Weave Communications, Inc. (NYSE:WEAV) Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. decreased its holdings in shares of Weave Communications, Inc. (NYSE:WEAV) by 16.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,115 shares of the company’s stock after selling 1,427 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Weave Communications were worth $80,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Weave Communications by 37.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,942,793 shares of the company’s stock valued at $23,984,000 after purchasing an additional 808,248 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Weave Communications by 896.6% during the third quarter. Bank of New York Mellon Corp now owns 937,604 shares of the company’s stock valued at $7,641,000 after acquiring an additional 843,526 shares during the period. Acadian Asset Management LLC increased its stake in Weave Communications by 9.0% during the 3rd quarter. Acadian Asset Management LLC now owns 801,563 shares of the company’s stock valued at $6,529,000 after buying an additional 66,349 shares during the period. Federated Hermes Inc. lifted its holdings in Weave Communications by 0.3% in the 4th quarter. Federated Hermes Inc. now owns 462,704 shares of the company’s stock valued at $5,307,000 after acquiring an additional 1,397 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Weave Communications by 18.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 256,699 shares of the company’s stock worth $2,092,000 after buying an additional 40,270 shares during the period. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

Weave Communications Price Performance

Weave Communications stock opened at $8.85 on Friday. The firm has a 50-day moving average of $10.53 and a 200-day moving average of $10.95. Weave Communications, Inc. has a one year low of $6.67 and a one year high of $13.80. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.75 and a current ratio of 1.75.

Weave Communications (NYSE:WEAV) last issued its earnings results on Wednesday, May 1st. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.08). Weave Communications had a negative return on equity of 31.74% and a negative net margin of 17.06%. The business had revenue of $47.17 million for the quarter, compared to the consensus estimate of $45.89 million. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. On average, equities analysts anticipate that Weave Communications, Inc. will post -0.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WEAV. Piper Sandler reiterated an “overweight” rating and set a $15.00 price objective on shares of Weave Communications in a report on Thursday, February 22nd. Raymond James raised shares of Weave Communications from an “outperform” rating to a “strong-buy” rating and set a $15.00 price objective for the company in a research report on Monday, February 26th. Finally, Stifel Nicolaus boosted their price target on shares of Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Weave Communications currently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

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.