Scalar Gauge Management LLC Takes Position in Weave Communications, Inc. $WEAV

Scalar Gauge Management LLC purchased a new position in Weave Communications, Inc. (NYSE:WEAV) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 174,188 shares of the company’s stock, valued at approximately $1,164,000. Weave Communications accounts for about 0.6% of Scalar Gauge Management LLC’s portfolio, making the stock its 27th largest holding. Scalar Gauge Management LLC owned approximately 0.23% of Weave Communications as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Amundi boosted its position in Weave Communications by 27.1% during the first quarter. Amundi now owns 5,301 shares of the company’s stock worth $59,000 after purchasing an additional 1,130 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Weave Communications by 6.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,918 shares of the company’s stock worth $265,000 after buying an additional 1,457 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Weave Communications by 43.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,955 shares of the company’s stock worth $50,000 after buying an additional 1,812 shares in the last quarter. Gagnon Securities LLC boosted its position in shares of Weave Communications by 7.7% in the 2nd quarter. Gagnon Securities LLC now owns 45,214 shares of the company’s stock worth $376,000 after buying an additional 3,222 shares in the last quarter. Finally, Magnetar Financial LLC grew its stake in Weave Communications by 9.4% in the 2nd quarter. Magnetar Financial LLC now owns 47,662 shares of the company’s stock valued at $397,000 after acquiring an additional 4,079 shares during the last quarter. 86.83% of the stock is owned by hedge funds and other institutional investors.

Weave Communications Stock Performance

NYSE WEAV opened at $7.05 on Tuesday. The business’s 50-day moving average price is $6.78 and its 200 day moving average price is $7.09. 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 twelve month low of $5.64 and a twelve month high of $17.63. The company has a market capitalization of $550.11 million, a PE ratio of -16.39 and a beta of 1.70.

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

Insiders Place Their Bets

In other news, Director Tyler Newton sold 50,993 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $6.68, for a total transaction of $340,633.24. Following the completion of the sale, the director directly owned 50,992 shares of the company’s stock, valued at $340,626.56. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Erin Goodsell sold 9,615 shares of the stock in a transaction 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 completion of the transaction, the insider directly owned 527,055 shares in the company, valued at $3,631,408.95. This trade represents a 1.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 18.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Piper Sandler cut their target price on shares of Weave Communications from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Citigroup cut their price objective on Weave Communications from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Weave Communications in a research note on Monday, December 29th. Raymond James Financial downgraded Weave Communications from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, January 6th. Finally, Stifel Nicolaus cut their price target on Weave Communications from $13.00 to $11.00 and set a “buy” rating for the company in a report on Friday, October 31st. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $11.50.

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.