Weave Communications (NYSE:WEAV) Shares Gap Down - Here's Why

Weave Communications, Inc. (NYSE:WEAV - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $14.02, but opened at $13.52. Weave Communications shares last traded at $12.43, with a volume of 365,128 shares changing hands.

Analyst Ratings Changes

Several research firms have recently issued reports on WEAV. Piper Sandler boosted their target price on Weave Communications from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Thursday. Loop Capital boosted their price objective on shares of Weave Communications from $15.00 to $18.00 and gave the company a "buy" rating in a report on Thursday. Finally, The Goldman Sachs Group upped their target price on shares of Weave Communications from $13.00 to $14.50 and gave the company a "neutral" rating in a research note on Friday. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $16.50.

Weave Communications Price Performance

The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.09. The company has a fifty day moving average price of $12.17 and a two-hundred day moving average price of $10.51. The firm has a market cap of $942.51 million, a P/E ratio of -33.10 and a beta of 2.10.

Insider Buying and Selling at Weave Communications

In other news, COO Marcus Bertilson sold 15,000 shares of the company's stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $10.67, for a total transaction of $160,050.00. Following the completion of the transaction, the chief operating officer now directly owns 337,682 shares of the company's stock, valued at $3,603,066.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Blake G. Modersitzki sold 51,332 shares of the firm's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $13.51, for a total transaction of $693,495.32. Following the transaction, the director now directly owns 306,852 shares of the company's stock, valued at approximately $4,145,570.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Marcus Bertilson sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $10.67, for a total value of $160,050.00. Following the completion of the sale, the chief operating officer now owns 337,682 shares of the company's stock, valued at approximately $3,603,066.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 156,248 shares of company stock valued at $1,986,355. 36.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Weave Communications

A number of hedge funds have recently added to or reduced their stakes in the stock. nVerses Capital LLC acquired a new stake in shares of Weave Communications during the 3rd quarter worth approximately $45,000. US Bancorp DE acquired a new stake in shares of Weave Communications in the 3rd quarter valued at $107,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of 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 purchasing an additional 3,228 shares during the last quarter. Private Management Group Inc. acquired a new position in shares of Weave Communications during the 2nd quarter worth $90,000. Finally, Kingswood Wealth Advisors LLC bought a new stake in shares of Weave Communications during the 2nd quarter worth $98,000. Institutional investors own 86.83% of the company's stock.

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.