Weave Communications, Inc. (NYSE:WEAV) Shares Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. lifted its stake in shares of Weave Communications, Inc. (NYSE:WEAV) by 73.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,396 shares of the company’s stock after purchasing an additional 12,900 shares during the quarter. Point72 Asset Management L.P.’s holdings in Weave Communications were worth $389,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in shares of Weave Communications in the third quarter worth approximately $45,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Weave Communications by 48.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company’s stock valued at $90,000 after purchasing an additional 3,228 shares in the last quarter. Private Management Group Inc. purchased a new stake in shares of Weave Communications during the 2nd quarter valued at about $90,000. US Bancorp DE purchased a new position in Weave Communications in the third quarter valued at about $107,000. Finally, Dark Forest Capital Management LP acquired a new stake in Weave Communications in the second quarter valued at $134,000. 86.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WEAV. Loop Capital upped their price objective on Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Piper Sandler raised their price target on shares of Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group lifted their target price on shares of Weave Communications from $13.00 to $14.50 and gave the company a “neutral” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Weave Communications presently has an average rating of “Buy” and a consensus target price of $16.50.

Insider Activity

In other Weave Communications news, CFO Alan Taylor sold 24,499 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $12.58, for a total transaction of $308,197.42. Following the transaction, the chief financial officer now owns 451,442 shares in the company, valued at $5,679,140.36. This trade represents a 5.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Blake G. Modersitzki sold 242,820 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $14.38, for a total transaction of $3,491,751.60. Following the sale, the director now owns 244,616 shares in the company, valued at $3,517,578.08. The trade was a 49.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 851,257 shares of company stock valued at $11,905,846 in the last 90 days. 36.30% of the stock is owned by company insiders.

Weave Communications Stock Up 0.9 %

NYSE:WEAV opened at $15.54 on Friday. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -38.85 and a beta of 2.00. Weave Communications, Inc. has a 52-week low of $8.10 and a 52-week high of $15.93. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59. The stock’s fifty day moving average price is $13.72 and its two-hundred day moving average price is $11.38.

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.