16,102 Shares in Weave Communications, Inc. (NYSE:WEAV) Bought by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC acquired a new position in shares of Weave Communications, Inc. (NYSE:WEAV) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,102 shares of the company’s stock, valued at approximately $185,000.

Several other hedge funds and other institutional investors have also modified their holdings of WEAV. BlackRock Inc. raised its holdings in shares of Weave Communications by 557.8% during the third quarter. BlackRock Inc. now owns 1,601,556 shares of the company’s stock worth $8,088,000 after acquiring an additional 1,358,074 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Weave Communications by 896.6% during the third quarter. Bank of New York Mellon Corp now owns 937,604 shares of the company’s stock valued at $7,641,000 after buying an additional 843,526 shares in the last quarter. Vanguard Group Inc. raised its holdings in Weave Communications by 37.9% during the third quarter. Vanguard Group Inc. now owns 2,942,793 shares of the company’s stock valued at $23,984,000 after buying an additional 808,248 shares in the last quarter. Morgan Stanley raised its holdings in Weave Communications by 41.6% during the third quarter. Morgan Stanley now owns 2,111,526 shares of the company’s stock valued at $17,209,000 after buying an additional 620,591 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in Weave Communications by 142.9% during the third quarter. Lord Abbett & CO. LLC now owns 1,042,961 shares of the company’s stock valued at $8,500,000 after buying an additional 613,649 shares in the last quarter. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

Weave Communications Stock Down 1.5 %

NYSE WEAV opened at $10.81 on Friday. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average is $11.84 and its two-hundred day moving average is $10.57. Weave Communications, Inc. has a 1-year low of $4.04 and a 1-year high of $13.80.

Weave Communications (NYSE:WEAV) last posted its earnings results on Wednesday, February 21st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. Weave Communications had a negative net margin of 18.20% and a negative return on equity of 31.93%. The company had revenue of $45.69 million during the quarter, compared to analysts’ expectations of $44.24 million. As a group, equities analysts expect that Weave Communications, Inc. will post -0.37 EPS for the current year.

Insider Activity

In other news, CFO Alan Taylor sold 15,000 shares of Weave Communications stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $12.00, for a total value of $180,000.00. Following the completion of the transaction, the chief financial officer now owns 480,813 shares in the company, valued at $5,769,756. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 41.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WEAV. Stifel Nicolaus raised their target price on Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $15.00 price target on shares of Weave Communications in a research report on Thursday, February 22nd. Finally, Raymond James raised Weave Communications from an “outperform” rating to a “strong-buy” rating and set a $15.00 price target on the stock in a research report on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

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.