Weave Communications, Inc. $WEAV Shares Bought by Huber Capital Management LLC

Huber Capital Management LLC boosted its stake in shares of Weave Communications, Inc. (NYSE:WEAV) by 168.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 599,048 shares of the company’s stock after acquiring an additional 375,720 shares during the period. Huber Capital Management LLC’s holdings in Weave Communications were worth $4,002,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Amundi grew its position in Weave Communications by 27.1% in the 1st quarter. Amundi now owns 5,301 shares of the company’s stock valued at $59,000 after buying an additional 1,130 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Weave Communications by 6.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,918 shares of the company’s stock valued at $265,000 after purchasing an additional 1,457 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Weave Communications by 50.3% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,220 shares of the company’s stock valued at $152,000 after buying an additional 6,100 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Weave Communications by 36.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 488,956 shares of the company’s stock valued at $4,068,000 after purchasing an additional 131,188 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Weave Communications during the 2nd quarter worth approximately $141,000. Institutional investors and hedge funds own 86.83% of the company’s stock.

Weave Communications Stock Performance

WEAV traded up $0.13 during midday trading on Friday, hitting $4.88. 200,098 shares of the company traded hands, compared to its average volume of 2,026,001. The firm has a market capitalization of $383.42 million, a PE ratio of -13.48 and a beta of 1.73. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average is $6.14 and its 200 day moving average is $6.65. Weave Communications, Inc. has a 52 week low of $4.65 and a 52 week high of $12.19.

Weave Communications (NYSE:WEAV) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.03 EPS for the quarter, hitting 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, research analysts expect that Weave Communications, Inc. will post -0.33 EPS for the current year.

Insider Activity at Weave Communications

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

Wall Street Analyst Weigh In

WEAV has been the topic of several research analyst reports. Raymond James Financial cut shares of Weave Communications from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, January 6th. Stifel Nicolaus decreased their price objective on shares of Weave Communications from $11.00 to $9.00 and set a “buy” rating for the company in a report on Friday, February 20th. Piper Sandler cut their target price 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. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Weave Communications in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.00.

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.