Cerity Partners LLC Acquires 5,540 Shares of Weave Communications, Inc. (NYSE:WEAV)

Cerity Partners LLC boosted its holdings in Weave Communications, Inc. (NYSE:WEAV) by 55.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,542 shares of the company’s stock after acquiring an additional 5,540 shares during the quarter. Cerity Partners LLC’s holdings in Weave Communications were worth $172,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Values First Advisors Inc. bought a new position in shares of Weave Communications during the 1st quarter valued at $128,000. Bank of New York Mellon Corp lifted its holdings in shares of Weave Communications by 474.5% during the 1st quarter. Bank of New York Mellon Corp now owns 570,810 shares of the company’s stock valued at $6,330,000 after buying an additional 471,446 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Weave Communications by 31.7% during the 1st quarter. Teacher Retirement System of Texas now owns 52,172 shares of the company’s stock valued at $579,000 after buying an additional 12,566 shares during the period. Oppenheimer & Co. Inc. bought a new position in shares of Weave Communications during the 1st quarter valued at $186,000. Finally, Rhumbline Advisers lifted its holdings in shares of Weave Communications by 9.1% during the 1st quarter. Rhumbline Advisers now owns 55,109 shares of the company’s stock valued at $611,000 after buying an additional 4,594 shares during the period. 86.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Weave Communications news, CEO Brett T. White sold 53,111 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $8.59, for a total value of $456,223.49. Following the completion of the sale, the chief executive officer owned 2,004,136 shares in the company, valued at approximately $17,215,528.24. This represents a 2.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Joseph David Mcneil sold 14,302 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $8.53, for a total value of $121,996.06. Following the completion of the sale, the executive owned 409,060 shares of the company’s stock, valued at $3,489,281.80. The trade was a 3.38% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,294 shares of company stock worth $739,723. 18.40% of the stock is currently owned by corporate insiders.

Weave Communications Price Performance

Shares of Weave Communications stock opened at $7.63 on Wednesday. Weave Communications, Inc. has a one year low of $7.25 and a one year high of $17.63. The stock’s fifty day moving average is $8.70 and its 200 day moving average is $11.24. The stock has a market cap of $573.85 million, a P/E ratio of -18.62 and a beta of 1.76. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.60 and a current ratio of 1.60.

Weave Communications (NYSE:WEAV) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.12). Weave Communications had a negative return on equity of 31.08% and a negative net margin of 14.07%. The business had revenue of $55.81 million during the quarter, compared to analysts’ expectations of $54.72 million. Sell-side analysts anticipate that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Stifel Nicolaus lowered their price target on Weave Communications from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Raymond James Financial decreased their target price on Weave Communications from $20.00 to $17.00 and set a “strong-buy” rating on the stock in a report on Tuesday, April 29th. Finally, Piper Sandler raised their target price on Weave Communications from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $16.10.

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.