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

Arrowstreet Capital Limited Partnership grew its stake in shares of Weave Communications, Inc. (NYSE:WEAV) by 202.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,650,760 shares of the company’s stock after purchasing an additional 1,105,728 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Weave Communications were worth $26,280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Weave Communications during the 4th quarter valued at $14,984,000. Vanguard Group Inc. raised its stake in shares of Weave Communications by 23.5% during 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 last quarter. Pathway Capital Management LP grew its stake in shares of Weave Communications by 136.3% in the fourth quarter. Pathway Capital Management LP now owns 1,349,365 shares of the company’s stock worth $21,482,000 after purchasing an additional 778,413 shares during the last quarter. Norges Bank purchased a new position in Weave Communications during the 4th quarter valued at about $5,219,000. Finally, Lord Abbett & CO. LLC raised its position in Weave Communications by 37.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 873,411 shares of the company’s stock valued at $11,180,000 after purchasing an additional 239,202 shares during the last quarter. Institutional investors own 86.83% of the company’s stock.

Weave Communications Price Performance

Shares of NYSE WEAV opened at $11.07 on Thursday. Weave Communications, Inc. has a 1 year low of $8.10 and a 1 year high of $17.63. The stock has a market capitalization of $818.07 million, a P/E ratio of -28.38 and a beta of 1.96. The company’s 50-day moving average is $13.91 and its 200 day moving average is $14.05. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59.

Weave Communications (NYSE:WEAV) last announced its 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). Weave Communications had a negative return on equity of 28.37% and a negative net margin of 13.87%. The firm had revenue of $54.17 million during the quarter, compared to the consensus estimate of $53.23 million. On average, sell-side analysts expect that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Weave Communications

In related news, CFO Alan Taylor sold 31,262 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $11.16, for a total value of $348,883.92. Following the sale, the chief financial officer now owns 247,484 shares in the company, valued at $2,761,921.44. This represents a 11.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Brett T. White sold 54,778 shares of Weave Communications stock in a transaction on Monday, January 27th. The shares were sold at an average price of $15.86, for a total value of $868,779.08. Following the transaction, the chief executive officer now owns 1,928,364 shares of the company’s stock, valued at $30,583,853.04. The trade was a 2.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 597,322 shares of company stock valued at $8,642,847. 36.30% of the stock is currently owned by company insiders.

Weave Communications Company 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.