Olympiad Research LP Invests $503,000 in Weave Communications, Inc. (NYSE:WEAV)

Olympiad Research LP acquired a new position in shares of Weave Communications, Inc. (NYSE:WEAV) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 31,615 shares of the company’s stock, valued at approximately $503,000.

Several other institutional investors also recently modified their holdings of WEAV. Raymond James & Associates increased its stake in shares of Weave Communications by 66.8% during the 3rd quarter. Raymond James & Associates now owns 233,534 shares of the company’s stock worth $2,989,000 after purchasing an additional 93,519 shares during the last quarter. US Bancorp DE acquired a new position in Weave Communications in the 3rd quarter valued at about $107,000. Harbor Capital Advisors Inc. acquired a new position in Weave Communications in the 3rd quarter valued at about $1,904,000. Principal Financial Group Inc. grew its stake in Weave Communications by 139.0% in the 3rd quarter. Principal Financial Group Inc. now owns 89,768 shares of the company’s stock valued at $1,149,000 after buying an additional 52,210 shares during the last quarter. Finally, Summit Global Investments acquired a new position in Weave Communications in the 3rd quarter valued at about $460,000. 86.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Weave Communications

In other news, Director Blake G. Modersitzki sold 242,820 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $14.38, for a total transaction of $3,491,751.60. Following the completion of the sale, the director now owns 244,616 shares of the company’s stock, valued at approximately $3,517,578.08. This represents a 49.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brett T. White sold 54,778 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $15.86, for a total transaction of $868,779.08. Following the sale, the chief executive officer now directly owns 1,928,364 shares of the company’s stock, valued at approximately $30,583,853.04. This trade represents a 2.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,190,043 shares of company stock valued at $18,442,044 in the last quarter. Company insiders own 36.30% of the company’s stock.

Weave Communications Stock Performance

NYSE WEAV opened at $14.26 on Friday. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $1.04 billion, a P/E ratio of -36.55 and a beta of 1.91. Weave Communications, Inc. has a 12-month low of $8.10 and a 12-month high of $17.63. The firm has a 50-day moving average price of $16.23 and a two-hundred day moving average price of $13.87.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WEAV. Piper Sandler upped their price target on shares of Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Raymond James reiterated a “strong-buy” rating and issued a $20.00 price target (up previously from $17.00) on shares of Weave Communications in a research note on Friday. Loop Capital upped their price target on shares of Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group upped 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.

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.