Susquehanna International Group LLP Sells 146,536 Shares of Weave Communications, Inc. $WEAV

Key Points

• Susquehanna International Group reduced its Weave Communications stake by 90.5%, selling 146,536 shares and retaining 15,423 shares worth approximately $92,000.
• Institutional ownership remains high at 86.83%, with major investors including BlackRock and several other funds initiating new positions.
• Analyst sentiment has weakened to a consensus “Hold” rating, with an average price target of $7.84. Weave reported quarterly EPS in line with estimates at $0.04, though revenue of $67.54 million fell slightly short of expectations.

Susquehanna International Group LLP cut its holdings in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 90.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,423 shares of the company's stock after selling 146,536 shares during the quarter. Susquehanna International Group LLP's holdings in Weave Communications were worth $92,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. bought a new stake in Weave Communications during the 2nd quarter worth about $31,807,000. Gumshoe Capital Management LLC bought a new position in shares of Weave Communications in the fourth quarter worth about $22,705,000. Pale Fire Capital SE bought a new position in shares of Weave Communications in the first quarter worth about $6,897,000. Disciplined Growth Investors Inc. MN acquired a new position in shares of Weave Communications during the third quarter worth approximately $8,453,000. Finally, Engine Capital Management LP acquired a new position in shares of Weave Communications during the first quarter worth approximately $4,858,000. 86.83% of the stock is owned by institutional investors.

Weave Communications Stock Up 0.1%

Shares of NYSE:WEAV opened at $7.30 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market cap of $584.40 million, a price-to-earnings ratio of -29.22 and a beta of 1.69. The company has a 50 day moving average of $6.62 and a 200-day moving average of $5.74. Weave Communications, Inc. has a one year low of $4.24 and a one year high of $8.00.

Weave Communications (NYSE:WEAV - Get Free Report) last announced 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 net margin of 7.97% and a negative return on equity of 21.14%. The business had revenue of $67.54 million for the quarter, compared to analyst estimates of $67.88 million. On average, sell-side analysts forecast that Weave Communications, Inc. will post -0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WEAV. Piper Sandler lowered shares of Weave Communications from an "overweight" rating to a "hold" rating and lowered their price target for the company from $8.00 to $7.40 in a report on Tuesday, August 18th. Raymond James Financial downgraded Weave Communications from an "outperform" rating to a "market perform" rating in a report on Monday, August 24th. Wall Street Zen lowered Weave Communications from a "buy" rating to a "hold" rating in a research report on Sunday, August 23rd. Loop Capital cut Weave Communications from a "buy" rating to a "hold" rating and set a $7.40 target price for the company. in a research note on Wednesday, August 19th. Finally, UBS Group restated an "accumulate" rating on shares of Weave Communications in a research report on Tuesday, August 18th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $7.84.

Weave Communications Company Profile

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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