Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki Sells 74,228 Shares

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 74,228 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $14.04, for a total value of $1,042,161.12. Following the sale, the director now owns 286,320 shares in the company, valued at approximately $4,019,932.80. This trade represents a 20.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Weave Communications Stock Performance

Shares of Weave Communications stock opened at $13.27 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. Weave Communications, Inc. has a 52 week low of $8.10 and a 52 week high of $14.50. The firm’s 50 day moving average is $12.74 and its two-hundred day moving average is $10.70. The firm has a market capitalization of $965.67 million, a P/E ratio of -33.18 and a beta of 2.08.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Piper Sandler upped 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. 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 research report on Thursday, October 31st. Finally, The Goldman Sachs Group lifted their price objective on shares of Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st. One research 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $16.50.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WEAV. Wasatch Advisors LP grew its stake in Weave Communications by 40.9% during the 3rd quarter. Wasatch Advisors LP now owns 3,760,837 shares of the company’s stock worth $48,139,000 after buying an additional 1,091,028 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Weave Communications by 10.3% in the 1st quarter. Vanguard Group Inc. now owns 3,342,681 shares of the company’s stock valued at $38,374,000 after acquiring an additional 312,392 shares during the period. AXA S.A. purchased a new stake in Weave Communications in the 2nd quarter valued at $11,590,000. State Street Corp boosted its stake in Weave Communications by 19.5% during the 3rd quarter. State Street Corp now owns 950,683 shares of the company’s stock worth $12,169,000 after purchasing an additional 155,054 shares during the period. Finally, Acadian Asset Management LLC grew its position in Weave Communications by 1.0% during the 1st quarter. Acadian Asset Management LLC now owns 784,270 shares of the company’s stock worth $9,002,000 after purchasing an additional 7,511 shares during the last quarter. 86.83% of the stock is 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.