Connor Clark & Lunn Investment Management Ltd. Grows Stock Position in Weave Communications, Inc. (NYSE:WEAV)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Weave Communications, Inc. (NYSE:WEAV) by 20.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 347,302 shares of the company’s stock after acquiring an additional 58,359 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Weave Communications were worth $4,445,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC raised its holdings in shares of Weave Communications by 17.8% in the 2nd quarter. Renaissance Technologies LLC now owns 593,500 shares of the company’s stock valued at $5,353,000 after purchasing an additional 89,600 shares in the last quarter. Silvercrest Asset Management Group LLC increased its holdings in Weave Communications by 39.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 505,525 shares of the company’s stock valued at $5,803,000 after buying an additional 143,382 shares during the last quarter. Summit Global Investments acquired a new stake in Weave Communications in the third quarter valued at $460,000. Pathway Capital Management LP purchased a new stake in Weave Communications during the 3rd quarter worth about $7,308,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Weave Communications during the 1st quarter worth about $1,816,000. Institutional investors and hedge funds own 86.83% of the company’s stock.

Wall Street Analyst Weigh In

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

Weave Communications Trading Up 3.5 %

NYSE:WEAV opened at $13.91 on Friday. The company has a market capitalization of $1.01 billion, a PE ratio of -34.78 and a beta of 2.08. Weave Communications, Inc. has a 52-week low of $8.10 and a 52-week high of $14.50. The stock’s 50 day moving average price is $13.05 and its 200 day moving average price is $10.85. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09.

Insider Activity

In other news, Director Blake G. Modersitzki sold 121,148 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $14.05, for a total value of $1,702,129.40. Following the completion of the sale, the director now directly owns 296,182 shares of the company’s stock, valued at approximately $4,161,357.10. This represents a 29.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alan Taylor sold 2,638 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $13.00, for a total value of $34,294.00. Following the transaction, the chief financial officer now directly owns 421,847 shares in the company, valued at approximately $5,484,011. This represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 477,957 shares of company stock valued at $6,531,864. 36.30% of the stock is currently owned by company insiders.

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.