Wasatch Advisors LP Trims Stock Position in Weave Communications, Inc. $WEAV

Wasatch Advisors LP lowered its stake in shares of Weave Communications, Inc. (NYSE:WEAV) by 62.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 661,702 shares of the company’s stock after selling 1,116,699 shares during the quarter. Wasatch Advisors LP owned about 0.84% of Weave Communications worth $3,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of WEAV. Hilton Head Capital Partners LLC purchased a new position in shares of Weave Communications during the 4th quarter worth approximately $26,000. Amundi lifted its stake in shares of Weave Communications by 27.1% in the 1st quarter. Amundi now owns 5,301 shares of the company’s stock valued at $59,000 after purchasing an additional 1,130 shares during the period. AXQ Capital LP bought a new stake in shares of Weave Communications during the third quarter valued at approximately $67,000. CWM LLC boosted its position in shares of Weave Communications by 1,125.6% during the fourth quarter. CWM LLC now owns 9,033 shares of the company’s stock valued at $69,000 after purchasing an additional 8,296 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Weave Communications by 119.7% in the second quarter. Tower Research Capital LLC TRC now owns 8,683 shares of the company’s stock worth $72,000 after purchasing an additional 4,731 shares during the period. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Weave Communications in a research report on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Weave Communications has a consensus rating of “Hold” and a consensus price target of $10.00.

Weave Communications Price Performance

WEAV stock opened at $5.89 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a 50 day moving average price of $5.51 and a 200-day moving average price of $5.81. Weave Communications, Inc. has a 52-week low of $4.24 and a 52-week high of $9.10. The firm has a market capitalization of $469.07 million, a price-to-earnings ratio of -19.02 and a beta of 1.69.

Weave Communications (NYSE:WEAV) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $65.50 million during the quarter, compared to analysts’ expectations of $64.57 million. Weave Communications had a negative return on equity of 26.46% and a negative net margin of 10.05%. Equities research analysts forecast that Weave Communications, Inc. will post -0.27 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.