Insider Selling: Weave Communications, Inc. (NYSE:WEAV) Director Sells 17,255 Shares of Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 17,255 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $14.14, for a total value of $243,985.70. Following the transaction, the director now directly owns 279,000 shares in the company, valued at approximately $3,945,060. The trade was a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Weave Communications Trading Up 0.4 %

Shares of NYSE:WEAV traded up $0.05 during trading on Monday, reaching $13.72. The stock had a trading volume of 686,104 shares, compared to its average volume of 517,364. The business has a fifty day moving average price of $13.30 and a 200-day moving average price of $11.05. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The stock has a market cap of $998.40 million, a P/E ratio of -34.45 and a beta of 2.00. Weave Communications, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $14.50.

Institutional Investors Weigh In On Weave Communications

Several institutional investors have recently bought and sold shares of the business. AXA S.A. purchased a new position in shares of Weave Communications in the second quarter valued at $11,590,000. Wasatch Advisors LP raised its holdings in shares of Weave Communications by 40.9% during the third quarter. Wasatch Advisors LP now owns 3,760,837 shares of the company’s stock worth $48,139,000 after purchasing an additional 1,091,028 shares during the period. Pathway Capital Management LP acquired a new position in Weave Communications during the 3rd quarter valued at about $7,308,000. Vanguard Group Inc. boosted its position in shares of Weave Communications by 10.3% during the 1st quarter. Vanguard Group Inc. now owns 3,342,681 shares of the company’s stock valued at $38,374,000 after purchasing an additional 312,392 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Weave Communications by 19.5% during 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 in the last quarter. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of Weave Communications from $13.00 to $14.50 and gave the company a “neutral” rating in a report on Friday, November 1st. Loop Capital upped their price target on shares of Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Piper Sandler increased their price objective on shares of Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. One equities 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. According to MarketBeat.com, Weave Communications currently has an average rating of “Buy” and an average target price of $16.50.

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.