Insider Selling: Weave Communications, Inc. (NYSE:WEAV) Director Sells 84,764 Shares of Stock

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) Director Blake G. Modersitzki sold 84,764 shares of Weave Communications stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $16.49, for a total transaction of $1,397,758.36. Following the completion of the transaction, the director now directly owns 201,975 shares in the company, valued at $3,330,567.75. This represents a 29.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Weave Communications Stock Performance

Shares of NYSE WEAV traded up $0.04 during trading hours on Friday, hitting $16.12. 591,181 shares of the stock were exchanged, compared to its average volume of 557,376. The firm has a market capitalization of $1.17 billion, a P/E ratio of -40.30 and a beta of 2.00. Weave Communications, Inc. has a one year low of $8.10 and a one year high of $16.56. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59. The company's 50 day moving average is $14.26 and its 200 day moving average is $11.88.

Institutional Investors Weigh In On Weave Communications

Hedge funds have recently bought and sold shares of the company. Wasatch Advisors LP boosted its holdings in Weave Communications by 40.9% in the 3rd quarter. Wasatch Advisors LP now owns 3,760,837 shares of the company's stock valued at $48,139,000 after purchasing an additional 1,091,028 shares during the period. AXA S.A. acquired a new stake in Weave Communications during the second quarter worth about $11,590,000. State Street Corp grew its position in Weave Communications by 19.5% during the third quarter. State Street Corp now owns 950,683 shares of the company's stock worth $12,169,000 after buying an additional 155,054 shares in the last quarter. Geode Capital Management LLC increased its stake in Weave Communications by 13.0% during the third quarter. Geode Capital Management LLC now owns 883,207 shares of the company's stock valued at $11,308,000 after acquiring an additional 101,580 shares during the period. Finally, Lord Abbett & CO. LLC raised its holdings in Weave Communications by 37.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 873,411 shares of the company's stock valued at $11,180,000 after acquiring an additional 239,202 shares in the last quarter. 86.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Loop Capital upped their target price on Weave Communications from $15.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Piper Sandler lifted their target price on shares of Weave Communications from $16.00 to $17.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their price target on Weave Communications from $13.00 to $14.50 and gave the company a "neutral" rating in a research note on Friday, November 1st. One investment 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 company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $16.50.

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.