Canada Pension Plan Investment Board Takes Position in Weave Communications, Inc. (NYSE:WEAV)

Canada Pension Plan Investment Board purchased a new position in shares of Weave Communications, Inc. (NYSE:WEAV) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 214,300 shares of the company’s stock, valued at approximately $3,412,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Amundi acquired a new stake in Weave Communications during the 4th quarter worth $66,000. Summit Investment Advisors Inc. grew its stake in shares of Weave Communications by 28.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company’s stock worth $66,000 after purchasing an additional 928 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Weave Communications during the fourth quarter worth $131,000. US Bancorp DE increased its holdings in Weave Communications by 8.4% in the fourth quarter. US Bancorp DE now owns 9,053 shares of the company’s stock valued at $144,000 after purchasing an additional 703 shares during the last quarter. Finally, Cerity Partners LLC acquired a new position in Weave Communications in the fourth quarter valued at about $159,000. 86.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CEO Brett T. White sold 54,778 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $15.86, for a total value of $868,779.08. Following the sale, the chief executive officer now directly owns 1,928,364 shares in the company, valued at $30,583,853.04. The trade was a 2.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Alan Taylor sold 31,262 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $11.16, for a total value of $348,883.92. Following the transaction, the chief financial officer now owns 247,484 shares of the company’s stock, 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. In the last three months, insiders have sold 596,528 shares of company stock worth $8,630,675. Company insiders own 36.30% of the company’s stock.

Weave Communications Price Performance

Shares of WEAV stock opened at $9.06 on Wednesday. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. Weave Communications, Inc. has a 12-month low of $8.10 and a 12-month high of $17.63. The firm has a fifty day moving average of $11.61 and a 200-day moving average of $13.75. The firm has a market capitalization of $678.22 million, a price-to-earnings ratio of -23.22 and a beta of 1.97.

Weave Communications (NYSE:WEAV) last announced 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 business had revenue of $54.17 million during the quarter, compared to the consensus estimate of $53.23 million. On average, equities research analysts forecast that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

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.