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

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Weave Communications, Inc. (NYSE:WEAV) by 20.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 347,302 shares of the company’s stock after purchasing an additional 58,359 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.48% of Weave Communications worth $4,445,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Weave Communications by 10.3% in the 1st quarter. Vanguard Group Inc. now owns 3,342,681 shares of the company’s stock valued at $38,374,000 after acquiring an additional 312,392 shares during the last quarter. AXA S.A. acquired a new stake in shares of Weave Communications in the second quarter valued at approximately $11,590,000. Renaissance Technologies LLC lifted its position in Weave Communications by 17.8% during the second quarter. Renaissance Technologies LLC now owns 593,500 shares of the company’s stock worth $5,353,000 after buying an additional 89,600 shares in the last quarter. Pathway Capital Management LP acquired a new position in Weave Communications during the third quarter worth $7,308,000. Finally, Silvercrest Asset Management Group LLC grew its holdings in Weave Communications by 39.6% in the 1st 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 in the last quarter. 86.83% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Weave Communications

In other Weave Communications news, COO Marcus Bertilson sold 15,000 shares of Weave Communications stock in a transaction dated 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 of the company’s stock, valued at $3,603,066.94. The trade was a 4.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Alan Taylor sold 3,560 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $10.39, for a total transaction of $36,988.40. Following the sale, the chief financial officer now directly owns 525,555 shares in the company, valued at $5,460,516.45. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 477,957 shares of company stock worth $6,531,864. 36.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

WEAV has been the topic of several recent research reports. The Goldman Sachs Group boosted their price target on shares of Weave Communications from $13.00 to $14.50 and gave the company 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 lifted their price target on shares of Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. One investment 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $16.50.

Weave Communications Trading Up 3.5 %

Shares of WEAV stock opened at $13.91 on Friday. Weave Communications, Inc. has a 1-year low of $8.10 and a 1-year high of $14.50. The firm has a market cap of $1.01 billion, a PE ratio of -34.78 and a beta of 2.08. The company has a 50-day moving average of $13.05 and a two-hundred day moving average of $10.85. 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 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.