AlphaQuest LLC purchased a new position in shares of Weave Communications, Inc. (NYSE:WEAV – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 26,026 shares of the company’s stock, valued at approximately $414,000.
A number of other large investors have also made changes to their positions in WEAV. Quarry LP acquired a new stake in Weave Communications in the third quarter valued at $45,000. Amundi purchased a new stake in shares of Weave Communications in the 4th quarter worth about $66,000. US Bancorp DE acquired a new stake in Weave Communications in the 3rd quarter valued at about $107,000. Los Angeles Capital Management LLC purchased a new position in Weave Communications during the 4th quarter valued at about $162,000. Finally, PDT Partners LLC acquired a new position in Weave Communications during the third quarter worth about $200,000. Hedge funds and other institutional investors own 86.83% of the company’s stock.
Insider Activity
In related news, CFO Alan Taylor sold 4,182 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $16.03, for a total transaction of $67,037.46. Following the completion of the transaction, the chief financial officer now owns 283,516 shares of the company’s stock, valued at approximately $4,544,761.48. This represents a 1.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Blake G. Modersitzki sold 74,756 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $17.49, for a total transaction of $1,307,482.44. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 512,987 shares of company stock valued at $8,501,339 over the last quarter. Company insiders own 36.30% of the company’s stock.
Weave Communications Stock Down 4.2 %
Weave Communications (NYSE:WEAV – Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.12). The firm had revenue of $54.17 million for the quarter, compared to analyst estimates of $53.23 million. Weave Communications had a negative return on equity of 28.37% and a negative net margin of 13.87%. As a group, equities research analysts anticipate that Weave Communications, Inc. will post -0.33 EPS for the current fiscal year.
Analysts Set New Price Targets
Separately, Raymond James reiterated a “strong-buy” rating and issued a $20.00 price target (up from $17.00) on shares of Weave Communications in a research report on Friday, February 21st.
Read Our Latest Analysis on WEAV
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.
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