Insider Selling: Weave Communications, Inc. (NYSE:WEAV) Insider Sells 7,111 Shares of Stock

Weave Communications, Inc. (NYSE:WEAV) insider Branden Neish sold 7,111 shares of Weave Communications stock in a transaction on Monday, December 16th. The shares were sold at an average price of $15.95, for a total value of $113,420.45. Following the completion of the transaction, the insider now directly owns 512,122 shares of the company’s stock, valued at $8,168,345.90. This represents a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Branden Neish also recently made the following trade(s):

• On Tuesday, October 29th, Branden Neish sold 400 shares of Weave Communications stock. The stock was sold at an average price of $13.71, for a total transaction of $5,484.00.
• On Monday, October 21st, Branden Neish sold 1,308 shares of Weave Communications stock. The shares were sold at an average price of $13.72, for a total value of $17,945.76.
• On Wednesday, October 16th, Branden Neish sold 650 shares of Weave Communications stock. The stock was sold at an average price of $13.71, for a total value of $8,911.50.

Weave Communications Trading Down 2.8 %

Shares of Weave Communications stock traded down $0.44 during midday trading on Wednesday, reaching $15.48. The company had a trading volume of 865,506 shares, compared to its average volume of 545,912. The stock has a fifty day moving average price of $13.88 and a 200 day moving average price of $11.57. Weave Communications, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $16.33. The firm has a market cap of $1.13 billion, a PE ratio of -38.70 and a beta of 2.00. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WEAV. FMR LLC grew its holdings in Weave Communications by 161.9% in the third quarter. FMR LLC now owns 97,991 shares of the company’s stock worth $1,254,000 after purchasing an additional 60,574 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Weave Communications by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 435,099 shares of the company’s stock worth $5,569,000 after purchasing an additional 45,475 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Weave Communications by 17.8% during the 2nd quarter. Renaissance Technologies LLC now owns 593,500 shares of the company’s stock valued at $5,353,000 after buying an additional 89,600 shares during the last quarter. XTX Topco Ltd boosted its position in Weave Communications by 429.2% during the third quarter. XTX Topco Ltd now owns 56,016 shares of the company’s stock worth $717,000 after purchasing an additional 45,430 shares during the period. Finally, Summit Global Investments purchased a new position in shares of Weave Communications in the third quarter valued at $460,000. Institutional investors and hedge funds own 86.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WEAV. The Goldman Sachs Group increased their price target on Weave Communications from $13.00 to $14.50 and gave the company a “neutral” rating in a research note on Friday, November 1st. Loop Capital increased their target price on Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Piper Sandler lifted their price target on 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’s stock. According to data from MarketBeat.com, Weave Communications has an average rating of “Buy” and an average price target of $16.50.

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.