Susquehanna International Group LLP Has $92,000 Position in Weave Communications, Inc. $WEAV

Susquehanna International Group LLP cut its stake in Weave Communications, Inc. (NYSE:WEAV) by 90.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,423 shares of the company’s stock after selling 146,536 shares during the quarter. Susquehanna International Group LLP’s holdings in Weave Communications were worth $92,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Hilton Head Capital Partners LLC bought a new position in Weave Communications during the 4th quarter worth approximately $26,000. Optiver Holding B.V. increased its stake in Weave Communications by 1,201.2% in the first quarter. Optiver Holding B.V. now owns 7,339 shares of the company’s stock valued at $34,000 after purchasing an additional 6,775 shares in the last quarter. Legal & General Group Plc acquired a new stake in Weave Communications in the second quarter worth $38,000. Amundi raised its holdings in Weave Communications by 27.1% in the first quarter. Amundi now owns 5,301 shares of the company’s stock worth $59,000 after purchasing an additional 1,130 shares during the period. Finally, Focus Partners Advisor Solutions LLC bought a new position in shares of Weave Communications during the second quarter worth $60,000. 86.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Raymond James Financial cut shares of Weave Communications from an “outperform” rating to a “market perform” rating in a research report on Monday, August 24th. B. Riley Financial cut Weave Communications from a “buy” rating to a “hold” rating and decreased their target price for the company from $8.25 to $7.40 in a research note on Wednesday, August 19th. Piper Sandler downgraded Weave Communications from an “overweight” rating to a “hold” rating and lowered their price target for the stock from $8.00 to $7.40 in a report on Tuesday, August 18th. Wall Street Zen cut Weave Communications from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Weave Communications in a research note on Wednesday, July 8th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $7.84.

Weave Communications Price Performance

WEAV stock opened at $7.30 on Thursday. The stock has a 50-day moving average price of $6.62 and a two-hundred day moving average price of $5.74. Weave Communications, Inc. has a 1 year low of $4.24 and a 1 year high of $8.00. The stock has a market cap of $584.40 million, a PE ratio of -29.22 and a beta of 1.69. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09.

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

Weave Communications Company 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.