G2 Investment Partners Management LLC Decreases Stake in Weave Communications, Inc. (NYSE:WEAV)

G2 Investment Partners Management LLC cut its holdings in Weave Communications, Inc. (NYSE:WEAV) by 92.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 39,360 shares of the company’s stock after selling 475,658 shares during the period. G2 Investment Partners Management LLC’s holdings in Weave Communications were worth $627,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Aquatic Capital Management LLC purchased a new stake in Weave Communications during the fourth quarter valued at about $34,000. Summit Investment Advisors Inc. boosted its stake in Weave Communications by 28.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company’s stock worth $66,000 after buying an additional 928 shares in the last quarter. Amundi bought a new position in Weave Communications during the fourth quarter valued at approximately $66,000. KLP Kapitalforvaltning AS purchased a new position in shares of Weave Communications during the fourth quarter worth approximately $131,000. Finally, US Bancorp DE raised its stake in shares of Weave Communications by 8.4% during the fourth quarter. US Bancorp DE now owns 9,053 shares of the company’s stock worth $144,000 after acquiring an additional 703 shares in the last quarter. Hedge funds and other institutional investors own 86.83% of the company’s stock.

Weave Communications Stock Performance

Shares of Weave Communications stock opened at $10.47 on Friday. The business has a fifty day simple moving average of $10.56 and a two-hundred day simple moving average of $13.50. The firm has a market capitalization of $784.28 million, a P/E ratio of -26.85 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 12 month low of $8.18 and a 12 month high of $17.63.

Weave Communications (NYSE:WEAV) last announced its earnings results on Monday, May 5th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.12). Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. The business had revenue of $55.81 million for the quarter, compared to the consensus estimate of $54.72 million. On average, equities analysts forecast that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WEAV has been the topic of several recent research reports. Raymond James reduced their target price on shares of Weave Communications from $20.00 to $17.00 and set a “strong-buy” rating on the stock in a report on Tuesday, April 29th. Piper Sandler raised their price objective on Weave Communications from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Stifel Nicolaus lowered their target price on Weave Communications from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. One 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $16.10.

Insider Activity

In other news, insider Branden Neish sold 20,232 shares of the firm’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $10.23, for a total value of $206,973.36. Following the transaction, the insider now directly owns 526,011 shares in the company, valued at $5,381,092.53. This trade represents a 3.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Blake G. Modersitzki sold 6,230 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $17.45, for a total value of $108,713.50. Following the sale, the director now owns 188,042 shares of the company’s stock, valued at approximately $3,281,332.90. This trade represents a 3.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 443,780 shares of company stock worth $5,685,893 over the last three months. 18.40% of the stock is currently owned by corporate 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.