Insider Selling: Weave Communications, Inc. (NYSE:WEAV) Director Sells 121,148 Shares of Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 121,148 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $14.05, for a total transaction of $1,702,129.40. Following the completion of the sale, the director now directly owns 296,182 shares of the company’s stock, valued at approximately $4,161,357.10. 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 is accessible through this hyperlink.

Weave Communications Stock Up 5.9 %

NYSE WEAV opened at $13.97 on Thursday. Weave Communications, Inc. has a 1-year low of $7.76 and a 1-year high of $14.34. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of -34.93 and a beta of 2.08. The stock’s 50 day moving average is $12.34 and its two-hundred day moving average is $10.57. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.09.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WEAV. Loop Capital upped their price objective on shares of Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group upped 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 lifted their price objective on Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $16.50.

Institutional Trading of Weave Communications

Several institutional investors have recently bought and sold shares of the stock. Pathway Capital Management LP bought a new position in shares of Weave Communications during the third quarter valued at $7,308,000. Summit Global Investments acquired a new stake in shares of Weave Communications during the 3rd quarter worth about $460,000. Principal Financial Group Inc. lifted its holdings in Weave Communications by 139.0% during the 3rd quarter. Principal Financial Group Inc. now owns 89,768 shares of the company’s stock valued at $1,149,000 after purchasing an additional 52,210 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in Weave Communications during the 3rd quarter valued at about $1,904,000. Finally, US Bancorp DE acquired a new position in Weave Communications in the third quarter valued at about $107,000. Institutional investors and hedge funds own 86.83% of the company’s stock.

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.