Pathway Capital Management LP Acquires Shares of 570,952 Weave Communications, Inc. (NYSE:WEAV)

Pathway Capital Management LP acquired a new stake in shares of Weave Communications, Inc. (NYSE:WEAV) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 570,952 shares of the company’s stock, valued at approximately $7,308,000. Weave Communications comprises 13.8% of Pathway Capital Management LP’s portfolio, making the stock its 3rd largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. increased its position in Weave Communications by 5.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 17,496 shares of the company’s stock worth $158,000 after purchasing an additional 896 shares during the period. California State Teachers Retirement System increased its position in Weave Communications by 6.6% during the 1st quarter. California State Teachers Retirement System now owns 34,685 shares of the company’s stock worth $398,000 after purchasing an additional 2,152 shares during the period. ClariVest Asset Management LLC increased its position in Weave Communications by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 82,194 shares of the company’s stock worth $741,000 after purchasing an additional 2,298 shares during the period. AQR Capital Management LLC increased its position in Weave Communications by 3.8% during the 2nd quarter. AQR Capital Management LLC now owns 68,687 shares of the company’s stock worth $620,000 after purchasing an additional 2,516 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Weave Communications by 48.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company’s stock worth $90,000 after purchasing an additional 3,228 shares during the period. 86.83% of the stock is owned by hedge funds and other institutional investors.

Weave Communications Stock Performance

WEAV opened at $14.00 on Tuesday. The stock has a market cap of $1.01 billion, a P/E ratio of -35.00 and a beta of 2.08. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.64 and a quick ratio of 1.64. The stock’s 50 day simple moving average is $12.51 and its 200 day simple moving average is $10.63. Weave Communications, Inc. has a 1-year low of $7.95 and a 1-year high of $14.50.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on WEAV shares. Piper Sandler boosted their target price on Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group upped their price target on Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Loop Capital upped their price target on Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $16.50.

Insider Buying and Selling at Weave Communications

In other Weave Communications news, COO Marcus Bertilson sold 15,000 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $10.67, for a total transaction of $160,050.00. Following the transaction, the chief operating officer now owns 337,682 shares of the company’s stock, valued at $3,603,066.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Alan Taylor sold 8,710 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $14.12, for a total value of $122,985.20. Following the transaction, the chief financial officer now directly owns 392,085 shares of the company’s stock, valued at approximately $5,536,240.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Marcus Bertilson sold 15,000 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $10.67, for a total value of $160,050.00. Following the completion of the transaction, the chief operating officer now directly owns 337,682 shares in the company, valued at $3,603,066.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 286,106 shares of company stock worth $3,811,470. 36.30% of the stock is owned by insiders.

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.