Insider Selling: Weave Communications, Inc. (NYSE:WEAV) Director Sells $1,042,161.12 in Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 74,228 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $14.04, for a total transaction of $1,042,161.12. Following the completion of the sale, the director now directly owns 286,320 shares in the company, valued at approximately $4,019,932.80. The trade was a 20.59 % 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 Stock Performance

Weave Communications stock opened at $13.27 on Friday. The stock has a market cap of $965.67 million, a price-to-earnings ratio of -33.18 and a beta of 2.08. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.64. The firm has a 50 day simple moving average of $12.74 and a 200-day simple moving average of $10.70. Weave Communications, Inc. has a 1-year low of $8.10 and a 1-year high of $14.50.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Weave Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WEAV. nVerses Capital LLC purchased a new position in shares of Weave Communications during the 3rd quarter worth approximately $45,000. Quarry LP acquired a new position in Weave Communications during the third quarter worth $45,000. Private Management Group Inc. purchased a new position in shares of Weave Communications during the second quarter worth $90,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Weave Communications by 48.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company’s stock valued at $90,000 after buying an additional 3,228 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC purchased a new stake in shares of Weave Communications in the 2nd quarter valued at $98,000. Hedge funds and other 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.