Avanza Fonder AB Takes Position in Weave Communications, Inc. (NYSE:WEAV)

Avanza Fonder AB purchased a new stake in shares of Weave Communications, Inc. (NYSE:WEAV) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,006 shares of the company’s stock, valued at approximately $318,000.

Several other hedge funds have also added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in shares of Weave Communications in the 3rd quarter valued at $45,000. Quarry LP acquired a new position in Weave Communications in the third quarter valued at about $45,000. US Bancorp DE acquired a new position in Weave Communications in the third quarter valued at about $107,000. Dark Forest Capital Management LP bought a new position in Weave Communications during the second quarter worth about $134,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Weave Communications by 26.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,923 shares of the company’s stock worth $144,000 after buying an additional 3,315 shares during the period. Institutional investors own 86.83% of the company’s stock.

Weave Communications Stock Performance

Shares of WEAV stock opened at $15.76 on Monday. Weave Communications, Inc. has a 52 week low of $8.10 and a 52 week high of $16.56. The company has a 50-day simple moving average of $14.99 and a 200 day simple moving average of $12.70. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -39.39 and a beta of 1.92.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WEAV. Loop Capital raised their price objective on Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lifted 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, 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. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Weave Communications has an average rating of “Buy” and an average target price of $16.50.

Insiders Place Their Bets

In other Weave Communications news, Director Blake G. Modersitzki sold 120,551 shares of Weave Communications stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $13.90, for a total value of $1,675,658.90. Following the transaction, the director now owns 262,440 shares in the company, valued at $3,647,916. The trade was a 31.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Branden Neish sold 7,111 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $15.95, for a total transaction of $113,420.45. Following the completion of the transaction, the insider now directly owns 512,122 shares of the company’s stock, valued at approximately $8,168,345.90. The trade was a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,161,355 shares of company stock worth $17,124,720 in the last quarter. Corporate insiders own 36.30% of the company’s stock.

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.