Blake G. Modersitzki Sells 41,991 Shares of Weave Communications, Inc. (NYSE:WEAV) Stock

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) Director Blake G. Modersitzki sold 41,991 shares of the stock in a transaction dated 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 transaction, the director now directly owns 183,937 shares in the company, valued at $3,215,218.76. The trade was a 18.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Weave Communications Stock Down 15.6 %

Shares of NYSE:WEAV traded down $2.64 during trading on Friday, hitting $14.26. 7,749,728 shares of the company's stock traded hands, compared to its average volume of 1,003,562. The company has a 50-day moving average price of $16.25 and a 200-day moving average price of $13.81. Weave Communications, Inc. has a 52 week low of $8.10 and a 52 week high of $17.63. 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 company has a market cap of $1.04 billion, a price-to-earnings ratio of -35.64 and a beta of 1.91.

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

Hedge Funds Weigh In On Weave Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of Weave Communications by 161.9% in the third quarter. FMR LLC now owns 97,991 shares of the company's stock valued at $1,254,000 after purchasing an additional 60,574 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Weave Communications by 11.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 435,099 shares of the company's stock valued at $5,569,000 after buying an additional 45,475 shares during the last quarter. XTX Topco Ltd lifted its stake in Weave Communications by 429.2% in the 3rd quarter. XTX Topco Ltd now owns 56,016 shares of the company's stock valued at $717,000 after acquiring an additional 45,430 shares in the last quarter. Pathway Capital Management LP acquired a new position in Weave Communications during the 3rd quarter worth approximately $7,308,000. Finally, Summit Global Investments bought a new position in shares of Weave Communications during the 3rd quarter worth approximately $460,000. 86.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Piper Sandler upped their price target on Weave Communications from $16.00 to $17.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Loop Capital upped their target price 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. The Goldman Sachs Group increased their target price 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, Raymond James reissued a "strong-buy" rating and issued a $20.00 price target (up previously from $17.00) on shares of Weave Communications in a report on Friday. One investment 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, Weave Communications has a consensus 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.