Weave Communications, Inc. (NYSE:WEAV) Shares Bought by Verition Fund Management LLC

Verition Fund Management LLC raised its position in shares of Weave Communications, Inc. (NYSE:WEAV) by 71.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,600 shares of the company’s stock after acquiring an additional 11,546 shares during the quarter. Verition Fund Management LLC’s holdings in Weave Communications were worth $353,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WEAV. AXA S.A. acquired a new position in Weave Communications in the 2nd quarter valued at $11,590,000. Renaissance Technologies LLC grew its holdings in shares of Weave Communications by 17.8% during the second quarter. Renaissance Technologies LLC now owns 593,500 shares of the company’s stock worth $5,353,000 after buying an additional 89,600 shares in the last quarter. Pathway Capital Management LP acquired a new stake in shares of Weave Communications in the third quarter valued at about $7,308,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Weave Communications by 11.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 435,099 shares of the company’s stock worth $5,569,000 after buying an additional 45,475 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Weave Communications by 20.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 347,302 shares of the company’s stock worth $4,445,000 after acquiring an additional 58,359 shares during the last quarter. Hedge funds and other institutional investors own 86.83% of the company’s stock.

Insider Buying and Selling at Weave Communications

In other Weave Communications news, Director Blake G. Modersitzki sold 92,930 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $15.47, for a total transaction of $1,437,627.10. Following the completion of the transaction, the director now owns 207,979 shares of the company’s stock, valued at $3,217,435.13. This trade represents a 30.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Alan Taylor sold 8,710 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $14.12, for a total transaction of $122,985.20. Following the completion of the sale, the chief financial officer now directly owns 392,085 shares in the company, valued at $5,536,240.20. This trade represents a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,136,453 shares of company stock worth $16,275,529 over the last quarter. 36.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Weave Communications Stock Down 0.6 %

WEAV stock opened at $15.46 on Friday. The firm has a market cap of $1.13 billion, a PE ratio of -38.65 and a beta of 2.00. Weave Communications, Inc. has a one year low of $8.10 and a one year 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 firm’s 50 day moving average price is $13.77 and its 200-day moving average price is $11.43.

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.