Insider Selling: Weave Communications, Inc. (NYSE:WEAV) Director Sells 84,764 Shares of Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 84,764 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $16.49, for a total transaction of $1,397,758.36. Following the transaction, the director now owns 201,975 shares in the company, valued at $3,330,567.75. This represents a 29.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Weave Communications Stock Up 0.2 %

Weave Communications stock traded up $0.04 during trading on Friday, hitting $16.12. 591,181 shares of the company were exchanged, compared to its average volume of 557,376. The company has a market capitalization of $1.17 billion, a P/E ratio of -40.30 and a beta of 2.00. The business’s 50 day moving average is $14.26 and its 200 day moving average is $11.88. Weave Communications, Inc. has a 52 week low of $8.10 and a 52 week high of $16.56. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09.

Institutional Trading of Weave Communications

A number of hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. boosted its holdings 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 worth $158,000 after buying an additional 896 shares during the period. ClariVest Asset Management LLC lifted 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 purchasing an additional 2,298 shares during the last quarter. Truvestments Capital LLC grew its position in Weave Communications by 11.4% during the third quarter. Truvestments Capital LLC now owns 23,422 shares of the company’s stock valued at $300,000 after acquiring an additional 2,405 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Weave Communications by 3.8% during the 2nd quarter. AQR Capital Management LLC now owns 68,687 shares of the company’s stock valued at $620,000 after purchasing an additional 2,516 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 worth $90,000 after buying an additional 3,228 shares during the period. 86.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WEAV. Piper Sandler raised their price objective on Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. The Goldman Sachs Group boosted their price target on shares of Weave Communications from $13.00 to $14.50 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Loop Capital raised their price objective 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. 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.com, the stock presently has an average rating of “Buy” and a consensus price target of $16.50.

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.