Weave Communications, Inc. (NYSE:WEAV) Director Sells $1,712,838.60 in Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 103,620 shares of Weave Communications stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $16.53, for a total transaction of $1,712,838.60. Following the transaction, the director now directly owns 188,792 shares of the company’s stock, valued at approximately $3,120,731.76. This represents a 35.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Weave Communications Trading Down 0.3 %

Shares of NYSE:WEAV opened at $16.35 on Friday. The business’s 50 day moving average is $15.48 and its 200 day moving average is $13.13. Weave Communications, Inc. has a 52-week low of $8.10 and a 52-week high of $16.86. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59.

Weave Communications (NYSE:WEAV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.08) EPS for the quarter. Weave Communications had a negative net margin of 14.64% and a negative return on equity of 28.01%. The firm had revenue of $52.39 million for the quarter, compared to analysts’ expectations of $51.47 million. During the same quarter in the prior year, the business posted ($0.10) EPS. Sell-side analysts predict that Weave Communications, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WEAV has been the subject of several analyst reports. Loop Capital raised their price objective 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. Piper Sandler raised their price target on Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group increased their target price on Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Weave Communications presently has a consensus rating of “Buy” and an average price target of $16.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WEAV. Point72 Asset Management L.P. lifted its position in shares of 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 purchasing an additional 896 shares during the period. Harbor Capital Advisors Inc. raised its stake in Weave Communications by 0.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 149,715 shares of the company’s stock worth $2,383,000 after buying an additional 937 shares in the last quarter. Truvestments Capital LLC lifted its holdings 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. AQR Capital Management LLC boosted its position in 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 acquiring an additional 2,516 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Weave Communications by 26.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,923 shares of the company’s stock valued at $144,000 after acquiring an additional 3,315 shares during the period. 86.83% of the stock is currently owned by institutional investors.

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.