Newtyn Management LLC cut its holdings in Weave Communications, Inc. (NYSE:WEAV – Free Report) by 3.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,790,000 shares of the company’s stock after selling 210,000 shares during the period. Weave Communications comprises about 5.2% of Newtyn Management LLC’s holdings, making the stock its 6th biggest position. Newtyn Management LLC owned about 0.08% of Weave Communications worth $40,672,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Hilton Head Capital Partners LLC bought a new stake in Weave Communications during the fourth quarter worth $26,000. Optiver Holding B.V. grew its stake in Weave Communications by 1,201.2% in the 1st 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 during the period. Legal & General Group Plc bought a new position in Weave Communications in the 2nd quarter valued at $38,000. Amundi increased its position in shares of Weave Communications by 27.1% during the 1st quarter. Amundi now owns 5,301 shares of the company’s stock valued at $59,000 after purchasing an additional 1,130 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC purchased a new stake in shares of Weave Communications during the 2nd quarter valued at $60,000. 86.83% of the stock is owned by hedge funds and other institutional investors.
Weave Communications Trading Up 0.1%
Shares of Weave Communications stock opened at $7.30 on Monday. Weave Communications, Inc. has a 52-week low of $4.24 and a 52-week high of $8.00. The stock’s 50-day simple moving average is $6.50 and its 200 day simple moving average is $5.72. The stock has a market capitalization of $584 million, a P/E ratio of -29.20 and a beta of 1.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.25 and a current ratio of 1.25.
Analysts Set New Price Targets
WEAV has been the topic of a number of research analyst reports. Piper Sandler downgraded shares of Weave Communications from an “overweight” rating to a “hold” rating and cut their price target for the stock from $8.00 to $7.40 in a report on Tuesday, August 18th. Loop Capital lowered shares of Weave Communications from a “buy” rating to a “hold” rating and set a $7.40 price objective on the stock. in a research report on Wednesday, August 19th. B. Riley Financial cut shares of Weave Communications from a “buy” rating to a “hold” rating and lowered their price target for the stock from $8.25 to $7.40 in a report on Wednesday, August 19th. UBS Group reiterated an “accumulate” rating on shares of Weave Communications in a research note on Tuesday, August 18th. Finally, Raymond James Financial lowered Weave Communications from an “outperform” rating to a “market perform” rating in a report on Monday, August 24th. Two 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.84.
View Our Latest Research Report on Weave Communications
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.
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