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

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 40,907 shares of Weave Communications stock in a transaction that occurred on 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Weave Communications Trading Down 0.3 %

Shares of WEAV stock opened at $16.35 on Friday. The firm has a fifty day moving average price of $15.48 and a 200 day moving average price of $13.13. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09. Weave Communications, Inc. has a 12 month low of $8.10 and a 12 month high of $16.86.

Weave Communications (NYSE:WEAV) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.08) EPS for the quarter. The business had revenue of $52.39 million during the quarter, compared to analysts’ expectations of $51.47 million. Weave Communications had a negative net margin of 14.64% and a negative return on equity of 28.01%. During the same quarter in the previous year, the company posted ($0.10) EPS. As a group, sell-side analysts expect that Weave Communications, Inc. will post -0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on WEAV. Piper Sandler boosted their price target 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 boosted their target price on Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, 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 research report on Friday, November 1st. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $16.50.

Hedge Funds Weigh In On Weave Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WEAV. Wasatch Advisors LP raised its holdings 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 purchasing an additional 1,091,028 shares in the last quarter. State Street Corp grew 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 valued at $12,169,000 after buying an additional 155,054 shares during the last quarter. Geode Capital Management LLC lifted its position in Weave Communications by 13.0% in the third quarter. Geode Capital Management LLC now owns 883,207 shares of the company’s stock valued at $11,308,000 after acquiring an additional 101,580 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in Weave Communications by 37.7% in the third quarter. Lord Abbett & CO. LLC now owns 873,411 shares of the company’s stock valued at $11,180,000 after acquiring an additional 239,202 shares during the last quarter. Finally, Pathway Capital Management LP acquired a new position in Weave Communications in the third quarter valued at $7,308,000. 86.83% of the stock is owned by institutional investors and hedge funds.

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.