Insider Selling: Weave Communications, Inc. (NYSE:WEAV) Insider Sells $328,952.26 in Stock

Weave Communications, Inc. (NYSE:WEAV) insider Branden Neish sold 20,741 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $15.86, for a total value of $328,952.26. Following the completion of the sale, the insider now owns 491,381 shares in the company, valued at approximately $7,793,302.66. The trade was a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Branden Neish also recently made the following trade(s):

• On Monday, December 16th, Branden Neish sold 7,111 shares of Weave Communications stock. The stock was sold at an average price of $15.95, for a total value of $113,420.45.

Weave Communications Price Performance

WEAV stock opened at $16.37 on Friday. The firm has a 50 day moving average of $15.43 and a 200-day moving average of $13.09. 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 market capitalization of $1.19 billion, a P/E ratio of -40.93 and a beta of 1.92. Weave Communications, Inc. has a 12 month low of $8.10 and a 12 month high of $16.72.

Weave Communications (NYSE:WEAV) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.08) EPS for the quarter. Weave Communications had a negative net margin of 14.64% and a negative return on equity of 28.01%. The firm had revenue of $52.39 million for the quarter, compared to analysts’ expectations of $51.47 million. During the same quarter last year, the firm earned ($0.10) earnings per share. As a group, sell-side analysts predict that Weave Communications, Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WEAV shares. Piper Sandler increased their target price on shares of Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Loop Capital lifted their price objective on shares of Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group increased their target price on Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $16.50.

Institutional Investors Weigh In On Weave Communications

Several large investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP increased its stake in Weave Communications by 40.9% in the 3rd quarter. Wasatch Advisors LP now owns 3,760,837 shares of the company’s stock worth $48,139,000 after acquiring an additional 1,091,028 shares during the last quarter. State Street Corp increased its position in shares of Weave Communications by 19.5% in the third quarter. State Street Corp now owns 950,683 shares of the company’s stock worth $12,169,000 after purchasing an additional 155,054 shares during the last quarter. Geode Capital Management LLC raised its stake in Weave Communications by 13.0% in the third quarter. Geode Capital Management LLC now owns 883,207 shares of the company’s stock valued at $11,308,000 after purchasing an additional 101,580 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in Weave Communications by 37.7% during the third quarter. Lord Abbett & CO. LLC now owns 873,411 shares of the company’s stock valued at $11,180,000 after purchasing an additional 239,202 shares during the last quarter. Finally, Pathway Capital Management LP purchased a new position in Weave Communications in the 3rd quarter worth approximately $7,308,000. Institutional investors own 86.83% of the company’s stock.

Weave Communications Company Profile

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.