Blake G. Modersitzki Sells 92,930 Shares of Weave Communications, Inc. (NYSE:WEAV) Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 92,930 shares of the stock in a transaction on 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 sale, the director now owns 207,979 shares of the company’s stock, valued at approximately $3,217,435.13. This trade represents a 30.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Weave Communications Stock Performance

Shares of WEAV stock traded down $0.10 during trading on Friday, hitting $15.46. The company’s stock had a trading volume of 897,217 shares, compared to its average volume of 539,880. The company has a market cap of $1.13 billion, a PE ratio of -38.65 and a beta of 2.00. Weave Communications, Inc. has a 52 week low of $8.10 and a 52 week high of $15.93. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09. The business has a fifty day moving average of $13.77 and a 200-day moving average of $11.43.

Institutional Investors Weigh In On Weave Communications

A number of hedge funds have recently modified their holdings of WEAV. Renaissance Technologies LLC raised its stake 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 purchasing an additional 89,600 shares during the period. XTX Topco Ltd boosted its stake in Weave Communications by 429.2% in the third quarter. XTX Topco Ltd now owns 56,016 shares of the company’s stock worth $717,000 after buying an additional 45,430 shares in the last quarter. Summit Global Investments bought a new position in Weave Communications during the third quarter valued at approximately $460,000. Pathway Capital Management LP purchased a new position in shares of Weave Communications during the third quarter worth approximately $7,308,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Weave Communications by 11.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 435,099 shares of the company’s stock worth $5,569,000 after acquiring an additional 45,475 shares during the last quarter. Institutional investors own 86.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WEAV shares. Loop Capital lifted their target price on Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group raised their price target on shares of Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Piper Sandler boosted 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 investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus 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.