Insider Selling: Weave Communications, Inc. (NYSE:WEAV) Director Sells 41,991 Shares of Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 41,991 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $17.48, for a total value of $734,002.68. Following the transaction, the director now owns 183,937 shares in the company, valued at approximately $3,215,218.76. This represents a 18.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Weave Communications Stock Down 1.5 %

Weave Communications stock traded down $0.26 during trading hours on Wednesday, reaching $17.03. The stock had a trading volume of 999,064 shares, compared to its average volume of 797,543. Weave Communications, Inc. has a 52 week low of $8.10 and a 52 week high of $17.63. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -42.56 and a beta of 1.91. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59. The business’s 50 day moving average price is $16.22 and its 200-day moving average price is $13.79.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Piper Sandler raised their target price on shares of Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group lifted their price objective 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. Finally, Loop Capital boosted their price objective on shares of Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $16.50.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WEAV. FMR LLC increased its position 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Weave Communications by 11.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 435,099 shares of the company’s stock worth $5,569,000 after acquiring an additional 45,475 shares in the last quarter. XTX Topco Ltd boosted its holdings in Weave Communications by 429.2% in the third quarter. XTX Topco Ltd now owns 56,016 shares of the company’s stock worth $717,000 after acquiring an additional 45,430 shares in the last quarter. Pathway Capital Management LP purchased a new stake in shares of Weave Communications during the third quarter worth about $7,308,000. Finally, Summit Global Investments purchased a new position in shares of Weave Communications in the 3rd quarter valued at approximately $460,000. Institutional investors 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.