Insider Selling: Weave Communications, Inc. (NYSE:WEAV) Director Sells $673,738.29 in Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 40,907 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $16.47, for a total value of $673,738.29. Following the completion of the transaction, the director now directly owns 199,261 shares of the company’s stock, valued at $3,281,828.67. The trade was a 17.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Weave Communications Price Performance

Weave Communications stock opened at $16.35 on Monday. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -40.87 and a beta of 1.92. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The business has a 50-day simple moving average of $15.48 and a 200 day simple moving average of $13.18. Weave Communications, Inc. has a 52 week low of $8.10 and a 52 week high of $16.86.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Loop Capital increased their price objective on Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Piper Sandler increased 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. Finally, The Goldman Sachs Group boosted their price objective on shares of Weave Communications from $13.00 to $14.50 and gave the company a “neutral” rating in a research note on Friday, November 1st. 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 a consensus rating of “Buy” and a consensus price target of $16.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wasatch Advisors LP raised its stake in Weave Communications by 40.9% in the third quarter. Wasatch Advisors LP now owns 3,760,837 shares of the company’s stock valued at $48,139,000 after purchasing an additional 1,091,028 shares in the last quarter. State Street Corp increased its holdings in shares of Weave Communications by 19.5% in the 3rd quarter. State Street Corp now owns 950,683 shares of the company’s stock worth $12,169,000 after buying an additional 155,054 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Weave Communications by 13.0% during the 3rd quarter. Geode Capital Management LLC now owns 883,207 shares of the company’s stock valued at $11,308,000 after buying an additional 101,580 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Weave Communications by 37.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 873,411 shares of the company’s stock worth $11,180,000 after acquiring an additional 239,202 shares during the last quarter. Finally, Pathway Capital Management LP purchased a new position in Weave Communications in the third quarter worth $7,308,000. Hedge funds and other institutional investors own 86.83% of the company’s stock.

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.