Man Group plc Acquires Shares of 225,108 Weave Communications, Inc. $WEAV

Man Group plc bought a new stake in Weave Communications, Inc. (NYSE:WEAV) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 225,108 shares of the company’s stock, valued at approximately $1,348,000. Man Group plc owned about 0.28% of Weave Communications as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Amundi increased 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 acquiring an additional 1,130 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Weave Communications by 6.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,918 shares of the company’s stock worth $265,000 after acquiring an additional 1,457 shares during the period. Russell Investments Group Ltd. lifted its position in Weave Communications by 3.0% during the 4th quarter. Russell Investments Group Ltd. now owns 68,070 shares of the company’s stock worth $517,000 after acquiring an additional 2,009 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of Weave Communications by 9.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 26,489 shares of the company’s stock valued at $201,000 after purchasing an additional 2,354 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Weave Communications by 0.7% in the 4th quarter. Deutsche Bank AG now owns 353,591 shares of the company’s stock valued at $2,684,000 after purchasing an additional 2,366 shares during the last quarter. Institutional investors and hedge funds own 86.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on WEAV. Wall Street Zen cut Weave Communications from a “buy” rating to a “hold” rating in a research note on Sunday, August 23rd. UBS Group reiterated an “accumulate” rating on shares of Weave Communications in a research report on Tuesday, August 18th. Loop Capital cut shares of Weave Communications from a “buy” rating to a “hold” rating and set a $7.40 price objective on the stock. in a research note on Wednesday, August 19th. Weiss Ratings restated a “sell (e+)” rating on shares of Weave Communications in a research report on Wednesday, July 8th. Finally, Piper Sandler cut shares of Weave Communications from an “overweight” rating to a “hold” rating and reduced their target price for the stock from $8.00 to $7.40 in a research note on Tuesday, August 18th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.84.

Weave Communications Stock Up 0.1%

WEAV stock opened at $7.30 on Thursday. The company has a market cap of $584.40 million, a P/E ratio of -29.22 and a beta of 1.69. Weave Communications, Inc. has a 52 week low of $4.24 and a 52 week high of $8.00. The company’s 50-day moving average price is $6.62 and its 200 day moving average price is $5.74. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09.

Weave Communications (NYSE:WEAV) last issued its earnings results on Thursday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. Weave Communications had a negative net margin of 7.97% and a negative return on equity of 21.14%. The company had revenue of $67.54 million during the quarter, compared to analysts’ expectations of $67.88 million. On average, research analysts expect that Weave Communications, Inc. will post -0.22 earnings per share for the current fiscal year.

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.