CenterBook Partners LP Sells 339,894 Shares of Weave Communications, Inc. $WEAV

CenterBook Partners LP lowered its holdings in shares of Weave Communications, Inc. (NYSE:WEAV) by 31.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 725,939 shares of the company’s stock after selling 339,894 shares during the period. CenterBook Partners LP’s holdings in Weave Communications were worth $5,510,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Disciplined Growth Investors Inc. MN bought a new stake in Weave Communications in the 3rd quarter worth $8,453,000. ArrowMark Colorado Holdings LLC bought a new stake in Weave Communications in the 3rd quarter worth $7,531,000. Wasatch Advisors LP grew its holdings in Weave Communications by 16.3% in the 3rd 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. Huber Capital Management LLC grew its holdings in Weave Communications by 168.2% in the 3rd quarter. Huber Capital Management LLC now owns 599,048 shares of the company’s stock worth $4,002,000 after acquiring an additional 375,720 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in Weave Communications by 157.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 598,167 shares of the company’s stock worth $4,977,000 after acquiring an additional 365,591 shares during the last quarter. Institutional investors own 86.83% of the company’s stock.

Weave Communications Price Performance

Shares of Weave Communications stock opened at $5.69 on Monday. The company’s fifty day simple moving average is $5.32 and its two-hundred day simple moving average is $5.88. Weave Communications, Inc. has a 12-month low of $4.24 and a 12-month high of $10.04. 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 firm has a market cap of $452.51 million, a PE ratio of -18.34 and a beta of 1.69.

Weave Communications (NYSE:WEAV) last posted its earnings results on Thursday, April 30th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. Weave Communications had a negative net margin of 10.05% and a negative return on equity of 26.46%. The firm had revenue of $65.50 million during the quarter, compared to analysts’ expectations of $64.57 million. As a group, equities analysts expect that Weave Communications, Inc. will post -0.27 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Piper Sandler cut their price target on shares of Weave Communications from $12.00 to $8.00 and set an “overweight” rating on the stock in a report on Friday, February 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Weave Communications in a report on Friday, March 27th. Finally, Stifel Nicolaus cut their price target on shares of Weave Communications from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Weave Communications presently has an average rating of “Hold” and an average 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.