Weave Communications, Inc. (NYSE:WEAV) Director Sells $108,713.50 in Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 6,230 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $17.45, for a total transaction of $108,713.50. Following the completion of the sale, the director now owns 188,042 shares in the company, valued at $3,281,332.90. This represents a 3.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Weave Communications Price Performance

Shares of NYSE:WEAV traded down $0.15 during midday trading on Tuesday, reaching $17.30. 659,054 shares of the company’s stock were exchanged, compared to its average volume of 792,924. Weave Communications, Inc. has a 12 month low of $8.10 and a 12 month high of $17.48. The firm has a market capitalization of $1.26 billion, a PE ratio of -43.24 and a beta of 1.91. The company’s 50 day simple moving average is $15.91 and its two-hundred day simple moving average is $13.53. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59.

Analysts Set New Price Targets

Several research firms have issued reports on WEAV. The Goldman Sachs Group raised their price target on shares of Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Piper Sandler raised their price objective 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. Finally, Loop Capital raised their price objective on shares of Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a report 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $16.50.

Hedge Funds Weigh In On Weave Communications

Several institutional investors have recently added to or reduced their stakes in WEAV. Wasatch Advisors LP lifted its holdings in Weave Communications by 40.9% during the 3rd 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 last quarter. Raymond James Financial Inc. acquired a new stake in Weave Communications in the 4th quarter valued at about $14,984,000. Vanguard Group Inc. increased its position in Weave Communications by 23.5% in the 4th quarter. Vanguard Group Inc. now owns 4,536,462 shares of the company’s stock valued at $72,220,000 after acquiring an additional 863,547 shares in the last quarter. Pathway Capital Management LP increased its position in Weave Communications by 136.3% in the 4th quarter. Pathway Capital Management LP now owns 1,349,365 shares of the company’s stock valued at $21,482,000 after acquiring an additional 778,413 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its position in Weave Communications by 37.7% in the 3rd 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 in the last quarter. 86.83% of the stock is owned by institutional investors.

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.