226,731 Shares in Weave Communications, Inc. $WEAV Acquired by Irenic Capital Management LP

Irenic Capital Management LP bought a new position in Weave Communications, Inc. (NYSE:WEAV) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 226,731 shares of the company’s stock, valued at approximately $1,721,000.

Several other hedge funds have also modified their holdings of WEAV. Gumshoe Capital Management LLC acquired a new stake in shares of Weave Communications in the fourth quarter worth approximately $22,705,000. Disciplined Growth Investors Inc. MN acquired a new stake in shares of Weave Communications in the third quarter worth approximately $8,453,000. ArrowMark Colorado Holdings LLC acquired a new stake in shares of Weave Communications in the third quarter worth approximately $7,531,000. Wasatch Advisors LP boosted its position in shares of Weave Communications by 16.3% in the third quarter. Wasatch Advisors LP now owns 6,098,592 shares of the company’s stock worth $40,739,000 after acquiring an additional 855,253 shares during the last quarter. Finally, Meros Investment Management LP acquired a new stake in shares of Weave Communications in the fourth quarter worth approximately $4,341,000. 86.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on WEAV. Stifel Nicolaus decreased their target price on shares of Weave Communications from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Piper Sandler decreased their target price on shares of Weave Communications from $12.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Weave Communications in a research report on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $10.00.

Weave Communications Trading Down 2.8%

Shares of WEAV stock opened at $5.32 on Thursday. The stock has a market cap of $422.91 million, a price-to-earnings ratio of -17.14 and a beta of 1.69. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.08. Weave Communications, Inc. has a fifty-two week low of $4.24 and a fifty-two week high of $9.10. The firm’s 50 day moving average price is $5.44 and its two-hundred day moving average price is $5.85.

Weave Communications (NYSE:WEAV) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $65.50 million for the quarter, compared to analysts’ expectations of $64.57 million. Weave Communications had a negative net margin of 10.05% and a negative return on equity of 26.46%. On average, analysts anticipate that Weave Communications, Inc. will post -0.27 EPS 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.