State Street Corp Acquires 155,054 Shares of Weave Communications, Inc. (NYSE:WEAV)

State Street Corp raised its holdings in shares of Weave Communications, Inc. (NYSE:WEAV) by 19.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 950,683 shares of the company’s stock after purchasing an additional 155,054 shares during the quarter. State Street Corp’s holdings in Weave Communications were worth $12,169,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. nVerses Capital LLC bought a new position in shares of Weave Communications in the 3rd quarter valued at about $45,000. Quarry LP bought a new stake in Weave Communications in the third quarter worth $45,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Weave Communications by 48.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company’s stock worth $90,000 after buying an additional 3,228 shares during the period. Private Management Group Inc. bought a new position in Weave Communications during the second quarter valued at $90,000. Finally, US Bancorp DE purchased a new stake in shares of Weave Communications in the third quarter valued at $107,000. 86.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WEAV has been the subject of a number of recent analyst reports. Piper Sandler lifted their price target on shares of Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Loop Capital raised their price target on Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their price objective on Weave Communications from $13.00 to $14.50 and gave the company a “neutral” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Weave Communications has a consensus rating of “Buy” and an average price target of $16.50.

Insider Buying and Selling

In other Weave Communications news, Director Blake G. Modersitzki sold 51,332 shares of Weave Communications stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $13.51, for a total value of $693,495.32. Following the transaction, the director now owns 306,852 shares in the company, valued at $4,145,570.52. The trade was a 14.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alan Taylor sold 22,356 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $13.00, for a total transaction of $290,628.00. Following the sale, the chief financial officer now directly owns 424,485 shares of the company’s stock, valued at approximately $5,518,305. The trade was a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,175,291 shares of company stock valued at $17,043,781 over the last quarter. 36.30% of the stock is owned by corporate insiders.

Weave Communications Price Performance

Shares of WEAV stock opened at $16.01 on Thursday. The company’s 50-day simple moving average is $14.20 and its two-hundred day simple moving average is $11.85. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59. Weave Communications, Inc. has a one year low of $8.10 and a one year high of $16.56. The company has a market capitalization of $1.17 billion, a P/E ratio of -40.03 and a beta of 2.00.

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.