Insider Selling: Weave Communications, Inc. (NYSE:WEAV) Director Sells 40,907 Shares of Stock

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) Director Blake G. Modersitzki sold 40,907 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $16.47, for a total transaction of $673,738.29. Following the sale, the director now owns 199,261 shares of the company's stock, valued at approximately $3,281,828.67. This represents 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 available through the SEC website.

Weave Communications Stock Up 2.7 %

NYSE WEAV traded up $0.44 during trading hours on Tuesday, reaching $16.83. 590,267 shares of the company traded hands, compared to its average volume of 760,647. The stock has a market capitalization of $1.22 billion, a PE ratio of -42.06 and a beta of 1.91. The company has a current ratio of 1.59, a quick 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 $16.86. The company has a 50 day moving average of $15.53 and a two-hundred day moving average of $13.22.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WEAV shares. Loop Capital lifted their price objective on shares of Weave Communications from $15.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Piper Sandler lifted their price target on shares of 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 lifted their target price on Weave Communications from $13.00 to $14.50 and gave the stock a "neutral" rating in a research report on Friday, November 1st. 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 stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $16.50.

Hedge Funds Weigh In On Weave Communications

Hedge funds have recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in Weave Communications during the third quarter valued at approximately $45,000. Quarry LP acquired a new stake in shares of Weave Communications during the 3rd quarter valued at approximately $45,000. US Bancorp DE bought a new position in Weave Communications during the third quarter worth $107,000. Los Angeles Capital Management LLC acquired a new position in Weave Communications in the fourth quarter worth $162,000. Finally, Silverleafe Capital Partners LLC bought a new stake in Weave Communications during the fourth quarter valued at $206,000. 86.83% of the stock is currently owned by institutional investors and hedge funds.

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.