Insider Selling: Weave Communications, Inc. (NYSE:WEAV) Director Sells 192,266 Shares of Stock

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) Director Blake G. Modersitzki sold 192,266 shares of the firm's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $15.25, for a total value of $2,932,056.50. Following the completion of the sale, the director now owns 225,412 shares in the company, valued at $3,437,533. The trade was a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Weave Communications Price Performance

Shares of WEAV stock traded down $0.10 during midday trading on Friday, reaching $15.46. 897,217 shares of the company were exchanged, compared to its average volume of 539,880. Weave Communications, Inc. has a 12 month low of $8.10 and a 12 month high of $15.93. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59. The company has a market cap of $1.13 billion, a P/E ratio of -38.65 and a beta of 2.00. The company's 50 day moving average price is $13.77 and its two-hundred day moving average price is $11.43.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WEAV. The Goldman Sachs Group increased their price objective 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. Piper Sandler lifted their price target on Weave Communications from $16.00 to $17.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Finally, Loop Capital boosted 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. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Weave Communications has a consensus rating of "Buy" and an average price target of $16.50.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WEAV. nVerses Capital LLC purchased a new position in Weave Communications in the third quarter valued at about $45,000. Quarry LP bought a new position in shares of Weave Communications during the 3rd quarter worth about $45,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Weave Communications by 48.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company's stock valued at $90,000 after acquiring an additional 3,228 shares in the last quarter. Private Management Group Inc. bought a new position in Weave Communications in the second quarter worth $90,000. Finally, US Bancorp DE bought a new position in shares of Weave Communications during the 3rd quarter worth about $107,000. 86.83% of the stock is owned by hedge funds and other institutional investors.

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.

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