Blake G. Modersitzki Sells 242,820 Shares of Weave Communications, Inc. (NYSE:WEAV) Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 242,820 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $14.38, for a total value of $3,491,751.60. Following the completion of the sale, the director now directly owns 244,616 shares in the company, valued at approximately $3,517,578.08. This represents a 49.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Weave Communications Trading Up 0.9 %

Weave Communications stock opened at $15.54 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59. Weave Communications, Inc. has a one year low of $8.10 and a one year high of $15.93. The stock has a market capitalization of $1.13 billion, a PE ratio of -38.85 and a beta of 2.00. The business’s fifty day moving average is $13.72 and its 200 day moving average is $11.38.

Analyst Ratings Changes

WEAV has been the topic of a number of recent research reports. The Goldman Sachs Group increased their target price on Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Piper Sandler increased their target price on Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Loop Capital increased their price objective on Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. 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. Based on data from MarketBeat.com, Weave Communications presently has a consensus rating of “Buy” and an average target price of $16.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. nVerses Capital LLC purchased a new position in Weave Communications in the third quarter worth about $45,000. Quarry LP purchased a new position in Weave Communications in the third quarter worth about $45,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Weave Communications by 48.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company’s stock worth $90,000 after purchasing an additional 3,228 shares during the last quarter. Private Management Group Inc. purchased a new position in Weave Communications in the second quarter worth about $90,000. Finally, US Bancorp DE purchased a new position in Weave Communications in the third quarter worth about $107,000. 86.83% of the stock is owned by hedge funds and other institutional investors.

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.