ArrowMark Colorado Holdings LLC Takes Position in Weave Communications, Inc. $WEAV

ArrowMark Colorado Holdings LLC purchased a new position in Weave Communications, Inc. (NYSE:WEAV) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,127,421 shares of the company’s stock, valued at approximately $7,531,000. ArrowMark Colorado Holdings LLC owned about 1.44% of Weave Communications at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in WEAV. Raymond James Financial Inc. lifted its holdings in Weave Communications by 29.4% during the 3rd quarter. Raymond James Financial Inc. now owns 1,122,936 shares of the company’s stock valued at $7,501,000 after buying an additional 254,880 shares in the last quarter. Man Group plc grew its stake in Weave Communications by 74.4% in the 3rd quarter. Man Group plc now owns 52,904 shares of the company’s stock worth $353,000 after acquiring an additional 22,567 shares in the last quarter. Disciplined Growth Investors Inc. MN purchased a new position in shares of Weave Communications during the third quarter worth approximately $8,453,000. Comerica Bank increased its position in shares of Weave Communications by 24.9% during the third quarter. Comerica Bank now owns 240,748 shares of the company’s stock worth $1,608,000 after acquiring an additional 48,048 shares during the period. Finally, Huber Capital Management LLC raised its stake in shares of Weave Communications by 168.2% during the third quarter. Huber Capital Management LLC now owns 599,048 shares of the company’s stock valued at $4,002,000 after acquiring an additional 375,720 shares in the last quarter. Hedge funds and other institutional investors own 86.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WEAV. Stifel Nicolaus lowered their price target on Weave Communications from $11.00 to $9.00 and set a “buy” rating for the company in a report on Friday, February 20th. Raymond James Financial downgraded Weave Communications from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Weave Communications in a report on Monday, December 29th. Finally, Piper Sandler dropped their price target on Weave Communications from $12.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Weave Communications currently has a consensus rating of “Hold” and a consensus target price of $10.00.

Insider Transactions at Weave Communications

In related news, insider Erin Goodsell sold 9,615 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $6.89, for a total value of $66,247.35. Following the sale, the insider owned 527,055 shares in the company, valued at $3,631,408.95. This represents a 1.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Joseph David Mcneil sold 25,000 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $5.53, for a total transaction of $138,250.00. Following the completion of the transaction, the executive owned 505,721 shares in the company, valued at approximately $2,796,637.13. This trade represents a 4.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 18.40% of the company’s stock.

Weave Communications Trading Up 2.4%

NYSE:WEAV opened at $4.87 on Monday. The company has a market capitalization of $382.63 million, a P/E ratio of -13.51 and a beta of 1.73. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.08. Weave Communications, Inc. has a 12 month low of $4.65 and a 12 month high of $12.19. The firm has a fifty day simple moving average of $6.10 and a 200-day simple moving average of $6.62.

Weave Communications (NYSE:WEAV) last released its earnings results on Thursday, February 19th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. The firm had revenue of $63.40 million for the quarter, compared to the consensus estimate of $63.19 million. Weave Communications had a negative return on equity of 33.06% and a negative net margin of 11.74%. On average, equities research analysts anticipate that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

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.