Weave Communications, Inc. $WEAV Shares Sold by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. cut its stake in Weave Communications by 73.8% in Q3, selling 215,915 shares and retaining 76,537 shares worth roughly $511,000.
• Other institutions increased positions—Wasatch Advisors now holds 6,098,592 shares and Vanguard 5,465,810—leaving institutional and hedge fund ownership at about 86.83%.
• WEAV trades near $4.85 (up 4.6%) with a 52‑week range of $4.24–$11.32, shows negative profitability (net margin -11.74%, ROE -33.06%), and carries an average analyst rating of Hold with a $10 consensus target.

JPMorgan Chase & Co. trimmed its holdings in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) by 73.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,537 shares of the company's stock after selling 215,915 shares during the period. JPMorgan Chase & Co. owned about 0.10% of Weave Communications worth $511,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wasatch Advisors LP lifted its position in Weave Communications by 16.3% during the third quarter. Wasatch Advisors LP now owns 6,098,592 shares of the company's stock valued at $40,739,000 after buying an additional 855,253 shares in the last quarter. Vanguard Group Inc. lifted its position in Weave Communications by 3.4% during the third quarter. Vanguard Group Inc. now owns 5,465,810 shares of the company's stock valued at $36,512,000 after buying an additional 179,693 shares in the last quarter. Disciplined Growth Investors Inc. MN acquired a new position in Weave Communications during the third quarter valued at approximately $8,453,000. Thrivent Financial for Lutherans lifted its position in shares of Weave Communications by 158.4% during the third quarter. Thrivent Financial for Lutherans now owns 1,133,532 shares of the company's stock worth $7,572,000 after purchasing an additional 694,935 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC acquired a new position in shares of Weave Communications during the third quarter worth $7,531,000. 86.83% of the stock is owned by institutional investors and hedge funds.

Weave Communications Trading Up 4.6%

NYSE WEAV opened at $4.85 on Tuesday. The company's fifty day simple moving average is $5.19 and its 200-day simple moving average is $6.19. Weave Communications, Inc. has a 52 week low of $4.24 and a 52 week high of $11.32. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.08. The stock has a market cap of $381.06 million, a P/E ratio of -13.46 and a beta of 1.71.

Weave Communications (NYSE:WEAV - Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.03. The business had revenue of $63.40 million during the quarter, compared to analyst estimates of $63.19 million. Weave Communications had a negative net margin of 11.74% and a negative return on equity of 33.06%. Equities research analysts predict that Weave Communications, Inc. will post -0.33 EPS for the current fiscal year.

Analysts Set New Price Targets

WEAV has been the topic of a number of recent research reports. Stifel Nicolaus reduced their target price on shares of Weave Communications from $11.00 to $9.00 and set a "buy" rating on the stock in a research report on Friday, February 20th. Raymond James Financial cut shares of Weave Communications from a "strong-buy" rating to a "moderate buy" rating in a research report on Tuesday, January 6th. Piper Sandler reduced their target price on shares of Weave Communications from $12.00 to $8.00 and set an "overweight" rating on the stock in a research report on Friday, February 20th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Weave Communications in a research report on Friday, March 27th. Three investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $10.00.

Insider Activity

In related news, CRO Joseph David Mcneil sold 25,000 shares of Weave Communications stock in a transaction on Friday, March 6th. The shares were sold at an average price of $5.53, for a total value of $138,250.00. Following the completion of the sale, the executive owned 505,721 shares in the company, valued at approximately $2,796,637.13. The trade was a 4.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 18.40% of the company's stock.

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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