Weave Communications, Inc. (NYSE:WEAV) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in shares of Weave Communications, Inc. (NYSE:WEAV) by 33.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 119,351 shares of the company’s stock after purchasing an additional 29,583 shares during the quarter. Principal Financial Group Inc. owned about 0.16% of Weave Communications worth $1,900,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Gagnon Securities LLC bought a new stake in Weave Communications during the fourth quarter worth approximately $524,000. SG Americas Securities LLC lifted its holdings in shares of Weave Communications by 103.8% in the fourth quarter. SG Americas Securities LLC now owns 30,752 shares of the company’s stock valued at $490,000 after buying an additional 15,660 shares during the period. Avanza Fonder AB bought a new position in Weave Communications during the fourth quarter valued at about $318,000. Harbor Capital Advisors Inc. grew its holdings in Weave Communications by 0.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 149,715 shares of the company’s stock worth $2,383,000 after acquiring an additional 937 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Weave Communications during the fourth quarter worth about $228,000. 86.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Raymond James reissued a “strong-buy” rating and issued a $20.00 price target (up from $17.00) on shares of Weave Communications in a report on Friday, February 21st.

Insider Transactions at Weave Communications

In other news, Director Blake G. Modersitzki sold 74,756 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $17.49, for a total value of $1,307,482.44. Following the completion of the sale, the director now owns 179,153 shares of the company’s stock, valued at $3,133,385.97. This trade represents a 29.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Alan Taylor sold 4,182 shares of Weave Communications stock in a transaction on Friday, December 20th. The shares were sold at an average price of $16.03, for a total value of $67,037.46. Following the transaction, the chief financial officer now owns 283,516 shares in the company, valued at $4,544,761.48. This represents a 1.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,042,208 shares of company stock valued at $16,380,789 over the last ninety days. Corporate insiders own 36.30% of the company’s stock.

Weave Communications Price Performance

Shares of NYSE:WEAV opened at $12.41 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59. The company has a market capitalization of $902.72 million, a PE ratio of -31.81 and a beta of 1.91. The stock has a fifty day moving average of $15.76 and a 200-day moving average of $13.99. Weave Communications, Inc. has a one year low of $8.10 and a one year high of $17.63.

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

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.