Weave Communications, Inc. (NYSE:WEAV) Shares Sold by Pelion Inc.

Pelion Inc. decreased its stake in Weave Communications, Inc. (NYSE:WEAV) by 30.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,855,290 shares of the company’s stock after selling 1,690,081 shares during the period. Weave Communications accounts for approximately 47.1% of Pelion Inc.’s holdings, making the stock its largest position. Pelion Inc. owned approximately 0.05% of Weave Communications worth $61,376,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of WEAV. Charles Schwab Investment Management Inc. increased its holdings in Weave Communications by 11.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 435,099 shares of the company’s stock worth $5,569,000 after buying an additional 45,475 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of Weave Communications by 637.6% during the 3rd quarter. Quantbot Technologies LP now owns 25,079 shares of the company’s stock worth $321,000 after purchasing an additional 21,679 shares during the last quarter. FMR LLC increased its stake in shares of Weave Communications by 161.9% during the 3rd quarter. FMR LLC now owns 97,991 shares of the company’s stock worth $1,254,000 after purchasing an additional 60,574 shares during the last quarter. Verition Fund Management LLC raised its holdings in shares of Weave Communications by 71.9% in the 3rd quarter. Verition Fund Management LLC now owns 27,600 shares of the company’s stock valued at $353,000 after purchasing an additional 11,546 shares during the period. Finally, PDT Partners LLC acquired a new stake in Weave Communications in the 3rd quarter valued at about $200,000. Institutional investors and hedge funds own 86.83% of the company’s stock.

Weave Communications Stock Performance

NYSE WEAV opened at $11.17 on Wednesday. The stock has a market cap of $825.09 million, a PE ratio of -28.63 and a beta of 1.96. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59. The firm has a 50-day moving average of $14.01 and a 200-day moving average of $14.07. Weave Communications, Inc. has a 52-week low of $8.10 and a 52-week high of $17.63.

Weave Communications (NYSE:WEAV) last issued 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 firm had revenue of $54.17 million for the quarter, compared to the consensus estimate of $53.23 million. Weave Communications had a negative return on equity of 28.37% and a negative net margin of 13.87%. On average, sell-side analysts anticipate that Weave Communications, Inc. will post -0.33 EPS for the current year.

Insider Buying and Selling at Weave Communications

In other Weave Communications news, CEO Brett T. White sold 54,778 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $15.86, for a total transaction of $868,779.08. Following the transaction, the chief executive officer now owns 1,928,364 shares in the company, valued at $30,583,853.04. This represents a 2.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Blake G. Modersitzki sold 74,756 shares of Weave Communications stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $17.49, for a total value of $1,307,482.44. Following the completion of the transaction, the director now directly owns 179,153 shares of the company’s stock, valued at $3,133,385.97. This represents a 29.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 597,322 shares of company stock valued at $8,642,847 in the last ninety days. 36.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.