a 1.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Alan Taylor sold 2,638 shares of Weave Communications stock in a transaction on Monday, October 7th. The stock was sold at an average price of $13.00, for a total value of $34,294.00. Following the sale, the chief financial officer now directly owns 421,847 shares of the company’s stock, valued at $5,484,011. This represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,233,098 shares of company stock valued at $18,091,036 over the last 90 days. 36.30% of the stock is currently owned by insiders.

Weave Communications Stock Performance

Shares of WEAV opened at $15.95 on Friday. Weave Communications, Inc. has a one year low of $8.10 and a one year high of $16.56. The company has a market cap of $1.16 billion, a PE ratio of -39.88 and a beta of 2.00. The firm has a 50-day moving average of $14.57 and a 200-day moving average of $12.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Loop Capital boosted their price target on shares of Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group upped their target price on Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Piper Sandler raised their price target on Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus 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.