Archon Capital Management LLC Invests $1.18 Million in Weave Communications, Inc. $WEAV

Archon Capital Management LLC purchased a new stake in shares of Weave Communications, Inc. (NYSE:WEAV) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 142,340 shares of the company’s stock, valued at approximately $1,184,000. Archon Capital Management LLC owned approximately 0.18% of Weave Communications as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new stake in shares of Weave Communications during the 1st quarter valued at $8,720,000. CenterBook Partners LP lifted its position in Weave Communications by 232.4% during the 2nd quarter. CenterBook Partners LP now owns 670,007 shares of the company’s stock valued at $5,574,000 after acquiring an additional 468,420 shares during the period. Voya Investment Management LLC boosted its stake in Weave Communications by 26.2% during the first quarter. Voya Investment Management LLC now owns 1,387,040 shares of the company’s stock worth $15,382,000 after acquiring an additional 287,785 shares in the last quarter. Geode Capital Management LLC boosted its stake in Weave Communications by 24.4% during the second quarter. Geode Capital Management LLC now owns 1,152,995 shares of the company’s stock worth $9,593,000 after acquiring an additional 225,865 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Weave Communications by 4.3% in the first quarter. Vanguard Group Inc. now owns 4,731,398 shares of the company’s stock worth $52,471,000 after purchasing an additional 194,936 shares during the period. Institutional investors own 86.83% of the company’s stock.

Weave Communications Stock Performance

Shares of NYSE WEAV opened at $6.34 on Friday. Weave Communications, Inc. has a 12-month low of $5.64 and a 12-month high of $17.63. The firm has a market capitalization of $494.32 million, a price-to-earnings ratio of -14.73 and a beta of 1.72. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $6.54 and a 200 day moving average of $7.64.

Weave Communications (NYSE:WEAV) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $61.34 million for the quarter, compared to analysts’ expectations of $60.67 million. Weave Communications had a negative net margin of 14.32% and a negative return on equity of 42.10%. On average, research analysts anticipate that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Piper Sandler dropped their price target on Weave Communications from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Stifel Nicolaus dropped their target price on Weave Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Citigroup cut their target price on Weave Communications from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, November 3rd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Weave Communications in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.50.

Insider Buying and Selling at Weave Communications

In related news, Director Tyler Newton sold 50,993 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $6.68, for a total transaction of $340,633.24. Following the completion of the transaction, the director directly owned 50,992 shares in the company, valued at approximately $340,626.56. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jason Paul Christiansen sold 3,897 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $7.50, for a total transaction of $29,227.50. Following the sale, the chief financial officer owned 313,484 shares in the company, valued at approximately $2,351,130. The trade was a 1.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 158,172 shares of company stock valued at $1,166,036 in the last ninety days. 18.40% of the stock is currently owned by company insiders.

Weave Communications Profile

Weave Communications, Inc provides a customer experience and payments software platform in the United States and Canada. Its platform enables small and medium-sized healthcare businesses to maximize the value of their patient interactions and minimize the time and effort spent on manual or mundane tasks.