Point72 Asset Management L.P. Grows Stake in Weave Communications, Inc. (NYSE:WEAV)

Point72 Asset Management L.P. raised its stake in Weave Communications, Inc. (NYSE:WEAV) by 76.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,602 shares of the company’s stock after purchasing an additional 23,206 shares during the quarter. Point72 Asset Management L.P. owned about 0.07% of Weave Communications worth $853,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC increased its position in shares of Weave Communications by 31.9% during the third quarter. Barclays PLC now owns 223,503 shares of the company’s stock worth $2,861,000 after acquiring an additional 54,019 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Weave Communications by 13.8% during the third quarter. JPMorgan Chase & Co. now owns 144,677 shares of the company’s stock worth $1,852,000 after acquiring an additional 17,530 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Weave Communications by 103.8% during the fourth quarter. SG Americas Securities LLC now owns 30,752 shares of the company’s stock worth $490,000 after acquiring an additional 15,660 shares during the last quarter. Gagnon Securities LLC purchased a new stake in shares of Weave Communications during the fourth quarter worth about $524,000. Finally, Principal Financial Group Inc. increased its position in shares of Weave Communications by 33.0% during the fourth quarter. Principal Financial Group Inc. now owns 119,351 shares of the company’s stock worth $1,900,000 after acquiring an additional 29,583 shares during the last quarter. 86.83% of the stock is owned by hedge funds and other institutional investors.

Weave Communications Stock Up 0.2%

NYSE:WEAV opened at $9.71 on Friday. The company has a market capitalization of $730.09 million, a price-to-earnings ratio of -24.90 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 stock has a 50-day simple moving average of $10.37 and a 200 day simple moving average of $13.30. 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 posted its quarterly earnings results on Monday, May 5th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.12). The firm had revenue of $55.81 million during the quarter, compared to analyst estimates of $54.72 million. Weave Communications had a negative return on equity of 28.37% and a negative net margin of 13.87%. Sell-side analysts predict that Weave Communications, Inc. will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling

In other Weave Communications news, CEO Brett T. White sold 54,051 shares of Weave Communications stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $10.23, for a total value of $552,941.73. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Branden Neish sold 25,510 shares of Weave Communications stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $11.33, for a total value of $289,028.30. Following the completion of the transaction, the insider now owns 460,908 shares of the company’s stock, valued at approximately $5,222,087.64. The trade was a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 320,014 shares of company stock worth $3,522,274. Corporate insiders own 18.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WEAV shares. Raymond James dropped their target price on Weave Communications from $20.00 to $17.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, April 29th. Piper Sandler lifted their target price on Weave Communications from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Finally, Stifel Nicolaus dropped their target price on Weave Communications from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. One 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. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price 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.