Driehaus Capital Management LLC Increases Stock Position in Weave Communications, Inc. (NYSE:WEAV)

Driehaus Capital Management LLC increased its stake in shares of Weave Communications, Inc. (NYSE:WEAV) by 57.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 855,502 shares of the company’s stock after purchasing an additional 313,618 shares during the period. Driehaus Capital Management LLC’s holdings in Weave Communications were worth $13,620,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Weave Communications by 5.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,903 shares of the company’s stock worth $174,000 after purchasing an additional 597 shares during the period. MetLife Investment Management LLC grew its holdings in shares of Weave Communications by 2.6% in the fourth quarter. MetLife Investment Management LLC now owns 24,387 shares of the company’s stock worth $388,000 after acquiring an additional 620 shares during the period. US Bancorp DE increased its position in 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 acquiring an additional 703 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in Weave Communications by 28.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company’s stock valued at $66,000 after acquiring an additional 928 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its position in Weave Communications by 0.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 149,715 shares of the company’s stock worth $2,383,000 after purchasing an additional 937 shares during the last quarter. Institutional investors own 86.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of Weave Communications from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Piper Sandler upped their price objective on Weave Communications from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Raymond James cut their price target on Weave Communications from $20.00 to $17.00 and set a “strong-buy” rating for the company in a report on Tuesday, April 29th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $16.10.

Weave Communications Price Performance

NYSE:WEAV opened at $10.44 on Friday. The stock has a market cap of $781.96 million, a PE ratio of -26.77 and a beta of 1.97. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The business’s 50-day simple moving average is $10.53 and its two-hundred day simple moving average is $13.48. Weave Communications, Inc. has a 52 week low of $8.18 and a 52 week high of $17.63.

Weave Communications (NYSE:WEAV) last posted its quarterly earnings results 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 business had revenue of $55.81 million during the quarter, compared to the consensus estimate of $54.72 million. Weave Communications had a negative return on equity of 28.37% and a negative net margin of 13.87%. As a group, analysts forecast that Weave Communications, Inc. will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling at Weave Communications

In other news, CEO Brett T. White sold 54,051 shares of the business’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 sale, the chief executive officer now directly owns 2,086,384 shares in the company, valued at $21,343,708.32. The trade was a 2.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Alan Taylor sold 31,262 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $11.16, for a total transaction of $348,883.92. Following the completion of the transaction, the chief financial officer now directly owns 247,484 shares of the company’s stock, valued at approximately $2,761,921.44. The trade was a 11.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 443,780 shares of company stock worth $5,685,893. Insiders own 18.40% of the company’s stock.

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.