Weave Communications, Inc. (NYSE:WEAV) Director Sells $141,089.50 in Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 9,050 shares of Weave Communications stock in a transaction on Monday, December 16th. The stock was sold at an average price of $15.59, for a total transaction of $141,089.50. Following the completion of the transaction, the director now directly owns 207,400 shares in the company, valued at approximately $3,233,366. The trade was a 4.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Weave Communications Stock Performance

Weave Communications stock opened at $16.12 on Friday. Weave Communications, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $16.33. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -40.30 and a beta of 2.00. The stock’s 50 day simple moving average is $13.98 and its two-hundred day simple moving average is $11.62. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59.

Institutional Investors Weigh In On Weave Communications

Several hedge funds have recently made changes to their positions in WEAV. Wasatch Advisors LP boosted its stake in 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 acquiring an additional 1,091,028 shares in the last quarter. AXA S.A. purchased a new position in shares of Weave Communications during the second quarter valued at approximately $11,590,000. State Street Corp boosted its position in shares of Weave Communications by 19.5% in 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 in the last quarter. Geode Capital Management LLC grew its stake in shares of Weave Communications by 13.0% in the third quarter. Geode Capital Management LLC now owns 883,207 shares of the company’s stock worth $11,308,000 after acquiring an additional 101,580 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in Weave Communications by 37.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 873,411 shares of the company’s stock valued at $11,180,000 after purchasing an additional 239,202 shares in the last quarter. 86.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WEAV has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted 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. Piper Sandler upped their target price on Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Loop Capital lifted their price target 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. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus 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.