Osterweis Capital Management Inc. Acquires Shares of 645,240 Weave Communications, Inc. (NYSE:WEAV)

Osterweis Capital Management Inc. bought a new position in shares of Weave Communications, Inc. (NYSE:WEAV) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 645,240 shares of the company’s stock, valued at approximately $10,272,000. Osterweis Capital Management Inc. owned 0.89% of Weave Communications as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of WEAV. State Street Corp increased its holdings in 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 purchasing an additional 155,054 shares during the period. Barclays PLC increased its stake in shares of Weave Communications by 31.9% during the third quarter. Barclays PLC now owns 223,503 shares of the company’s stock valued at $2,861,000 after buying an additional 54,019 shares during the period. Geode Capital Management LLC raised its holdings in shares of Weave Communications by 13.0% in the third 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 in the last quarter. Lord Abbett & CO. LLC lifted its stake in Weave Communications by 37.7% in the third quarter. Lord Abbett & CO. LLC now owns 873,411 shares of the company’s stock worth $11,180,000 after acquiring an additional 239,202 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Weave Communications by 139.0% during the 3rd quarter. Principal Financial Group Inc. now owns 89,768 shares of the company’s stock worth $1,149,000 after acquiring an additional 52,210 shares in the last quarter. Institutional investors own 86.83% of the company’s stock.

Weave Communications Price Performance

Shares of WEAV stock opened at $9.38 on Thursday. The stock’s 50-day moving average is $12.26 and its 200 day moving average is $13.84. Weave Communications, Inc. has a 1-year low of $8.10 and a 1-year high of $17.63. 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 company has a market cap of $693.18 million, a P/E ratio of -24.05 and a beta of 1.97.

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

Wall Street Analysts Forecast Growth

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

Insider Activity at Weave Communications

In other news, insider Branden Neish sold 20,741 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $15.86, for a total transaction of $328,952.26. Following the sale, the insider now directly owns 491,381 shares of the company’s stock, valued at $7,793,302.66. The trade was a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Alan Taylor sold 31,262 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $11.16, for a total value of $348,883.92. Following the completion of the transaction, the chief financial officer now directly owns 247,484 shares in the company, valued at approximately $2,761,921.44. The trade was a 11.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 596,528 shares of company stock valued at $8,630,675 in the last ninety days. Corporate insiders own 36.30% of the company’s stock.

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.