Insider Selling: Weave Communications, Inc. (NYSE:WEAV) COO Sells 27,599 Shares of Stock

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) COO Marcus Bertilson sold 27,599 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $11.33, for a total transaction of $312,696.67. Following the transaction, the chief operating officer now owns 248,502 shares of the company's stock, valued at $2,815,527.66. This represents a 10.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Weave Communications Price Performance

Shares of WEAV stock traded up $0.32 during trading hours on Monday, reaching $12.02. The stock had a trading volume of 534,380 shares, compared to its average volume of 656,386. The stock's fifty day simple moving average is $14.53 and its 200 day simple moving average is $14.03. The firm has a market capitalization of $888.43 million, a PE ratio of -30.83 and a beta of 1.96. Weave Communications, Inc. has a 12 month low of $8.10 and a 12 month 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.

Weave Communications (NYSE:WEAV - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.12). Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. The firm had revenue of $54.17 million for the quarter, compared to analysts' expectations of $53.23 million. On average, equities research analysts predict that Weave Communications, Inc. will post -0.33 EPS for the current year.

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Wall Street Analysts Forecast Growth

Separately, Raymond James restated a "strong-buy" rating and set a $20.00 target price (up previously from $17.00) on shares of Weave Communications in a research report on Friday, February 21st.

Hedge Funds Weigh In On Weave Communications

A number of institutional investors have recently added to or reduced their stakes in WEAV. Principal Financial Group Inc. increased its holdings in shares of Weave Communications by 139.0% in the 3rd quarter. Principal Financial Group Inc. now owns 89,768 shares of the company's stock worth $1,149,000 after buying an additional 52,210 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Weave Communications in the third quarter valued at $291,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Weave Communications by 20.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 347,302 shares of the company's stock valued at $4,445,000 after purchasing an additional 58,359 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Weave Communications by 11.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 435,099 shares of the company's stock valued at $5,569,000 after purchasing an additional 45,475 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in shares of Weave Communications by 36.2% in the 3rd quarter. Algert Global LLC now owns 247,558 shares of the company's stock worth $3,169,000 after purchasing an additional 65,790 shares in the last quarter. 86.83% of the stock is currently owned by institutional investors.

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.