Arrowstreet Capital Limited Partnership Increases Stock Position in Weave Communications, Inc. (NYSE:WEAV)

Arrowstreet Capital Limited Partnership boosted its holdings in Weave Communications, Inc. (NYSE:WEAV) by 202.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,650,760 shares of the company’s stock after buying an additional 1,105,728 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 2.27% of Weave Communications worth $26,280,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of WEAV. Norges Bank bought a new position in shares of Weave Communications in the fourth quarter worth $5,219,000. JPMorgan Chase & Co. grew its holdings in Weave Communications by 26.8% during the 4th quarter. JPMorgan Chase & Co. now owns 183,406 shares of the company’s stock valued at $2,920,000 after buying an additional 38,729 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Weave Communications by 5.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,903 shares of the company’s stock valued at $174,000 after buying an additional 597 shares during the period. EntryPoint Capital LLC lifted its holdings in shares of Weave Communications by 114.6% in the fourth quarter. EntryPoint Capital LLC now owns 27,514 shares of the company’s stock worth $438,000 after buying an additional 14,693 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Weave Communications by 23.5% in the fourth quarter. Vanguard Group Inc. now owns 4,536,462 shares of the company’s stock valued at $72,220,000 after acquiring an additional 863,547 shares during the period. Institutional investors own 86.83% of the company’s stock.

Weave Communications Price Performance

Shares of NYSE WEAV opened at $11.07 on Thursday. The stock’s 50-day simple moving average is $13.91 and its two-hundred day simple moving average is $14.05. Weave Communications, Inc. has a twelve month low of $8.10 and a twelve month high of $17.63. The firm has a market capitalization of $818.07 million, a P/E ratio of -28.38 and a beta of 1.96. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09.

Weave Communications (NYSE:WEAV) last announced its earnings results on Thursday, February 20th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. The company had revenue of $54.17 million during the quarter, compared to analysts’ expectations of $53.23 million. As a group, equities analysts anticipate that Weave Communications, Inc. will post -0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Raymond James reaffirmed a “strong-buy” rating and set a $20.00 target price (up previously from $17.00) on shares of Weave Communications in a report on Friday, February 21st.

Insider Transactions at Weave Communications

In related news, CEO Brett T. White sold 109,722 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $11.26, for a total transaction of $1,235,469.72. Following the transaction, the chief executive officer now directly owns 1,790,435 shares of the company’s stock, valued at approximately $20,160,298.10. This trade represents a 5.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Marcus Bertilson sold 27,599 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $11.33, for a total value of $312,696.67. Following the completion of the sale, the chief operating officer now owns 248,502 shares of the company’s stock, valued at $2,815,527.66. The trade was a 10.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 597,322 shares of company stock valued at $8,642,847. Insiders own 36.30% of the company’s stock.

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.