Ieq Capital LLC Makes New Investment in Weave Communications, Inc. $WEAV

Key Points

• Ieq Capital LLC acquired 209,484 shares of Weave Communications in the second quarter, valued at approximately $1.26 million and representing about 0.26% of the company. Institutional investors collectively own 86.83% of WEAV.
• Analyst sentiment has weakened, with several firms downgrading the stock to “Hold.” MarketBeat reports an overall “Hold” rating and an average price target of $7.84.
• WEAV shares opened at $7.31, compared with a 52-week range of $4.24 to $8.00. The company met quarterly EPS expectations at $0.04, but revenue of $67.54 million came in slightly below estimates and analysts expect a full-year loss of $0.22 per share.

Ieq Capital LLC purchased a new position in Weave Communications, Inc. (NYSE:WEAV - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 209,484 shares of the company's stock, valued at approximately $1,255,000. Ieq Capital LLC owned about 0.26% of Weave Communications as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Hilton Head Capital Partners LLC bought a new stake in Weave Communications during the 4th quarter valued at $26,000. Optiver Holding B.V. increased its position in shares of Weave Communications by 1,201.2% in the first quarter. Optiver Holding B.V. now owns 7,339 shares of the company's stock valued at $34,000 after acquiring an additional 6,775 shares during the period. Amundi increased its position in shares of Weave Communications by 27.1% in the first quarter. Amundi now owns 5,301 shares of the company's stock valued at $59,000 after acquiring an additional 1,130 shares during the period. Focus Partners Advisor Solutions LLC bought a new position in shares of Weave Communications during the second quarter valued at about $60,000. Finally, CWM LLC raised its stake 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 acquiring an additional 8,296 shares during the last quarter. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WEAV has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Weave Communications from a "buy" rating to a "hold" rating in a report on Sunday. Weiss Ratings restated a "sell (e+)" rating on shares of Weave Communications in a report on Wednesday, July 8th. Raymond James Financial lowered shares of Weave Communications from an "outperform" rating to a "market perform" rating in a research note on Monday. Loop Capital lowered shares of Weave Communications from a "buy" rating to a "hold" rating and set a $7.40 price objective for the company. in a report on Wednesday, August 19th. Finally, B. Riley Financial downgraded Weave Communications from a "buy" rating to a "hold" rating and reduced their target price for the stock from $8.25 to $7.40 in a report on Wednesday, August 19th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $7.84.

Weave Communications Stock Performance

Shares of WEAV stock opened at $7.31 on Thursday. The company has a market capitalization of $584.80 million, a price-to-earnings ratio of -29.24 and a beta of 1.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.25 and a current ratio of 1.25. Weave Communications, Inc. has a one year low of $4.24 and a one year high of $8.00. The company's 50-day moving average is $6.42 and its 200 day moving average is $5.70.

Weave Communications (NYSE:WEAV - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $67.54 million for the quarter, compared to the consensus estimate of $67.88 million. Weave Communications had a negative net margin of 7.97% and a negative return on equity of 21.14%. Sell-side analysts expect that Weave Communications, Inc. will post -0.22 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.

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