Blake G. Modersitzki Sells 1,500 Shares of Weave Communications, Inc. (NYSE:WEAV) Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $16.45, for a total transaction of $24,675.00. Following the sale, the director now directly owns 201,879 shares of the company’s stock, valued at approximately $3,320,909.55. This trade represents a 0.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Weave Communications Trading Up 3.3 %

NYSE WEAV traded up $0.53 on Tuesday, hitting $16.34. 598,409 shares of the stock were exchanged, compared to its average volume of 701,465. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59. The stock has a fifty day moving average price of $15.32 and a two-hundred day moving average price of $13.04. The firm has a market capitalization of $1.19 billion, a P/E ratio of -40.84 and a beta of 1.92. Weave Communications, Inc. has a 52-week low of $8.10 and a 52-week high of $16.56.

Weave Communications (NYSE:WEAV) last announced 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 the consensus estimate 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. Research analysts forecast that Weave Communications, Inc. will post -0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Weave Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC grew its stake in shares of Weave Communications by 161.9% in the 3rd quarter. FMR LLC now owns 97,991 shares of the company’s stock valued at $1,254,000 after purchasing an additional 60,574 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Weave Communications by 11.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 435,099 shares of the company’s stock valued at $5,569,000 after buying an additional 45,475 shares in the last quarter. XTX Topco Ltd lifted its stake in Weave Communications by 429.2% in the 3rd quarter. XTX Topco Ltd now owns 56,016 shares of the company’s stock valued at $717,000 after buying an additional 45,430 shares in the last quarter. Pathway Capital Management LP purchased a new position in shares of Weave Communications during the 3rd quarter worth $7,308,000. Finally, Summit Global Investments purchased a new position in shares of Weave Communications during the 3rd quarter worth $460,000. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WEAV shares. The Goldman Sachs Group boosted their price target on shares of Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a report on Friday, November 1st. Loop Capital boosted their price target 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. Finally, Piper Sandler upped their price objective on shares of Weave Communications from $16.00 to $17.00 and gave the company an “overweight” 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 given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average 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.