Federated Hermes Inc. Cuts Position in Weave Communications, Inc. $WEAV

Federated Hermes Inc. reduced its position in shares of Weave Communications, Inc. (NYSE:WEAV) by 54.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 195,698 shares of the company’s stock after selling 233,033 shares during the period. Federated Hermes Inc.’s holdings in Weave Communications were worth $1,307,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Scalar Gauge Management LLC purchased a new stake in Weave Communications in the third quarter valued at approximately $1,164,000. Andina Capital Management LLC raised its holdings in shares of Weave Communications by 102.6% in the third quarter. Andina Capital Management LLC now owns 35,489 shares of the company’s stock worth $237,000 after acquiring an additional 17,974 shares during the last quarter. Sterling Investment Counsel LLC acquired a new position in shares of Weave Communications in the third quarter valued at approximately $319,000. Avanza Fonder AB increased its stake in Weave Communications by 40.0% in the third quarter. Avanza Fonder AB now owns 20,963 shares of the company’s stock valued at $140,000 after purchasing an additional 5,992 shares during the last quarter. Finally, Inspire Investing LLC acquired a new position in Weave Communications during the third quarter worth approximately $454,000. Institutional investors and hedge funds own 86.83% of the company’s stock.

Insider Activity

In related news, insider Erin Goodsell sold 9,615 shares of Weave Communications stock in a transaction 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 completion of the sale, the insider owned 527,055 shares of the company’s stock, valued at approximately $3,631,408.95. The trade was a 1.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 18.40% of the company’s stock.

Weave Communications Price Performance

Shares of NYSE:WEAV opened at $5.96 on Friday. The business has a fifty day simple moving average of $6.84 and a 200 day simple moving average of $7.03. Weave Communications, Inc. has a 1 year low of $5.64 and a 1 year high of $17.63. The firm has a market cap of $464.67 million, a price-to-earnings ratio of -13.85 and a beta of 1.69. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.08.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WEAV. Stifel Nicolaus cut their target price on shares of Weave Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Piper Sandler reduced their price target on shares of Weave Communications from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Citigroup dropped their price objective on shares of Weave Communications from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. Raymond James Financial cut shares of Weave Communications from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, January 6th. 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 issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $11.50.

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.