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 stock in a transaction that occurred on Friday, January 24th. The shares were 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 $3,320,909.55. This represents a 0.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Weave Communications Price Performance

WEAV stock opened at $16.45 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59. The company’s 50-day moving average is $15.37 and its 200-day moving average is $13.06. The stock has a market capitalization of $1.20 billion, a PE ratio of -41.11 and a beta of 1.92. Weave Communications, Inc. has a 1 year low of $8.10 and a 1 year high of $16.56.

Weave Communications (NYSE:WEAV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.08) earnings per share (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 previous year, the company posted ($0.10) EPS. Equities research analysts expect that Weave Communications, Inc. will post -0.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Loop Capital lifted their price objective on Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Piper Sandler upped their target price on Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. One 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. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $16.50.

Hedge Funds Weigh In On Weave Communications

Large investors have recently modified their holdings of the company. Wasatch Advisors LP raised its holdings in Weave Communications by 40.9% during the third quarter. Wasatch Advisors LP now owns 3,760,837 shares of the company’s stock worth $48,139,000 after buying an additional 1,091,028 shares during the last quarter. Pathway Capital Management LP acquired a new stake in shares of Weave Communications in the 3rd quarter worth about $7,308,000. Lord Abbett & CO. LLC lifted its position in Weave Communications by 37.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 873,411 shares of the company’s stock valued at $11,180,000 after acquiring an additional 239,202 shares in the last quarter. State Street Corp boosted its stake in Weave Communications by 19.5% during the 3rd quarter. State Street Corp now owns 950,683 shares of the company’s stock valued at $12,169,000 after purchasing an additional 155,054 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Weave Communications by 87.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 326,690 shares of the company’s stock worth $4,182,000 after purchasing an additional 152,376 shares in the last quarter. 86.83% of the stock is currently owned by institutional investors.

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.