Thrivent Financial for Lutherans Has $7.57 Million Stock Holdings in Weave Communications, Inc. $WEAV

Thrivent Financial for Lutherans increased its stake in shares of Weave Communications, Inc. (NYSE:WEAV) by 158.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,133,532 shares of the company’s stock after acquiring an additional 694,935 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Weave Communications were worth $7,572,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Scalar Gauge Management LLC acquired a new position in Weave Communications in the 3rd quarter valued at $1,164,000. Lane Generational LLC acquired a new stake in shares of Weave Communications during the second quarter worth $1,618,000. Y Intercept Hong Kong Ltd boosted its position in shares of Weave Communications by 162.7% in the second quarter. Y Intercept Hong Kong Ltd now owns 180,346 shares of the company’s stock valued at $1,500,000 after acquiring an additional 111,687 shares during the period. Archon Capital Management LLC bought a new stake in shares of Weave Communications in the second quarter valued at about $1,184,000. Finally, Frontier Capital Management Co. LLC acquired a new position in shares of Weave Communications in the second quarter valued at about $16,915,000. Institutional investors and hedge funds own 86.83% of the company’s stock.

Weave Communications Stock Down 5.8%

Shares of WEAV opened at $5.96 on Friday. The firm has a 50 day simple moving average of $6.84 and a two-hundred day simple moving average of $7.03. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.24 and a quick ratio of 1.24. Weave Communications, Inc. has a one year low of $5.64 and a one year high of $17.63. The company has a market cap of $464.64 million, a P/E ratio of -13.85 and a beta of 1.69.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Citigroup dropped their price objective on shares of Weave Communications from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Monday, November 3rd. Raymond James Financial cut shares of Weave Communications from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, January 6th. Stifel Nicolaus dropped their price target on shares of Weave Communications from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Piper Sandler reduced their price target on Weave Communications from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Weave Communications in a research report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Weave Communications presently has a consensus rating of “Hold” and an average price target of $11.50.

Insider Activity at Weave Communications

In related news, insider Erin Goodsell sold 9,615 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $6.89, for a total transaction of $66,247.35. Following the completion of the sale, the insider directly owned 527,055 shares in the company, valued at $3,631,408.95. This represents a 1.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 18.40% of the company’s stock.

Weave Communications Company Profile

Weave Communications is a technology company that provides integrated communications and customer management solutions tailored for small- to medium-sized local businesses. Headquartered in Lehi, Utah, the company developed a cloud-based platform that unifies voice calling, business texting, appointment reminders and payment processing within a single interface.

The platform’s core offerings include a unified business phone system, two-way texting, automated appointment and recall reminders, secure payment acceptance and a basic customer relationship management module.