Lane Generational LLC Has $2.76 Million Stock Holdings in Weave Communications, Inc. $WEAV

Lane Generational LLC raised its position in Weave Communications, Inc. (NYSE:WEAV) by 112.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 412,462 shares of the company’s stock after acquiring an additional 217,957 shares during the period. Weave Communications comprises approximately 2.3% of Lane Generational LLC’s holdings, making the stock its 19th largest holding. Lane Generational LLC’s holdings in Weave Communications were worth $2,755,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Scalar Gauge Management LLC acquired a new stake in shares of Weave Communications during the 3rd quarter worth approximately $1,164,000. Thrivent Financial for Lutherans acquired a new position in shares of Weave Communications in the second quarter valued at $3,649,000. Y Intercept Hong Kong Ltd lifted its position in Weave Communications by 162.7% in the second quarter. Y Intercept Hong Kong Ltd now owns 180,346 shares of the company’s stock worth $1,500,000 after purchasing an additional 111,687 shares during the period. Archon Capital Management LLC acquired a new stake in Weave Communications during the second quarter worth $1,184,000. Finally, Frontier Capital Management Co. LLC acquired a new stake in Weave Communications during the second quarter worth $16,915,000. Institutional investors own 86.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Weave Communications news, insider Erin Goodsell sold 9,615 shares of the stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $6.89, for a total value of $66,247.35. Following the transaction, the insider directly owned 527,055 shares in the company, valued at approximately $3,631,408.95. This trade represents a 1.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tyler Newton sold 50,993 shares of Weave Communications stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $6.68, for a total value of $340,633.24. Following the completion of the sale, the director directly owned 50,992 shares of the company’s stock, valued at $340,626.56. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 18.40% of the company’s stock.

Weave Communications Stock Up 0.6%

Shares of NYSE:WEAV opened at $6.50 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.08. The firm has a market cap of $507.20 million, a P/E ratio of -15.12 and a beta of 1.70. Weave Communications, Inc. has a 12 month low of $5.64 and a 12 month high of $17.63. The company’s 50-day moving average price is $6.85 and its two-hundred day moving average price is $7.06.

Weave Communications (NYSE:WEAV) last announced its earnings results on Thursday, October 30th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Weave Communications had a negative net margin of 14.32% and a negative return on equity of 42.10%. The company had revenue of $61.34 million during the quarter, compared to the consensus estimate of $60.67 million. As a group, research analysts forecast that Weave Communications, Inc. will post -0.33 EPS for the current fiscal year.

About Weave Communications

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.