Weave Communications, Inc. (NYSE:WEAV) Stock Holdings Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in Weave Communications, Inc. (NYSE:WEAV) by 13.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,677 shares of the company’s stock after purchasing an additional 17,530 shares during the quarter. JPMorgan Chase & Co.’s holdings in Weave Communications were worth $1,852,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Point72 Asset Management L.P. boosted its stake in shares of Weave Communications by 5.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 17,496 shares of the company’s stock worth $158,000 after acquiring an additional 896 shares in the last quarter. Truvestments Capital LLC boosted its stake in shares of Weave Communications by 11.4% during the 3rd quarter. Truvestments Capital LLC now owns 23,422 shares of the company’s stock worth $300,000 after acquiring an additional 2,405 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Weave Communications by 3.8% during the 2nd quarter. AQR Capital Management LLC now owns 68,687 shares of the company’s stock worth $620,000 after acquiring an additional 2,516 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Weave Communications by 26.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,923 shares of the company’s stock worth $144,000 after acquiring an additional 3,315 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Weave Communications during the 3rd quarter worth about $45,000. Hedge funds and other institutional investors own 86.83% of the company’s stock.

Weave Communications Price Performance

NYSE WEAV opened at $15.85 on Thursday. Weave Communications, Inc. has a twelve month low of $8.10 and a twelve month high of $16.56. 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 has a market capitalization of $1.15 billion, a PE ratio of -39.62 and a beta of 1.92. The stock has a 50-day simple moving average of $15.10 and a 200 day simple moving average of $12.81.

Weave Communications (NYSE:WEAV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.08) EPS for the quarter. The firm had revenue of $52.39 million during the quarter, compared to analyst estimates of $51.47 million. Weave Communications had a negative net margin of 14.64% and a negative return on equity of 28.01%. During the same period last year, the company earned ($0.10) EPS. Research analysts anticipate that Weave Communications, Inc. will post -0.38 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on WEAV. The Goldman Sachs Group upped their price target on Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Piper Sandler upped their price target on Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Loop Capital upped their price target on Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $16.50.

Insider Buying and Selling at Weave Communications

In other news, Director Blake G. Modersitzki sold 84,764 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $16.49, for a total value of $1,397,758.36. Following the sale, the director now directly owns 201,975 shares in the company, valued at approximately $3,330,567.75. This represents a 29.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Alan Taylor sold 8,710 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $14.12, for a total value of $122,985.20. Following the sale, the chief financial officer now owns 392,085 shares in the company, valued at approximately $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 sold a total of 1,161,355 shares of company stock valued at $17,124,720 in the last quarter. Corporate insiders own 36.30% of the company’s stock.

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.