Aquatic Capital Management LLC Buys New Position in Weave Communications, Inc. (NYSE:WEAV)

Aquatic Capital Management LLC purchased a new stake in Weave Communications, Inc. (NYSE:WEAV) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,154 shares of the company’s stock, valued at approximately $34,000.

Other large investors also recently made changes to their positions in the company. Wasatch Advisors LP lifted its stake in Weave Communications by 38.4% during the fourth quarter. Wasatch Advisors LP now owns 5,205,665 shares of the company’s stock valued at $82,874,000 after purchasing an additional 1,444,828 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Weave Communications by 202.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,650,760 shares of the company’s stock valued at $26,280,000 after acquiring an additional 1,105,728 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Weave Communications during the 4th quarter worth $14,984,000. Voya Investment Management LLC grew its holdings in shares of Weave Communications by 509.2% in the 4th quarter. Voya Investment Management LLC now owns 1,099,255 shares of the company’s stock worth $17,500,000 after acquiring an additional 918,804 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Weave Communications by 23.5% during the fourth quarter. Vanguard Group Inc. now owns 4,536,462 shares of the company’s stock worth $72,220,000 after purchasing an additional 863,547 shares during the period. Institutional investors own 86.83% of the company’s stock.

Weave Communications Trading Down 11.4 %

Shares of NYSE WEAV opened at $9.48 on Wednesday. The firm has a market capitalization of $709.68 million, a PE ratio of -24.29 and a beta of 1.97. Weave Communications, Inc. has a one year low of $8.18 and a one year high of $17.63. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average price of $10.64 and a two-hundred day moving average price of $13.55.

Weave Communications (NYSE:WEAV) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.12). The company had revenue of $55.81 million during the quarter, compared to analyst estimates of $54.72 million. Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. As a group, analysts predict that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Weave Communications

In related news, Director Blake G. Modersitzki sold 74,756 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $17.49, for a total value of $1,307,482.44. Following the completion of the sale, the director now directly owns 179,153 shares in the company, valued at approximately $3,133,385.97. This represents a 29.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Brett T. White sold 54,051 shares of the firm’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $10.23, for a total value of $552,941.73. Following the transaction, the chief executive officer now owns 2,086,384 shares in the company, valued at approximately $21,343,708.32. This trade represents a 2.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 449,265 shares of company stock worth $5,781,607 over the last 90 days. 18.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on WEAV. Raymond James decreased their price target on Weave Communications from $20.00 to $17.00 and set a “strong-buy” rating for the company in a research report on Tuesday, April 29th. Piper Sandler lifted their target price on shares of Weave Communications from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Stifel Nicolaus reduced their price target on shares of Weave Communications from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $16.10.

Weave Communications 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.