Insider Selling: Weave Communications, Inc. (NYSE:WEAV) Director Sells 103,620 Shares of Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 103,620 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $16.53, for a total value of $1,712,838.60. Following the completion of the transaction, the director now directly owns 188,792 shares in the company, valued at $3,120,731.76. This trade represents a 35.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Weave Communications Price Performance

WEAV stock opened at $16.35 on Monday. The company has a market capitalization of $1.19 billion, a PE ratio of -40.87 and a beta of 1.92. The company’s fifty day moving average price is $15.48 and its 200-day moving average price is $13.18. Weave Communications, Inc. has a one year low of $8.10 and a one year high of $16.86. 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 Trading of Weave Communications

Several hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC bought a new stake in Weave Communications in the third quarter worth $45,000. Quarry LP bought a new position in shares of Weave Communications during the 3rd quarter valued at approximately $45,000. US Bancorp DE bought a new position in Weave Communications during the third quarter valued at $107,000. The Manufacturers Life Insurance Company raised its position in Weave Communications by 26.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,923 shares of the company’s stock worth $144,000 after purchasing an additional 3,315 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in shares of Weave Communications by 5.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 17,496 shares of the company’s stock worth $158,000 after acquiring an additional 896 shares during the last quarter. Hedge funds and other institutional investors own 86.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on WEAV. Loop Capital raised their target price on shares of Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. The Goldman Sachs Group raised their price objective 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. Finally, 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 report on Thursday, October 31st. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Weave Communications presently has a consensus rating of “Buy” and an average target price of $16.50.

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.