Weave Communications, Inc. (NYSE:WEAV) Director Sells $734,002.68 in Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 41,991 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $17.48, for a total transaction of $734,002.68. Following the completion of the sale, the director now directly owns 183,937 shares in the company, valued at approximately $3,215,218.76. The trade was a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Weave Communications Trading Down 0.5 %

WEAV stock opened at $16.95 on Friday. The company’s 50-day simple moving average is $16.25 and its 200-day simple moving average is $13.81. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. Weave Communications, Inc. has a 52-week low of $8.10 and a 52-week high of $17.63. The firm has a market cap of $1.23 billion, a P/E ratio of -42.36 and a beta of 1.91.

Weave Communications (NYSE:WEAV) last posted its earnings results on Thursday, February 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.12). Weave Communications had a negative return on equity of 28.01% and a negative net margin of 14.64%. As a group, equities analysts forecast that Weave Communications, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on WEAV. The Goldman Sachs Group upped their price target on shares of Weave Communications from $13.00 to $14.50 and gave the company a “neutral” rating in a report on Friday, November 1st. Piper Sandler upped their price target on shares of Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Loop Capital upped their price target on shares of Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, October 31st. 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 data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $16.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WEAV. Aquatic Capital Management LLC purchased a new position in Weave Communications in the 4th quarter valued at about $34,000. nVerses Capital LLC purchased a new position in Weave Communications in the 3rd quarter valued at about $45,000. Quarry LP purchased a new position in Weave Communications in the 3rd quarter valued at about $45,000. Amundi purchased a new position in Weave Communications in the 4th quarter valued at about $66,000. Finally, Summit Investment Advisors Inc. lifted its stake in Weave Communications by 28.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company’s stock valued at $66,000 after buying an additional 928 shares in the last quarter. 86.83% of the stock is owned by hedge funds and other institutional investors.

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.