Weave Communications, Inc. (NYSE:WEAV) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. trimmed its holdings in Weave Communications, Inc. (NYSE:WEAV) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 87,841 shares of the company’s stock after selling 1,471 shares during the quarter. Franklin Resources Inc. owned 0.12% of Weave Communications worth $1,149,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WEAV. Wasatch Advisors LP lifted its stake in shares of Weave Communications by 40.9% in the 3rd quarter. Wasatch Advisors LP now owns 3,760,837 shares of the company’s stock valued at $48,139,000 after purchasing an additional 1,091,028 shares during the period. AXA S.A. acquired a new position in shares of Weave Communications in the second quarter worth about $11,590,000. State Street Corp boosted its stake in shares of Weave Communications by 19.5% during the 3rd quarter. State Street Corp now owns 950,683 shares of the company’s stock worth $12,169,000 after acquiring an additional 155,054 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Weave Communications by 13.0% during the 3rd quarter. Geode Capital Management LLC now owns 883,207 shares of the company’s stock valued at $11,308,000 after acquiring an additional 101,580 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Weave Communications by 17.8% in the 2nd quarter. Renaissance Technologies LLC now owns 593,500 shares of the company’s stock valued at $5,353,000 after purchasing an additional 89,600 shares in the last quarter. 86.83% of the stock is owned by institutional investors and hedge funds.

Weave Communications Stock Performance

NYSE WEAV opened at $16.12 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59. The stock’s 50 day simple moving average is $14.31 and its 200-day simple moving average is $11.93. The company has a market cap of $1.17 billion, a PE ratio of -40.30 and a beta of 2.00. Weave Communications, Inc. has a 1-year low of $8.10 and a 1-year high of $16.56.

Insider Buying and Selling at Weave Communications

In other news, CFO Alan Taylor sold 22,356 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $13.00, for a total transaction of $290,628.00. Following the transaction, the chief financial officer now directly owns 424,485 shares in the company, valued at $5,518,305. The trade was a 5.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Branden Neish sold 7,111 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $15.95, for a total value of $113,420.45. Following the completion of the sale, the insider now directly owns 512,122 shares of the company’s stock, valued at approximately $8,168,345.90. This represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,259,750 shares of company stock worth $18,437,727. Corporate insiders own 36.30% of the company’s stock.

Analyst Upgrades and Downgrades

WEAV has been the topic of a number of recent analyst reports. Piper Sandler increased their price target on Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group lifted their price target 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. Finally, Loop Capital upped their price objective on shares of Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average 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.