Insider Selling: Weave Communications, Inc. (NYSE:WEAV) CRO Sells 51,638 Shares of Stock

Weave Communications, Inc. (NYSE:WEAV) CRO Joseph David Mcneil sold 51,638 shares of Weave Communications stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $11.16, for a total transaction of $576,280.08. Following the completion of the transaction, the executive now directly owns 298,362 shares of the company’s stock, valued at $3,329,719.92. This trade represents a 14.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Weave Communications Stock Performance

Shares of NYSE WEAV opened at $11.63 on Friday. Weave Communications, Inc. has a 12-month low of $8.10 and a 12-month high of $17.63. The firm has a market capitalization of $859.09 million, a price-to-earnings ratio of -29.81 and a beta of 1.96. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09. The firm has a 50 day moving average of $14.67 and a 200 day moving average of $13.97.

Weave Communications (NYSE:WEAV) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. The business had revenue of $54.17 million for the quarter, compared to the consensus estimate of $53.23 million. On average, research analysts anticipate that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Raymond James restated a “strong-buy” rating and issued a $20.00 price objective (up from $17.00) on shares of Weave Communications in a report on Friday, February 21st.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Arcadia Wealth Management Inc. bought a new position in shares of Weave Communications during the 4th quarter valued at approximately $215,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Weave Communications by 37.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 82,947 shares of the company’s stock valued at $1,321,000 after purchasing an additional 22,448 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in Weave Communications during the fourth quarter valued at approximately $10,186,000. Squarepoint Ops LLC boosted its position in shares of Weave Communications by 28.6% in the fourth quarter. Squarepoint Ops LLC now owns 134,047 shares of the company’s stock worth $2,134,000 after purchasing an additional 29,806 shares during the period. Finally, Two Sigma Advisers LP increased its stake in shares of Weave Communications by 127.9% in the fourth quarter. Two Sigma Advisers LP now owns 596,300 shares of the company’s stock worth $9,493,000 after purchasing an additional 334,700 shares in the last quarter. Institutional investors own 86.83% of the company’s stock.

About Weave Communications

Weave Communications, Inc provides a customer experience and payments software platform in the United States and Canada. Its platform enables small and medium-sized healthcare businesses to maximize the value of their patient interactions and minimize the time and effort spent on manual or mundane tasks.