Weave Communications, Inc. $WEAV Shares Acquired by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital increased its Weave Communications stake by 897.4% in the first quarter, ending with 364,240 shares worth approximately $1.68 million, or 0.46% of the company. Institutional investors collectively own 86.83% of WEAV.
• WEAV opened at $6.78, compared with a 12-month range of $4.24 to $8.11, and has a market capitalization of about $539.3 million. Its 50-day and 200-day moving averages were $6.23 and $5.73, respectively.
• Analyst sentiment is mixed, with three Buy ratings, one Hold and one Sell; the consensus rating is Hold, with an average price target of $8.33.

Arrowstreet Capital Limited Partnership grew its holdings in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 897.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 364,240 shares of the company's stock after acquiring an additional 327,721 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.46% of Weave Communications worth $1,683,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WEAV. Hilton Head Capital Partners LLC purchased a new stake in Weave Communications in the fourth quarter valued at $26,000. Amundi lifted its holdings in 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. Tower Research Capital LLC TRC boosted its position in Weave Communications by 119.7% in the 2nd 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 in the last quarter. CWM LLC increased its holdings in shares of Weave Communications by 1,125.6% during the 4th 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, RPO LLC acquired a new position in shares of Weave Communications in the 4th quarter valued at $81,000. Institutional investors and hedge funds own 86.83% of the company's stock.

Weave Communications Price Performance

NYSE:WEAV opened at $6.78 on Thursday. The stock has a 50 day moving average of $6.23 and a two-hundred day moving average of $5.73. Weave Communications, Inc. has a 12 month low of $4.24 and a 12 month high of $8.11. The firm has a market cap of $539.33 million, a P/E ratio of -21.86 and a beta of 1.67. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.08.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of Weave Communications in a research note on Wednesday, July 8th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Weave Communications currently has a consensus rating of "Hold" and an average target price of $8.33.

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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