Weave Communications, Inc. (NYSE:WEAV) Director Sells $734,002.68 in Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 41,991 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $17.48, for a total value of $734,002.68. Following the completion of the sale, the director now owns 183,937 shares in the company, valued at $3,215,218.76. This trade represents a 18.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Weave Communications Trading Down 15.6 %

Shares of WEAV opened at $14.26 on Friday. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. Weave Communications, Inc. has a 12-month low of $8.10 and a 12-month high of $17.63. The firm has a market capitalization of $1.04 billion, a PE ratio of -35.64 and a beta of 1.91. The stock’s fifty day simple moving average is $16.23 and its 200-day simple moving average is $13.84.

Weave Communications (NYSE:WEAV) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.12). Weave Communications had a negative net margin of 14.64% and a negative return on equity of 28.01%. The firm had revenue of $54.17 million for the quarter, compared to analyst estimates of $53.23 million. As a group, research analysts predict that Weave Communications, Inc. will post -0.38 earnings per share for the current year.

Hedge Funds Weigh In On Weave Communications

Several hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Weave Communications by 37.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 82,947 shares of the company’s stock valued at $1,321,000 after buying an additional 22,448 shares during the period. Voloridge Investment Management LLC bought a new stake in shares of Weave Communications in the fourth quarter worth about $10,186,000. Squarepoint Ops LLC increased its holdings in shares of Weave Communications by 28.6% in the fourth quarter. Squarepoint Ops LLC now owns 134,047 shares of the company’s stock worth $2,134,000 after acquiring an additional 29,806 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Weave Communications by 127.9% in the fourth quarter. Two Sigma Advisers LP now owns 596,300 shares of the company’s stock worth $9,493,000 after acquiring an additional 334,700 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of Weave Communications by 113.6% in the fourth quarter. Two Sigma Investments LP now owns 654,428 shares of the company’s stock worth $10,418,000 after acquiring an additional 348,038 shares in the last quarter. Institutional investors and hedge funds own 86.83% of the company’s stock.

Analysts Set New Price Targets

WEAV has been the topic of a number of analyst reports. Raymond James reiterated a “strong-buy” rating and issued a $20.00 price target (up from $17.00) on shares of Weave Communications in a research report on Friday. 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 report on Friday, November 1st. Loop Capital increased 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. Finally, Piper Sandler increased their target price on Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Weave Communications currently has an average rating of “Buy” and a consensus target price of $17.50.

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.