Weave Communications (NYSE:WEAV) Trading Down 3.1% – Time to Sell?

Weave Communications, Inc. (NYSE:WEAV) was down 3.1% during trading on Wednesday . The company traded as low as $13.86 and last traded at $13.95. Approximately 138,190 shares were traded during trading, a decline of 73% from the average daily volume of 517,629 shares. The stock had previously closed at $14.40.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WEAV shares. Piper Sandler raised 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. The Goldman Sachs Group raised their target price on shares of Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, Loop Capital raised their target price 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 investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Weave Communications has a consensus rating of “Buy” and an average target price of $16.50.

Weave Communications Trading Down 3.7 %

The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09. The firm’s 50-day moving average price is $13.39 and its 200-day moving average price is $11.12.

Insider Activity

In related news, CFO Alan Taylor sold 3,560 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $10.39, for a total value of $36,988.40. Following the completion of the transaction, the chief financial officer now directly owns 525,555 shares of the company’s stock, valued at approximately $5,460,516.45. This trade represents a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Blake G. Modersitzki sold 121,148 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $14.05, for a total transaction of $1,702,129.40. Following the completion of the transaction, the director now directly owns 296,182 shares of the company’s stock, valued at approximately $4,161,357.10. This trade represents a 29.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 505,241 shares of company stock worth $6,917,459 over the last quarter. Insiders own 36.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. boosted its stake in Weave Communications by 5.4% during the second quarter. Point72 Asset Management L.P. now owns 17,496 shares of the company’s stock worth $158,000 after buying an additional 896 shares during the period. California State Teachers Retirement System boosted its stake in Weave Communications by 6.6% during the first quarter. California State Teachers Retirement System now owns 34,685 shares of the company’s stock worth $398,000 after buying an additional 2,152 shares during the period. ClariVest Asset Management LLC boosted its stake in Weave Communications by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 82,194 shares of the company’s stock worth $741,000 after buying an additional 2,298 shares during the period. Truvestments Capital LLC boosted its stake in Weave Communications by 11.4% during the third quarter. Truvestments Capital LLC now owns 23,422 shares of the company’s stock worth $300,000 after buying an additional 2,405 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Weave Communications by 3.8% during the second quarter. AQR Capital Management LLC now owns 68,687 shares of the company’s stock worth $620,000 after buying an additional 2,516 shares during the period. 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.