Insider Selling: Weave Communications, Inc. (NYSE:WEAV) Director Sells 1,500 Shares of Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 1,500 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $16.45, for a total value of $24,675.00. Following the transaction, the director now directly owns 201,879 shares of the company’s stock, valued at $3,320,909.55. This represents a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Weave Communications Stock Up 3.3 %

Shares of WEAV stock traded up $0.53 during trading hours on Tuesday, hitting $16.34. 598,409 shares of the company’s stock traded hands, compared to its average volume of 701,465. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -40.84 and a beta of 1.92. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The stock’s fifty day simple moving average is $15.32 and its two-hundred day simple moving average is $13.04. Weave Communications, Inc. has a 12-month low of $8.10 and a 12-month high of $16.56.

Weave Communications (NYSE:WEAV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.08) EPS for the quarter. The company had revenue of $52.39 million during the quarter, compared to analysts’ expectations of $51.47 million. Weave Communications had a negative return on equity of 28.01% and a negative net margin of 14.64%. During the same quarter in the previous year, the firm earned ($0.10) EPS. On average, analysts expect that Weave Communications, Inc. will post -0.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WEAV. 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 note on Friday, November 1st. Loop Capital increased their price target on 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 raised their target price on Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $16.50.

Institutional Trading of Weave Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in WEAV. AQR Capital Management LLC increased its position in shares of Weave Communications by 3.8% during the second quarter. AQR Capital Management LLC now owns 68,687 shares of the company’s stock valued at $620,000 after acquiring an additional 2,516 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in Weave Communications during the 2nd quarter worth approximately $134,000. The Manufacturers Life Insurance Company lifted its position in shares of Weave Communications by 26.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,923 shares of the company’s stock worth $144,000 after buying an additional 3,315 shares during the last quarter. Algert Global LLC lifted its position in shares of Weave Communications by 2.6% during the 2nd quarter. Algert Global LLC now owns 181,768 shares of the company’s stock worth $1,640,000 after buying an additional 4,659 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in Weave Communications by 5.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 17,496 shares of the company’s stock valued at $158,000 after purchasing an additional 896 shares during the last quarter. Institutional investors and hedge funds 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.