Oppenheimer & Co. Inc. Invests $186,000 in Weave Communications, Inc. (NYSE:WEAV)

Oppenheimer & Co. Inc. bought a new position in shares of Weave Communications, Inc. (NYSE:WEAV) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,793 shares of the company’s stock, valued at approximately $186,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Aquatic Capital Management LLC purchased a new stake in shares of Weave Communications during the fourth quarter worth about $34,000. Amundi purchased a new stake in shares of Weave Communications during the fourth quarter worth about $66,000. Summit Investment Advisors Inc. increased its stake in shares of Weave Communications by 28.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company’s stock worth $66,000 after purchasing an additional 928 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Weave Communications during the fourth quarter worth about $131,000. Finally, US Bancorp DE boosted its position in 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 during the last quarter. Hedge funds and other institutional investors own 86.83% of the company’s stock.

Weave Communications Stock Performance

WEAV opened at $8.75 on Friday. The firm has a market capitalization of $657.47 million, a PE ratio of -21.33 and a beta of 1.76. Weave Communications, Inc. has a twelve month low of $7.91 and a twelve month high of $17.63. The firm’s 50-day moving average price is $9.57 and its 200 day moving average price is $12.23. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.10.

Weave Communications (NYSE:WEAV) last posted its 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 analyst estimates of $54.72 million. Weave Communications had a negative net margin of 14.07% and a negative return on equity of 31.08%. As a group, sell-side analysts expect that Weave Communications, Inc. will post -0.33 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of Weave Communications from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Raymond James Financial lowered their price target on shares of Weave Communications from $20.00 to $17.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, April 29th. Finally, Stifel Nicolaus lowered their price target on shares of Weave Communications from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. One 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. Based on data from MarketBeat.com, Weave Communications currently has an average rating of “Buy” and a consensus target price of $16.10.

Insider Buying and Selling

In other Weave Communications news, insider Branden Neish sold 20,232 shares of the business’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $10.23, for a total value of $206,973.36. Following the transaction, the insider directly owned 526,011 shares in the company, valued at $5,381,092.53. The trade was a 3.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Erin Goodsell sold 7,472 shares of the business’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $8.59, for a total transaction of $64,184.48. Following the completion of the transaction, the insider owned 584,657 shares in the company, valued at $5,022,203.63. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 160,577 shares of company stock worth $1,499,638 over the last ninety days. 18.40% of the stock is currently owned by 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.