Weave Communications, Inc. (NYSE:WEAV) is Pathway Capital Management LP’s 2nd Largest Position

Pathway Capital Management LP lifted its position in Weave Communications, Inc. (NYSE:WEAV) by 136.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,349,365 shares of the company’s stock after purchasing an additional 778,413 shares during the period. Weave Communications comprises 21.4% of Pathway Capital Management LP’s portfolio, making the stock its 2nd largest holding. Pathway Capital Management LP’s holdings in Weave Communications were worth $21,482,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James & Associates grew its stake in Weave Communications by 66.8% during the third quarter. Raymond James & Associates now owns 233,534 shares of the company’s stock valued at $2,989,000 after acquiring an additional 93,519 shares in the last quarter. US Bancorp DE purchased a new position in Weave Communications during the third quarter valued at $107,000. Harbor Capital Advisors Inc. purchased a new position in Weave Communications during the third quarter valued at $1,904,000. Principal Financial Group Inc. grew its stake in Weave Communications by 139.0% during the third quarter. Principal Financial Group Inc. now owns 89,768 shares of the company’s stock valued at $1,149,000 after acquiring an additional 52,210 shares in the last quarter. Finally, Summit Global Investments purchased a new position in Weave Communications during the third quarter valued at $460,000. 86.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WEAV. The Goldman Sachs Group raised their target price on shares of Weave Communications from $13.00 to $14.50 and gave the company a “neutral” rating in a research note on Friday, November 1st. Raymond James reaffirmed a “strong-buy” rating and set a $20.00 target price (up from $17.00) on shares of Weave Communications in a research note on Friday, February 21st.

Weave Communications Price Performance

WEAV stock opened at $12.61 on Friday. Weave Communications, Inc. has a 52 week low of $8.10 and a 52 week high of $17.63. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $15.99 and a two-hundred day simple moving average of $13.91. The firm has a market capitalization of $917.64 million, a P/E ratio of -32.33 and a beta of 1.91.

Weave Communications (NYSE:WEAV) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.12). Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. The business had revenue of $54.17 million for the quarter, compared to the consensus estimate of $53.23 million. Analysts anticipate that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Weave Communications

In other news, Director Blake G. Modersitzki sold 120,551 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $13.90, for a total value of $1,675,658.90. Following the completion of the sale, the director now owns 262,440 shares in the company, valued at approximately $3,647,916. This trade represents a 31.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Branden Neish sold 7,111 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.95, for a total transaction of $113,420.45. Following the completion of the sale, the insider now owns 512,122 shares of the company’s stock, valued at $8,168,345.90. This trade represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,162,759 shares of company stock worth $18,056,448 over the last 90 days. 36.30% of the stock is 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.