Insider Selling: Weave Communications, Inc. (NYSE:WEAV) Director Sells 92,930 Shares of Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 92,930 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $15.47, for a total transaction of $1,437,627.10. Following the transaction, the director now owns 207,979 shares in the company, valued at $3,217,435.13. This represents a 30.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Weave Communications Price Performance

Shares of Weave Communications stock traded down $0.10 during midday trading on Friday, hitting $15.46. 897,217 shares of the company traded hands, compared to its average volume of 539,880. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -38.65 and a beta of 2.00. 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 firm’s fifty day moving average price is $13.77 and its 200-day moving average price is $11.43. Weave Communications, Inc. has a 12 month low of $8.10 and a 12 month high of $15.93.

Institutional Trading of Weave Communications

A number of hedge funds and other institutional investors have recently modified their holdings of WEAV. Lord Abbett & CO. LLC raised its position in Weave Communications by 37.7% in the third quarter. Lord Abbett & CO. LLC now owns 873,411 shares of the company’s stock valued at $11,180,000 after purchasing an additional 239,202 shares during the last quarter. Geode Capital Management LLC grew its holdings in Weave Communications by 13.0% during the 3rd quarter. Geode Capital Management LLC now owns 883,207 shares of the company’s stock worth $11,308,000 after acquiring an additional 101,580 shares during the last quarter. Barclays PLC increased its position in Weave Communications by 31.9% in the 3rd quarter. Barclays PLC now owns 223,503 shares of the company’s stock valued at $2,861,000 after acquiring an additional 54,019 shares during the period. XTX Topco Ltd raised its stake in shares of Weave Communications by 429.2% during the third quarter. XTX Topco Ltd now owns 56,016 shares of the company’s stock valued at $717,000 after acquiring an additional 45,430 shares during the last quarter. Finally, Zacks Investment Management lifted its holdings in shares of Weave Communications by 6.4% during the third quarter. Zacks Investment Management now owns 149,990 shares of the company’s stock worth $1,920,000 after purchasing an additional 9,074 shares during the period. Institutional investors own 86.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. 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. Loop Capital lifted their price objective on Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Piper Sandler upped their price target on shares of Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average 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.