209,484 Shares in Weave Communications, Inc. $WEAV Purchased by Ieq Capital LLC

Ieq Capital LLC bought a new position in Weave Communications, Inc. (NYSE:WEAV) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 209,484 shares of the company’s stock, valued at approximately $1,255,000.

A number of other institutional investors have also recently made changes to their positions in WEAV. Wasatch Advisors LP grew its stake in shares of Weave Communications by 16.3% in the third quarter. Wasatch Advisors LP now owns 6,098,592 shares of the company’s stock worth $40,739,000 after acquiring an additional 855,253 shares during the period. 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 purchasing an additional 179,693 shares during the period. BlackRock Inc. bought a new position in Weave Communications during the second quarter valued at approximately $31,807,000. Gumshoe Capital Management LLC purchased a new stake in Weave Communications in the fourth quarter worth approximately $22,705,000. Finally, State Street Corp boosted its holdings in Weave Communications by 26.8% in the fourth quarter. State Street Corp now owns 2,172,391 shares of the company’s stock worth $16,488,000 after purchasing an additional 459,547 shares during the last quarter. Hedge funds and other institutional investors own 86.83% of the company’s stock.

Weave Communications Trading Up 0.3%

Shares of Weave Communications stock opened at $7.31 on Thursday. Weave Communications, Inc. has a twelve month low of $4.24 and a twelve month high of $8.00. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average price of $6.42 and a 200-day moving average price of $5.70. The firm has a market cap of $584.80 million, a price-to-earnings ratio of -29.24 and a beta of 1.67.

Weave Communications (NYSE:WEAV) last posted its earnings results on Thursday, August 6th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. The firm had revenue of $67.54 million during the quarter, compared to the consensus estimate of $67.88 million. Weave Communications had a negative return on equity of 21.14% and a negative net margin of 7.97%. Equities research analysts anticipate that Weave Communications, Inc. will post -0.22 EPS for the current fiscal year.

Analyst Ratings Changes

WEAV has been the subject of several research analyst reports. Loop Capital lowered 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. UBS Group restated an “accumulate” rating on shares of Weave Communications in a research note on Tuesday, August 18th. Piper Sandler cut shares of Weave Communications from an “overweight” rating to a “hold” rating and lowered their price objective for the stock from $8.00 to $7.40 in a research note on Tuesday, August 18th. Raymond James Financial lowered shares of Weave Communications from an “outperform” rating to a “market perform” rating in a research report on Monday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Weave Communications in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.84.

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.