Weave Communications, Inc. (NYSE:WEAV) Holdings Reduced by CenterBook Partners LP

CenterBook Partners LP lessened its holdings in shares of Weave Communications, Inc. (NYSE:WEAV) by 83.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,289 shares of the company’s stock after selling 189,181 shares during the period. CenterBook Partners LP’s holdings in Weave Communications were worth $610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Weave Communications by 5.8% in the 4th 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 in the last quarter. US Bancorp DE lifted its stake in shares of Weave Communications by 8.4% in the 4th quarter. US Bancorp DE now owns 9,053 shares of the company’s stock worth $144,000 after acquiring an additional 703 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of Weave Communications by 0.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 149,715 shares of the company’s stock valued at $2,383,000 after acquiring an additional 937 shares in the last quarter. Truvestments Capital LLC increased its stake in shares of Weave Communications by 4.9% during the fourth quarter. Truvestments Capital LLC now owns 24,576 shares of the company’s stock valued at $391,000 after acquiring an additional 1,154 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Weave Communications by 7.1% during the fourth quarter. Russell Investments Group Ltd. now owns 25,031 shares of the company’s stock worth $398,000 after purchasing an additional 1,658 shares in the last quarter. 86.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Weave Communications Price Performance

Shares of NYSE WEAV opened at $9.53 on Friday. The firm has a 50-day moving average of $12.73 and a two-hundred day moving average of $13.91. The company has a market capitalization of $704.12 million, a price-to-earnings ratio of -24.43 and a beta of 1.97. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09. Weave Communications, Inc. has a twelve month low of $8.10 and a twelve month high of $17.63.

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

Insider Buying and Selling

In related news, COO Marcus Bertilson sold 27,599 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $11.33, for a total value of $312,696.67. Following the completion of the transaction, the chief operating officer now owns 248,502 shares of the company’s stock, valued at approximately $2,815,527.66. This trade represents a 10.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Alan Taylor sold 31,262 shares of Weave Communications stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $11.16, for a total transaction of $348,883.92. Following the transaction, the chief financial officer now owns 247,484 shares in the company, valued at approximately $2,761,921.44. The trade was a 11.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 597,322 shares of company stock worth $8,642,847 in the last three months. 36.30% of the stock is currently owned by 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.