Driehaus Capital Management LLC Purchases 313,618 Shares of Weave Communications, Inc. (NYSE:WEAV)

Driehaus Capital Management LLC raised its holdings in shares of Weave Communications, Inc. (NYSE:WEAV) by 57.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 855,502 shares of the company’s stock after acquiring an additional 313,618 shares during the period. Driehaus Capital Management LLC owned about 1.18% of Weave Communications worth $13,620,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake 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 worth $174,000 after purchasing an additional 597 shares during the period. MetLife Investment Management LLC increased its stake in shares of Weave Communications by 2.6% in the fourth quarter. MetLife Investment Management LLC now owns 24,387 shares of the company’s stock worth $388,000 after buying an additional 620 shares during the period. US Bancorp DE raised its holdings in Weave Communications by 8.4% during the 4th quarter. US Bancorp DE now owns 9,053 shares of the company’s stock valued at $144,000 after buying an additional 703 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in Weave Communications by 28.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company’s stock valued at $66,000 after buying an additional 928 shares during the period. Finally, Harbor Capital Advisors Inc. grew its holdings in Weave Communications by 0.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 149,715 shares of the company’s stock worth $2,383,000 after acquiring an additional 937 shares during the last quarter. 86.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WEAV has been the subject of a number of analyst reports. Raymond James dropped their target price on shares of Weave Communications from $20.00 to $17.00 and set a “strong-buy” rating for the company in a report on Tuesday, April 29th. Stifel Nicolaus cut their price objective on Weave Communications from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, Piper Sandler upped their target price on Weave Communications from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $16.10.

Insider Activity at Weave Communications

In other Weave Communications news, CEO Brett T. White sold 54,051 shares of Weave Communications stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $10.23, for a total value of $552,941.73. Following the completion of the transaction, the chief executive officer now directly owns 2,086,384 shares of the company’s stock, valued at approximately $21,343,708.32. The trade was a 2.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Blake G. Modersitzki sold 6,230 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $17.45, for a total transaction of $108,713.50. Following the sale, the director now owns 188,042 shares in the company, valued at approximately $3,281,332.90. The trade was a 3.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 443,780 shares of company stock valued at $5,685,893 in the last three months. Company insiders own 18.40% of the company’s stock.

Weave Communications Stock Performance

Weave Communications stock opened at $10.44 on Friday. Weave Communications, Inc. has a fifty-two week low of $8.18 and a fifty-two week high of $17.63. The stock has a market cap of $781.96 million, a price-to-earnings ratio of -26.77 and a beta of 1.97. The stock’s 50 day simple moving average is $10.53 and its two-hundred day simple moving average is $13.48. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59.

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

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.