Federated Hermes Inc. Trims Position in Weave Communications, Inc. (NYSE:WEAV)

Federated Hermes Inc. lowered its stake in shares of Weave Communications, Inc. (NYSE:WEAV) by 59.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 250,882 shares of the company’s stock after selling 363,570 shares during the quarter. Federated Hermes Inc. owned about 0.35% of Weave Communications worth $2,263,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wasatch Advisors LP increased its stake in Weave Communications by 17.9% in the 4th quarter. Wasatch Advisors LP now owns 2,172,373 shares of the company’s stock valued at $24,917,000 after buying an additional 330,422 shares during the period. Vanguard Group Inc. increased its stake in shares of Weave Communications by 10.3% during the first quarter. Vanguard Group Inc. now owns 3,342,681 shares of the company’s stock worth $38,374,000 after acquiring an additional 312,392 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Weave Communications during the first quarter worth about $1,816,000. Silvercrest Asset Management Group LLC lifted its position in Weave Communications by 39.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 505,525 shares of the company’s stock valued at $5,803,000 after purchasing an additional 143,382 shares during the period. Finally, Bailard Inc. purchased a new stake in Weave Communications in the 2nd quarter valued at approximately $851,000. Institutional investors and hedge funds own 86.83% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Alan Taylor sold 3,560 shares of Weave Communications stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $10.39, for a total transaction of $36,988.40. Following the completion of the sale, the chief financial officer now directly owns 525,555 shares in the company, valued at approximately $5,460,516.45. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, COO Marcus Bertilson sold 15,000 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $10.67, for a total value of $160,050.00. Following the sale, the chief operating officer now directly owns 337,682 shares in the company, valued at approximately $3,603,066.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Alan Taylor sold 3,560 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $10.39, for a total transaction of $36,988.40. Following the transaction, the chief financial officer now owns 525,555 shares of the company’s stock, valued at $5,460,516.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,855 shares of company stock worth $343,682. 36.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Piper Sandler increased their target price on Weave Communications from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st.

Weave Communications Stock Performance

NYSE:WEAV opened at $12.50 on Friday. The firm’s fifty day simple moving average is $10.63 and its 200-day simple moving average is $10.24. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.09. The stock has a market cap of $889.04 million, a PE ratio of -29.07 and a beta of 2.09. Weave Communications, Inc. has a fifty-two week low of $6.67 and a fifty-two week high of $13.80.

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.