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

Key Points

• Transmarket Holdings LP established a new position of 201,302 Weave Communications shares worth approximately $1.49 million, representing about 0.25% of the company and 0.8% of the fund’s portfolio.
• Institutional investors own approximately 86.83% of WEAV, with several funds recently initiating or increasing positions.
• Analyst sentiment is mostly cautious: the stock carries an average “Hold” rating and a $7.84 price target, while several firms recently downgraded it. WEAV was trading at $7.42, near its 52-week high.

Transmarket Holdings LP purchased a new stake in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 201,302 shares of the company's stock, valued at approximately $1,486,000. Weave Communications accounts for approximately 0.8% of Transmarket Holdings LP's portfolio, making the stock its 24th largest holding. Transmarket Holdings LP owned approximately 0.25% of Weave Communications at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Optiver Holding B.V. raised its holdings in Weave Communications by 1,201.2% in the 1st 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 in the last quarter. Legal & General Group Plc acquired a new stake in shares of Weave Communications during the 2nd quarter worth approximately $38,000. Integrated Wealth Concepts LLC bought a new stake in shares of Weave Communications during the second quarter valued at approximately $54,000. Focus Partners Advisor Solutions LLC bought a new stake in shares of Weave Communications during the second quarter valued at approximately $60,000. Finally, Two Sigma Securities LLC acquired a new position in shares of Weave Communications in the second quarter valued at $62,000. 86.83% of the stock is currently owned by institutional investors.

Weave Communications Trading Up 0.3%

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

Weave Communications (NYSE:WEAV - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.04 EPS 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 analyst estimates of $67.88 million. On average, sell-side analysts predict that Weave Communications, Inc. will post -0.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WEAV. B. Riley Financial downgraded shares of Weave Communications from a "buy" rating to a "hold" rating and decreased their price target for the stock from $8.25 to $7.40 in a research note on Wednesday, August 19th. Weiss Ratings upgraded shares of Weave Communications from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, October 20th. Loop Capital downgraded 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. Wall Street Zen downgraded shares of Weave Communications from a "buy" rating to a "hold" rating in a report on Sunday, August 23rd. Finally, Piper Sandler lowered shares of Weave Communications from an "overweight" rating to a "hold" rating and decreased their target price for the company from $8.00 to $7.40 in a research report on Tuesday, August 18th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $7.84.

About Weave Communications

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.

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