Millennium Management LLC Has $15.68 Million Stock Position in Weave Communications, Inc. (NYSE:WEAV)

Millennium Management LLC boosted its position in Weave Communications, Inc. (NYSE:WEAV) by 176.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 985,018 shares of the company’s stock after purchasing an additional 628,705 shares during the period. Millennium Management LLC’s holdings in Weave Communications were worth $15,681,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of WEAV. Aquatic Capital Management LLC acquired a new stake in Weave Communications in the 4th quarter valued at about $34,000. Amundi acquired a new stake in Weave Communications in the 4th quarter valued at about $66,000. Summit Investment Advisors Inc. lifted its stake in Weave Communications by 28.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company’s stock valued at $66,000 after purchasing an additional 928 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Weave Communications in the 4th quarter valued at about $131,000. Finally, US Bancorp DE lifted its stake in Weave Communications by 8.4% in the 4th 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 last quarter. 86.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Weave Communications

In other news, CEO Brett T. White sold 54,051 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $10.23, for a total transaction of $552,941.73. Following the transaction, the chief executive officer now directly owns 2,086,384 shares of the company’s stock, valued at approximately $21,343,708.32. This trade represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alan Taylor sold 31,262 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $11.16, for a total transaction of $348,883.92. Following the transaction, the chief financial officer now directly owns 247,484 shares in the company, valued at $2,761,921.44. This represents a 11.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 320,014 shares of company stock valued at $3,522,274. 18.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WEAV. Piper Sandler raised their target price on shares of Weave Communications from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Stifel Nicolaus cut their price objective 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. Finally, Raymond James cut their price objective on shares of 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. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $16.10.

Weave Communications Trading Up 0.2%

Shares of WEAV stock opened at $9.71 on Friday. The firm has a 50 day moving average price of $10.37 and a two-hundred day moving average price of $13.30. 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 company has a market capitalization of $730.09 million, a PE ratio of -24.90 and a beta of 1.97. Weave Communications, Inc. has a 12-month low of $8.18 and a 12-month high of $17.63.

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

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.