Wasatch Advisors LP Cuts Holdings in Weave Communications, Inc. $WEAV

Wasatch Advisors LP decreased its holdings in Weave Communications, Inc. (NYSE:WEAV) by 62.8% in the first quarter, Holdings Channel reports. The firm owned 661,702 shares of the company’s stock after selling 1,116,699 shares during the quarter. Wasatch Advisors LP’s holdings in Weave Communications were worth $3,057,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of WEAV. Hilton Head Capital Partners LLC bought a new position in shares of Weave Communications during the fourth quarter valued at $26,000. Amundi increased its holdings in Weave Communications by 27.1% in the 1st quarter. Amundi now owns 5,301 shares of the company’s stock worth $59,000 after buying an additional 1,130 shares in the last quarter. AXQ Capital LP bought a new stake in Weave Communications in the 3rd quarter worth about $67,000. CWM LLC raised its position in Weave Communications by 1,125.6% in the 4th quarter. CWM LLC now owns 9,033 shares of the company’s stock worth $69,000 after buying an additional 8,296 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Weave Communications by 119.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,683 shares of the company’s stock valued at $72,000 after acquiring an additional 4,731 shares during the period. Hedge funds and other institutional investors own 86.83% of the company’s stock.

Weave Communications Trading Up 8.2%

Shares of NYSE:WEAV opened at $5.89 on Friday. The stock has a 50 day moving average of $5.51 and a 200 day moving average of $5.81. The company has a market cap of $469.07 million, a PE ratio of -19.02 and a beta of 1.69. 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 $9.10.

Weave Communications (NYSE:WEAV) last released its earnings results on Thursday, April 30th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Weave Communications had a negative net margin of 10.05% and a negative return on equity of 26.46%. The company had revenue of $65.50 million for the quarter, compared to analysts’ expectations of $64.57 million. As a group, equities research analysts expect that Weave Communications, Inc. will post -0.27 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Weave Communications in a report on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $10.00.

Weave Communications 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.