Weave Communications, Inc. (NYSE:WEAV) Director Sells $1,307,482.44 in Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 74,756 shares of Weave Communications stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $17.49, for a total value of $1,307,482.44. Following the sale, the director now directly owns 179,153 shares of the company’s stock, valued at $3,133,385.97. This trade represents a 29.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Weave Communications Trading Down 1.5 %

Shares of WEAV opened at $17.03 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09. Weave Communications, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $17.63. The firm has a 50-day simple moving average of $16.22 and a 200-day simple moving average of $13.79.

Institutional Trading of Weave Communications

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of Weave Communications by 161.9% during the third quarter. FMR LLC now owns 97,991 shares of the company’s stock worth $1,254,000 after purchasing an additional 60,574 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Weave Communications by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 435,099 shares of the company’s stock worth $5,569,000 after buying an additional 45,475 shares during the last quarter. XTX Topco Ltd lifted its stake in shares of Weave Communications by 429.2% in the 3rd quarter. XTX Topco Ltd now owns 56,016 shares of the company’s stock worth $717,000 after acquiring an additional 45,430 shares during the period. Pathway Capital Management LP acquired a new stake in shares of Weave Communications in the 3rd quarter worth $7,308,000. Finally, Summit Global Investments purchased a new stake in shares of Weave Communications in the third quarter valued at about $460,000. 86.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.