Connor Clark & Lunn Investment Management Ltd. Has $6.41 Million Position in Weave Communications, Inc. (NYSE:WEAV)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Weave Communications, Inc. (NYSE:WEAV) by 15.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 402,446 shares of the company’s stock after purchasing an additional 55,144 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Weave Communications were worth $6,407,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in WEAV. Wasatch Advisors LP grew its position in Weave Communications by 40.9% in the 3rd quarter. Wasatch Advisors LP now owns 3,760,837 shares of the company’s stock worth $48,139,000 after purchasing an additional 1,091,028 shares during the last quarter. Pathway Capital Management LP increased its stake in Weave Communications by 136.3% during the fourth quarter. Pathway Capital Management LP now owns 1,349,365 shares of the company’s stock valued at $21,482,000 after acquiring an additional 778,413 shares during the period. State Street Corp raised its holdings in Weave Communications by 19.5% in the 3rd quarter. State Street Corp now owns 950,683 shares of the company’s stock valued at $12,169,000 after acquiring an additional 155,054 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Weave Communications in the 4th quarter worth approximately $14,984,000. Finally, Geode Capital Management LLC grew its holdings in shares of Weave Communications by 13.0% during the 3rd quarter. Geode Capital Management LLC now owns 883,207 shares of the company’s stock worth $11,308,000 after purchasing an additional 101,580 shares in the last quarter. Institutional investors own 86.83% of the company’s stock.

Insider Activity at Weave Communications

In related news, Director Blake G. Modersitzki sold 9,050 shares of Weave Communications stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.59, for a total value of $141,089.50. Following the completion of the transaction, the director now directly owns 207,400 shares of the company’s stock, valued at $3,233,366. The trade was a 4.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Branden Neish sold 7,111 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.95, for a total transaction of $113,420.45. Following the sale, the insider now directly owns 512,122 shares in the company, valued at approximately $8,168,345.90. This represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 512,987 shares of company stock valued at $8,501,339 in the last ninety days. Insiders own 36.30% of the company’s stock.

Weave Communications Trading Up 1.6 %

WEAV stock opened at $11.17 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09. The firm has a market cap of $812.71 million, a P/E ratio of -28.64 and a beta of 1.96. Weave Communications, Inc. has a 1-year low of $8.10 and a 1-year high of $17.63. The business’s 50 day moving average is $15.03 and its 200-day moving average is $13.99.

Weave Communications (NYSE:WEAV) last released its quarterly earnings data 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 company had revenue of $54.17 million for the quarter, compared to analyst estimates of $53.23 million. Equities analysts anticipate that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.