Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki Sells 40,907 Shares

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 40,907 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $16.47, for a total transaction of $673,738.29. Following the completion of the sale, the director now owns 199,261 shares of the company’s stock, valued at $3,281,828.67. This trade represents a 17.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Weave Communications Stock Performance

Weave Communications stock opened at $16.35 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. The firm has a 50 day simple moving average of $15.48 and a 200-day simple moving average of $13.13. Weave Communications, Inc. has a 1-year low of $8.10 and a 1-year high of $16.86.

Weave Communications (NYSE:WEAV) last posted its earnings results on Wednesday, October 30th. The company reported ($0.08) earnings per share (EPS) for the quarter. Weave Communications had a negative return on equity of 28.01% and a negative net margin of 14.64%. The business had revenue of $52.39 million for the quarter, compared to analyst estimates of $51.47 million. During the same period last year, the business earned ($0.10) EPS. Sell-side analysts anticipate that Weave Communications, Inc. will post -0.38 earnings per share for the current year.

Institutional Trading of Weave Communications

A number of hedge funds and other institutional investors have recently modified their holdings of WEAV. Wasatch Advisors LP lifted its position in Weave Communications by 40.9% in the third quarter. Wasatch Advisors LP now owns 3,760,837 shares of the company’s stock valued at $48,139,000 after buying an additional 1,091,028 shares during the last quarter. Pathway Capital Management LP acquired a new position in shares of Weave Communications in the 3rd quarter worth approximately $7,308,000. Lord Abbett & CO. LLC boosted its position in shares of Weave Communications by 37.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 873,411 shares of the company’s stock worth $11,180,000 after purchasing an additional 239,202 shares during the period. State Street Corp increased its holdings in Weave Communications by 19.5% in the 3rd quarter. State Street Corp now owns 950,683 shares of the company’s stock valued at $12,169,000 after purchasing an additional 155,054 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in Weave Communications by 87.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 326,690 shares of the company’s stock valued at $4,182,000 after purchasing an additional 152,376 shares during the period. 86.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WEAV. Loop Capital increased 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, October 31st. The Goldman Sachs Group increased their price target on Weave Communications from $13.00 to $14.50 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Piper Sandler boosted their price objective on Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price 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.