Weave Communications, Inc. (NYSE:WEAV) Director Sells $1,712,838.60 in Stock

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) Director Blake G. Modersitzki sold 103,620 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $16.53, for a total transaction of $1,712,838.60. Following the transaction, the director now owns 188,792 shares in the company, valued at $3,120,731.76. The trade was a 35.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Weave Communications Trading Up 2.7 %

Shares of WEAV stock traded up $0.44 on Tuesday, hitting $16.83. The stock had a trading volume of 590,267 shares, compared to its average volume of 760,647. The company's 50 day moving average price is $15.53 and its 200-day moving average price is $13.22. Weave Communications, Inc. has a 1 year low of $8.10 and a 1 year high of $16.86. 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 firm has a market capitalization of $1.22 billion, a P/E ratio of -42.06 and a beta of 1.91.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Loop Capital lifted 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. Piper Sandler lifted their target price on shares of Weave Communications from $16.00 to $17.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group lifted their price target on shares of Weave Communications from $13.00 to $14.50 and gave the company a "neutral" rating in a research report on Friday, November 1st. One equities research 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.com, Weave Communications presently has a consensus rating of "Buy" and a consensus price target of $16.50.

Institutional Trading of Weave Communications

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Los Angeles Capital Management LLC acquired a new position in shares of Weave Communications in the fourth quarter valued at approximately $162,000. Bank of New York Mellon Corp boosted its position in Weave Communications by 18.0% in the 4th quarter. Bank of New York Mellon Corp now owns 99,364 shares of the company's stock valued at $1,582,000 after buying an additional 15,171 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Weave Communications in the fourth quarter worth $437,000. Olympiad Research LP purchased a new stake in shares of Weave Communications during the fourth quarter worth $503,000. Finally, Principal Financial Group Inc. raised its stake in shares of Weave Communications by 33.0% in the fourth quarter. Principal Financial Group Inc. now owns 119,351 shares of the company's stock valued at $1,900,000 after acquiring an additional 29,583 shares in the last quarter. 86.83% of the stock is currently owned by hedge funds and other 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.