Franklin Resources Inc. Trims Stock Position in Weave Communications, Inc. (NYSE:WEAV)

Franklin Resources Inc. cut its holdings in Weave Communications, Inc. (NYSE:WEAV) by 1.6% during the third quarter, HoldingsChannel reports. The fund owned 87,841 shares of the company’s stock after selling 1,471 shares during the period. Franklin Resources Inc.’s holdings in Weave Communications were worth $1,149,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Raymond James & Associates grew its holdings in shares of Weave Communications by 102.2% during the 2nd quarter. Raymond James & Associates now owns 140,015 shares of the company’s stock worth $1,263,000 after purchasing an additional 70,771 shares during the period. Bank of New York Mellon Corp increased its position in shares of Weave Communications by 31.4% during the second quarter. Bank of New York Mellon Corp now owns 112,804 shares of the company’s stock valued at $1,017,000 after acquiring an additional 26,953 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Weave Communications during the second quarter valued at about $145,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Weave Communications by 48.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company’s stock valued at $90,000 after acquiring an additional 3,228 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Weave Communications by 14.5% in the 2nd quarter. Principal Financial Group Inc. now owns 37,558 shares of the company’s stock worth $339,000 after acquiring an additional 4,747 shares during the last quarter. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Alan Taylor sold 22,356 shares of Weave Communications stock in a transaction on Friday, October 4th. The shares were sold at an average price of $13.00, for a total transaction of $290,628.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Blake G. Modersitzki sold 15,718 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $13.49, for a total value of $212,035.82. Following the completion of the transaction, the director now owns 303,935 shares in the company, valued at approximately $4,100,083.15. The trade was a 4.92 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,259,750 shares of company stock worth $18,437,727. 36.30% of the stock is currently owned by company insiders.

Weave Communications Trading Up 0.2 %

WEAV opened at $16.12 on Friday. The business has a fifty day moving average price of $14.31 and a 200 day moving average price of $11.93. 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 12 month low of $8.10 and a 12 month high of $16.56. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -40.30 and a beta of 2.00.

Analyst Ratings Changes

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

Weave Communications 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.