Newtyn Management LLC Sells 210,000 Shares of Weave Communications, Inc. $WEAV

Key Points

• Newtyn Management LLC reduced its Weave Communications position by 210,000 shares, or 3%, but still held 6.79 million shares valued at approximately $40.7 million, representing about 8.49% of the company.
• Institutional investors own 86.83% of Weave Communications, with several funds initiating or increasing positions during the latest reporting periods.
• Analyst sentiment is mostly neutral: the stock has a consensus “Hold” rating and a $7.84 target price, while shares recently traded at $7.30. The company met quarterly EPS expectations at $0.04 but reported revenue slightly below forecasts.

Newtyn Management LLC lowered its position in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 3.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,790,000 shares of the company's stock after selling 210,000 shares during the period. Weave Communications accounts for about 5.2% of Newtyn Management LLC's holdings, making the stock its 6th biggest position. Newtyn Management LLC owned approximately 8.49% of Weave Communications worth $40,672,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hilton Head Capital Partners LLC bought a new stake in shares of Weave Communications during the fourth quarter valued at approximately $26,000. Optiver Holding B.V. raised its position in shares of Weave Communications by 1,201.2% during the first quarter. Optiver Holding B.V. now owns 7,339 shares of the company's stock worth $34,000 after purchasing an additional 6,775 shares during the period. Legal & General Group Plc bought a new position in shares of Weave Communications in the 2nd quarter worth $38,000. Amundi grew its position in 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. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in Weave Communications in the 2nd quarter valued at $60,000. Institutional investors own 86.83% of the company's stock.

Analysts Set New Price Targets

WEAV has been the topic of several research reports. Weiss Ratings restated a "sell (e+)" rating on shares of Weave Communications in a report on Wednesday, July 8th. Piper Sandler cut shares of Weave Communications from an "overweight" rating to a "hold" rating and reduced their price objective for the company from $8.00 to $7.40 in a report on Tuesday, August 18th. UBS Group restated an "accumulate" rating on shares of Weave Communications in a report on Tuesday, August 18th. B. Riley Financial cut shares of Weave Communications from a "buy" rating to a "hold" rating and dropped their price target for the company from $8.25 to $7.40 in a research report on Wednesday, August 19th. Finally, Loop Capital downgraded Weave Communications from a "buy" rating to a "hold" rating and set a $7.40 price target for the company. in a research note on Wednesday, August 19th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $7.84.

Weave Communications Trading Up 0.1%

Shares of Weave Communications stock opened at $7.30 on Monday. The company has a market capitalization of $584 million, a P/E ratio of -29.20 and a beta of 1.67. The stock has a fifty day simple moving average of $6.50 and a 200 day simple moving average of $5.72. Weave Communications, Inc. has a 12-month low of $4.24 and a 12-month high of $8.00. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Weave Communications had a negative return on equity of 21.14% and a negative net margin of 7.97%.The business had revenue of $67.54 million for the quarter, compared to analysts' expectations of $67.88 million. On average, sell-side analysts anticipate that Weave Communications, Inc. will post -0.22 earnings per share 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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