Weave Communications, Inc. $WEAV Stock: Gagnon Securities LLC Trims Position

Gagnon Securities LLC lessened its holdings in Weave Communications, Inc. (NYSE:WEAV) by 68.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,143 shares of the company’s stock after selling 108,027 shares during the period. Gagnon Securities LLC owned approximately 0.06% of Weave Communications worth $363,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Optiver Holding B.V. increased its position in shares of Weave Communications by 1,201.2% during the 1st quarter. Optiver Holding B.V. now owns 7,339 shares of the company’s stock worth $34,000 after purchasing an additional 6,775 shares during the last quarter. Legal & General Group Plc purchased a new stake in Weave Communications in the 2nd quarter valued at about $38,000. Integrated Wealth Concepts LLC purchased a new stake in Weave Communications in the 2nd quarter valued at about $54,000. Focus Partners Advisor Solutions LLC acquired a new position in Weave Communications in the second quarter valued at about $60,000. Finally, Two Sigma Securities LLC acquired a new position in Weave Communications in the second quarter valued at about $62,000. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WEAV shares. Raymond James Financial cut shares of Weave Communications from an “outperform” rating to a “market perform” rating in a research report on Monday, August 24th. Loop Capital downgraded shares of Weave Communications from a “buy” rating to a “hold” rating and set a $7.40 price target on the stock. in a research note on Wednesday, August 19th. UBS Group restated an “accumulate” rating on shares of Weave Communications in a report on Tuesday, August 18th. Weiss Ratings raised shares of Weave Communications from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 20th. Finally, Wall Street Zen cut shares of Weave Communications from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Weave Communications has a consensus rating of “Hold” and a consensus target price of $7.80.

Weave Communications Price Performance

Weave Communications stock opened at $7.42 on Thursday. The firm has a market cap of $593.51 million, a PE ratio of -29.68 and a beta of 1.68. Weave Communications, Inc. has a 52-week low of $4.24 and a 52-week high of $7.70. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.09. The company’s 50 day moving average is $7.37 and its two-hundred day moving average is $6.19.

Weave Communications Company Profile

Weave Communications provides a cloud-based communications and workflow platform for small and midsize businesses. Its services are designed to help businesses manage customer interactions and coordinate day-to-day operations. The platform brings together tools such as business phone service, text messaging, appointment scheduling, payment processing, and online reputation management. Weave focuses particularly on healthcare practices, including dental, medical, and veterinary offices, as well as other local service businesses.