Lord Abbett & CO. LLC Boosts Stake in Weave Communications, Inc. (NYSE:WEAV)

Lord Abbett & CO. LLC boosted its position in Weave Communications, Inc. (NYSE:WEAV) by 26.0% in the 4th quarter, Holdings Channel reports. The firm owned 1,100,179 shares of the company’s stock after buying an additional 226,768 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Weave Communications were worth $17,515,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Amundi bought a new stake in shares of Weave Communications during the 4th quarter worth approximately $66,000. Summit Investment Advisors Inc. increased its stake in Weave Communications by 28.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company’s stock worth $66,000 after purchasing an additional 928 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Weave Communications during the fourth quarter worth $131,000. US Bancorp DE boosted its stake in shares of Weave Communications by 8.4% during the fourth quarter. US Bancorp DE now owns 9,053 shares of the company’s stock valued at $144,000 after purchasing an additional 703 shares during the period. Finally, Cerity Partners LLC purchased a new stake in shares of Weave Communications during the fourth quarter valued at $159,000. Hedge funds and other institutional investors own 86.83% of the company’s stock.

Weave Communications Trading Up 4.4 %

NYSE:WEAV opened at $10.43 on Friday. The firm has a 50-day simple moving average of $11.17 and a 200-day simple moving average of $13.68. Weave Communications, Inc. has a one year low of $8.10 and a one year high of $17.63. The firm has a market cap of $781.21 million, a P/E ratio of -26.74 and a beta of 1.97. 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 (NYSE:WEAV) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). The business had revenue of $54.17 million during the quarter, compared to the consensus estimate of $53.23 million. Weave Communications had a negative return on equity of 28.37% and a negative net margin of 13.87%. Equities analysts anticipate that Weave Communications, Inc. will post -0.33 EPS for the current fiscal year.

Analyst Ratings Changes

WEAV has been the subject of a number of research analyst reports. Piper Sandler decreased their price objective on shares of Weave Communications from $17.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday. Stifel Nicolaus decreased 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 note on Thursday. Finally, Raymond James reissued a “strong-buy” rating and issued a $20.00 price objective (up previously from $17.00) on shares of Weave Communications in a research note on Friday, February 21st. One equities research 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $16.50.

Insider Buying and Selling

In related news, Director Blake G. Modersitzki sold 5,485 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $17.45, for a total transaction of $95,713.25. Following the completion of the sale, the director now owns 188,441 shares of the company’s stock, valued at $3,288,295.45. This represents a 2.83 % 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, CEO Brett T. White sold 109,722 shares of Weave Communications stock in a transaction on Monday, March 17th. The stock was sold at an average price of $11.26, for a total transaction of $1,235,469.72. Following the completion of the transaction, the chief executive officer now directly owns 1,790,435 shares in the company, valued at $20,160,298.10. This represents a 5.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 595,028 shares of company stock worth $8,606,000 in the last three months. 18.40% of the stock is owned by insiders.

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.