Renaissance Technologies LLC Cuts Stock Holdings in Weave Communications, Inc. $WEAV

Renaissance Technologies LLC reduced its stake in shares of Weave Communications, Inc. (NYSE:WEAV) by 12.2% during the first quarter, Holdings Channel reports. The institutional investor owned 1,487,900 shares of the company’s stock after selling 206,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Weave Communications were worth $6,874,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of WEAV. Amundi lifted its stake in shares of 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 acquiring an additional 1,130 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Weave Communications by 6.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,918 shares of the company’s stock worth $265,000 after acquiring an additional 1,457 shares during the last quarter. Russell Investments Group Ltd. grew its position in Weave Communications by 3.0% during the 4th quarter. Russell Investments Group Ltd. now owns 68,070 shares of the company’s stock worth $517,000 after acquiring an additional 2,009 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in Weave Communications by 9.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 26,489 shares of the company’s stock worth $201,000 after purchasing an additional 2,354 shares during the period. Finally, Deutsche Bank AG lifted its position in Weave Communications by 0.7% in the fourth quarter. Deutsche Bank AG now owns 353,591 shares of the company’s stock valued at $2,684,000 after purchasing an additional 2,366 shares during the last quarter. Hedge funds and other institutional investors own 86.83% of the company’s stock.

Weave Communications Price Performance

WEAV stock opened at $6.86 on Wednesday. The stock has a market capitalization of $545.77 million, a price-to-earnings ratio of -22.13 and a beta of 1.67. The firm’s 50-day moving average price is $6.21 and its two-hundred day moving average price is $5.73. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.08. Weave Communications, Inc. has a 12-month low of $4.24 and a 12-month high of $8.11.

Analyst Upgrades and Downgrades

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

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.