Weave Communications, Inc. $WEAV Shares Newly Acquired by Transmarket Holdings LP

Transmarket Holdings LP acquired a new position in shares of Weave Communications, Inc. (NYSE:WEAV) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 201,302 shares of the company’s stock, valued at approximately $1,486,000. Weave Communications comprises about 0.8% of Transmarket Holdings LP’s holdings, making the stock its 24th biggest holding.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Weave Communications in the second quarter valued at approximately $31,807,000. Pale Fire Capital SE bought a new stake in Weave Communications during the 1st quarter worth approximately $6,897,000. Engine Capital Management LP bought a new stake in Weave Communications during the 1st quarter worth approximately $4,858,000. Bank of New York Mellon Corp grew its position in Weave Communications by 17.7% during the 1st quarter. Bank of New York Mellon Corp now owns 805,788 shares of the company’s stock worth $3,723,000 after acquiring an additional 121,168 shares during the last quarter. Finally, Harber Asset Management LLC acquired a new stake in Weave Communications during the 2nd quarter valued at $4,706,000. 86.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on WEAV shares. UBS Group reiterated an “accumulate” rating on shares of Weave Communications in a research report on Tuesday, August 18th. B. Riley Financial lowered Weave Communications from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $8.25 to $7.40 in a research note on Wednesday, August 19th. Loop Capital cut Weave Communications from a “buy” rating to a “hold” rating and set a $7.40 target price on the stock. in a report on Wednesday, August 19th. Weiss Ratings upgraded Weave Communications from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, October 20th. Finally, Piper Sandler lowered Weave Communications from an “overweight” rating to a “hold” rating and lowered their target price for the company from $8.00 to $7.40 in a research note on Tuesday, August 18th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.84.

Weave Communications Price Performance

Shares of WEAV stock opened at $7.42 on Thursday. Weave Communications, Inc. has a 1 year low of $4.24 and a 1 year high of $7.70. The firm’s 50 day moving average is $7.35 and its 200-day moving average is $6.16. The firm has a market capitalization of $593.51 million, a price-to-earnings ratio of -29.68 and a beta of 1.68. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09.

Weave Communications (NYSE:WEAV) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. Weave Communications had a negative net margin of 7.97% and a negative return on equity of 21.14%. The business had revenue of $67.54 million during the quarter, compared to analyst estimates of $67.88 million. Sell-side analysts forecast that Weave Communications, Inc. will post -0.22 EPS for the current fiscal year.

Weave Communications Company Profile

Weave Communications, Inc provides an all-in-one customer communication and engagement platform for small and midsize businesses. Its software is designed to help businesses manage interactions with customers, streamline operations, and improve retention through a unified system.

The company’s platform combines business phone services, two-way texting, email, website chat, appointment scheduling, automated reminders, online payments, review management, and customer relationship management tools.