State Street Corp Increases Stock Holdings in Weave Communications, Inc. (NYSE:WEAV)

State Street Corp grew its holdings in shares of Weave Communications, Inc. (NYSE:WEAV) by 19.5% in the 3rd quarter, according to its most recent 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 owned approximately 1.31% of Weave Communications worth $12,169,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. nVerses Capital LLC bought a new stake in Weave Communications during the third quarter valued at approximately $45,000. Quarry LP purchased a new position in shares of Weave Communications during the 3rd quarter worth $45,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Weave Communications by 48.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company’s stock worth $90,000 after acquiring an additional 3,228 shares during the last quarter. Private Management Group Inc. bought a new stake in shares of Weave Communications during the 2nd quarter valued at $90,000. Finally, US Bancorp DE purchased a new stake in shares of Weave Communications in the 3rd quarter worth $107,000. Hedge funds and other institutional investors own 86.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on WEAV. The Goldman Sachs Group lifted their target price on Weave Communications from $13.00 to $14.50 and gave the company a “neutral” rating in a research report on Friday, November 1st. Piper Sandler lifted their price objective on Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Loop Capital increased their target price on shares of Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $16.50.

Weave Communications Price Performance

NYSE:WEAV opened at $16.01 on Thursday. The business’s 50-day simple moving average is $14.20 and its two-hundred day simple moving average is $11.85. Weave Communications, Inc. has a 52 week low of $8.10 and a 52 week high of $16.56. The stock has a market cap of $1.17 billion, a PE ratio of -40.03 and a beta of 2.00. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09.

Insider Buying and Selling

In other Weave Communications news, Director Blake G. Modersitzki sold 15,718 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $13.49, for a total value of $212,035.82. Following the sale, the director now owns 303,935 shares in the company, valued at $4,100,083.15. The trade was a 4.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alan Taylor sold 4,182 shares of Weave Communications stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $16.03, for a total value of $67,037.46. Following the completion of the sale, the chief financial officer now directly owns 283,516 shares in the company, valued at $4,544,761.48. This trade represents a 1.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,175,291 shares of company stock worth $17,043,781. 36.30% of the stock is owned by corporate insiders.

About Weave Communications

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.