1,492,806 Shares in Weave Communications, Inc. $WEAV Bought by Pale Fire Capital SE

Pale Fire Capital SE acquired a new position in shares of Weave Communications, Inc. (NYSE:WEAV) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,492,806 shares of the company’s stock, valued at approximately $6,897,000. Weave Communications comprises about 0.6% of Pale Fire Capital SE’s holdings, making the stock its 20th biggest position.

Several other hedge funds also recently made changes to their positions in WEAV. Amundi raised its holdings in Weave Communications by 27.1% during the first quarter. Amundi now owns 5,301 shares of the company’s stock worth $59,000 after purchasing an additional 1,130 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Weave Communications by 6.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,918 shares of the company’s stock valued at $265,000 after purchasing an additional 1,457 shares in the last quarter. Creative Planning purchased a new stake in Weave Communications in the 2nd quarter valued at approximately $143,000. JPMorgan Chase & Co. increased its position in Weave Communications by 2.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 292,452 shares of the company’s stock worth $2,433,000 after purchasing an additional 7,651 shares during the period. Finally, Legal & General Group Plc increased its position in Weave Communications by 83.9% during the 2nd quarter. Legal & General Group Plc now owns 65,657 shares of the company’s stock worth $546,000 after purchasing an additional 29,958 shares during the period. Institutional investors and hedge funds own 86.83% of the company’s stock.

Weave Communications Price Performance

Shares of NYSE WEAV opened at $6.19 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.24 and a current ratio of 1.24. Weave Communications, Inc. has a one year low of $4.24 and a one year high of $8.11. The firm has a market capitalization of $492.46 million, a P/E ratio of -19.96 and a beta of 1.68. The company’s fifty day moving average is $6.06 and its two-hundred day moving average is $5.77.

Weave Communications (NYSE:WEAV) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating 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 business had revenue of $65.50 million during the quarter, compared to the consensus estimate of $64.57 million. Analysts forecast that Weave Communications, Inc. will post -0.27 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Weave Communications in a report on Wednesday, July 8th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Weave Communications 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.