Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki Sells 103,620 Shares

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 103,620 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $16.53, for a total transaction of $1,712,838.60. Following the sale, the director now owns 188,792 shares in the company, valued at approximately $3,120,731.76. The trade was a 35.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Weave Communications Stock Down 0.3 %

Shares of NYSE WEAV opened at $16.35 on Friday. The firm’s fifty day moving average is $15.48 and its two-hundred day moving average is $13.13. Weave Communications, Inc. has a 52-week low of $8.10 and a 52-week high of $16.86. 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 (NYSE:WEAV) last posted its earnings results on Wednesday, October 30th. The company reported ($0.08) EPS for the quarter. The firm 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 prior year, the firm posted ($0.10) earnings per share. On average, analysts forecast that Weave Communications, Inc. will post -0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on WEAV shares. Piper Sandler raised their price objective 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 raised their price target on 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 upped their price objective on Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. One investment 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 company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $16.50.

Institutional Trading of Weave Communications

Several hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. increased its position in Weave Communications by 33.0% in the fourth quarter. Principal Financial Group Inc. now owns 119,351 shares of the company’s stock worth $1,900,000 after purchasing an additional 29,583 shares during the last quarter. Gagnon Securities LLC bought a new stake in shares of Weave Communications in the 4th quarter worth about $524,000. SG Americas Securities LLC raised its position in shares of Weave Communications by 103.8% during the 4th quarter. SG Americas Securities LLC now owns 30,752 shares of the company’s stock valued at $490,000 after buying an additional 15,660 shares in the last quarter. Avanza Fonder AB bought a new position in shares of Weave Communications in the 4th quarter valued at about $318,000. Finally, Harbor Capital Advisors Inc. grew its position in Weave Communications by 0.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 149,715 shares of the company’s stock worth $2,383,000 after acquiring an additional 937 shares in the last quarter. 86.83% of the stock is owned by hedge funds and other institutional investors.

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.