Insider Selling: Weave Communications, Inc. (NYSE:WEAV) Director Sells 74,756 Shares of Stock

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) Director Blake G. Modersitzki sold 74,756 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $17.49, for a total value of $1,307,482.44. Following the completion of the sale, the director now directly owns 179,153 shares in the company, valued at $3,133,385.97. This trade represents a 29.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Weave Communications Trading Down 15.6 %

Shares of NYSE:WEAV traded down $2.64 during trading on Friday, reaching $14.26. The stock had a trading volume of 7,749,728 shares, compared to its average volume of 1,003,562. 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 stock has a market cap of $1.04 billion, a P/E ratio of -35.64 and a beta of 1.91. The business has a fifty day moving average price of $16.25 and a 200-day moving average price of $13.81. Weave Communications, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $17.63.

Weave Communications (NYSE:WEAV - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.09) earnings per share 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 business had revenue of $54.17 million during the quarter, compared to analyst estimates of $53.23 million. As a group, analysts anticipate that Weave Communications, Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on WEAV shares. Piper Sandler upped their price target on shares of Weave Communications from $16.00 to $17.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. 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. Raymond James reiterated a "strong-buy" rating and set a $20.00 target price (up previously from $17.00) on shares of Weave Communications in a report on Friday. Finally, The Goldman Sachs Group raised their price target 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 equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $17.50.

Hedge Funds Weigh In On Weave Communications

Institutional investors have recently added to or reduced their stakes in the business. Aquatic Capital Management LLC acquired a new stake in Weave Communications in the 4th quarter worth about $34,000. nVerses Capital LLC purchased a new position in shares of Weave Communications during the 3rd quarter worth about $45,000. Quarry LP acquired a new stake in shares of Weave Communications in the third quarter worth approximately $45,000. Amundi purchased a new stake in Weave Communications in the fourth quarter valued at approximately $66,000. Finally, Summit Investment Advisors Inc. increased its position in Weave Communications by 28.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company's stock worth $66,000 after purchasing an additional 928 shares during the last quarter. 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.