Scalar Gauge Management LLC Takes $1.16 Million Position in Weave Communications, Inc. $WEAV

Scalar Gauge Management LLC bought a new stake in shares of Weave Communications, Inc. (NYSE:WEAV) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 174,188 shares of the company’s stock, valued at approximately $1,164,000. Weave Communications makes up 0.6% of Scalar Gauge Management LLC’s portfolio, making the stock its 27th biggest position.

Several other large investors have also recently added to or reduced their stakes in WEAV. Frontier Capital Management Co. LLC acquired a new position in shares of Weave Communications during the second quarter worth about $16,915,000. CenterBook Partners LP raised its position in shares of Weave Communications by 232.4% in the 2nd quarter. CenterBook Partners LP now owns 670,007 shares of the company’s stock valued at $5,574,000 after purchasing an additional 468,420 shares in the last quarter. Thrivent Financial for Lutherans purchased a new position in shares of Weave Communications during the 2nd quarter valued at approximately $3,649,000. Qube Research & Technologies Ltd grew its position in shares of Weave Communications by 157.2% during the second quarter. Qube Research & Technologies Ltd now owns 598,167 shares of the company’s stock worth $4,977,000 after buying an additional 365,591 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Weave Communications by 24.4% in the second quarter. Geode Capital Management LLC now owns 1,152,995 shares of the company’s stock worth $9,593,000 after buying an additional 225,865 shares during the last quarter. 86.83% of the stock is currently owned by institutional investors and hedge funds.

Weave Communications Stock Performance

Shares of WEAV stock opened at $7.05 on Tuesday. The business has a 50 day simple moving average of $6.78 and a 200 day simple moving average of $7.09. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $550.11 million, a price-to-earnings ratio of -16.39 and a beta of 1.70. Weave Communications, Inc. has a 12-month low of $5.64 and a 12-month high of $17.63.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

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 sale, the director owned 50,992 shares of the company’s stock, valued at $340,626.56. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Erin Goodsell sold 9,615 shares of the business’s 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 sale, the insider directly owned 527,055 shares in the company, valued at $3,631,408.95. This represents a 1.79% decrease in their position. The disclosure for this sale is available in the SEC filing. 18.40% of the stock is owned by company insiders.

Weave Communications Company Profile

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.