Arcadia Wealth Management Inc. Acquires New Holdings in Weave Communications, Inc. (NYSE:WEAV)

Arcadia Wealth Management Inc. acquired a new stake in shares of Weave Communications, Inc. (NYSE:WEAV) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,500 shares of the company’s stock, valued at approximately $215,000.

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in Weave Communications by 33.0% during the fourth quarter. Principal Financial Group Inc. now owns 119,351 shares of the company’s stock valued at $1,900,000 after purchasing an additional 29,583 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Weave Communications by 6.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 464,330 shares of the company’s stock valued at $7,392,000 after buying an additional 29,231 shares in the last quarter. Driehaus Capital Management LLC lifted its stake in Weave Communications by 57.9% in the fourth quarter. Driehaus Capital Management LLC now owns 855,502 shares of the company’s stock valued at $13,620,000 after buying an additional 313,618 shares in the last quarter. Geode Capital Management LLC lifted its stake in Weave Communications by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 894,331 shares of the company’s stock valued at $14,242,000 after buying an additional 11,124 shares in the last quarter. Finally, Amundi bought a new position in Weave Communications in the fourth quarter valued at approximately $66,000. Institutional investors and hedge funds own 86.83% of the company’s stock.

Weave Communications Price Performance

Shares of WEAV opened at $9.60 on Tuesday. The firm has a market capitalization of $721.37 million, a PE ratio of -24.60 and a beta of 1.97. The company’s 50-day moving average is $10.30 and its 200-day moving average is $13.24. Weave Communications, Inc. has a fifty-two week low of $8.18 and a fifty-two week 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.

Weave Communications (NYSE:WEAV) last issued its earnings results on Monday, May 5th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.12). Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. The company had revenue of $55.81 million during the quarter, compared to analyst estimates of $54.72 million. Equities analysts forecast that Weave Communications, Inc. will post -0.33 EPS for the current year.

Insider Buying and Selling at Weave Communications

In related news, CEO Brett T. White sold 109,722 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $11.26, for a total value of $1,235,469.72. Following the completion of the transaction, the chief executive officer now owns 1,790,435 shares in the company, valued at $20,160,298.10. This trade represents a 5.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Branden Neish sold 25,510 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $11.33, for a total transaction of $289,028.30. Following the completion of the transaction, the insider now owns 460,908 shares of the company’s stock, valued at approximately $5,222,087.64. This trade represents a 5.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 320,014 shares of company stock worth $3,522,274 over the last quarter. Corporate insiders own 18.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of Weave Communications from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Raymond James cut their price objective on shares of Weave Communications from $20.00 to $17.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, April 29th. Finally, Stifel Nicolaus cut their price objective on shares of Weave Communications from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $16.10.

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.