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 firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $14.04, for a total transaction of $1,042,161.12. Following the sale, the director now directly owns 286,320 shares in the company, valued at approximately $4,019,932.80. The trade was a 20.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Weave Communications Stock Down 3.4 %

WEAV opened at $13.28 on Friday. Weave Communications, Inc. has a 52 week low of $8.10 and a 52 week high of $14.50. The business has a 50 day moving average price of $12.68 and a two-hundred day moving average price of $10.69. The company has a quick ratio of 1.64, a current ratio of 1.59 and a debt-to-equity ratio of 0.09.

Institutional Investors Weigh In On Weave Communications

Several hedge funds have recently modified their holdings of the stock. AXA S.A. purchased a new position in Weave Communications during the 2nd quarter worth $11,590,000. Wasatch Advisors LP lifted its position in Weave Communications by 40.9% in the third quarter. Wasatch Advisors LP now owns 3,760,837 shares of the company’s stock valued at $48,139,000 after purchasing an additional 1,091,028 shares during the period. Pathway Capital Management LP purchased a new stake in Weave Communications in the 3rd quarter valued at approximately $7,308,000. Vanguard Group Inc. increased its position in Weave Communications by 10.3% during the 1st quarter. Vanguard Group Inc. now owns 3,342,681 shares of the company’s stock worth $38,374,000 after purchasing an additional 312,392 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Weave Communications during the 1st quarter worth approximately $1,816,000. 86.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on WEAV shares. The Goldman Sachs Group boosted their price target on shares of Weave Communications from $13.00 to $14.50 and gave the company a “neutral” rating in a research report on Friday, November 1st. Loop Capital raised their price target 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, Piper Sandler boosted their price objective on Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target 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.