Insider Selling: Weave Communications, Inc. (NYSE:WEAV) Insider Sells 20,741 Shares of Stock

Weave Communications, Inc. (NYSE:WEAV) insider Branden Neish sold 20,741 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $15.86, for a total value of $328,952.26. Following the completion of the sale, the insider now owns 491,381 shares of the company’s stock, valued at $7,793,302.66. This trade represents a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Branden Neish also recently made the following trade(s):

• On Monday, December 16th, Branden Neish sold 7,111 shares of Weave Communications stock. The stock was sold at an average price of $15.95, for a total transaction of $113,420.45.

Weave Communications Stock Performance

Weave Communications stock traded up $0.53 during mid-day trading on Tuesday, hitting $16.34. 598,409 shares of the company’s stock traded hands, compared to its average volume of 701,465. Weave Communications, Inc. has a one year low of $8.10 and a one year high of $16.56. The company has a market cap of $1.19 billion, a PE ratio of -40.84 and a beta of 1.92. The firm has a 50 day moving average price of $15.27 and a 200 day moving average price of $12.99. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09.

Weave Communications (NYSE:WEAV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.08) earnings per share for the quarter. The company had revenue of $52.39 million during the quarter, compared to analyst estimates of $51.47 million. Weave Communications had a negative return on equity of 28.01% and a negative net margin of 14.64%. During the same period in the previous year, the company earned ($0.10) EPS. On average, equities analysts forecast that Weave Communications, Inc. will post -0.38 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its stake in Weave Communications by 3.8% during the 2nd quarter. AQR Capital Management LLC now owns 68,687 shares of the company’s stock valued at $620,000 after purchasing an additional 2,516 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Weave Communications in the second quarter valued at $134,000. The Manufacturers Life Insurance Company boosted its stake in Weave Communications by 26.3% during the second quarter. The Manufacturers Life Insurance Company now owns 15,923 shares of the company’s stock valued at $144,000 after buying an additional 3,315 shares in the last quarter. Algert Global LLC grew its holdings in Weave Communications by 2.6% during the second quarter. Algert Global LLC now owns 181,768 shares of the company’s stock worth $1,640,000 after acquiring an additional 4,659 shares during the period. Finally, Point72 Asset Management L.P. raised its position in Weave Communications by 5.4% in the second 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 in the last quarter. Institutional investors and hedge funds own 86.83% of the company’s stock.

Analyst Upgrades and Downgrades

WEAV has been the topic of a number of recent research reports. Piper Sandler raised their price target on shares of Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Loop Capital boosted their price objective on Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group upped 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. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Weave Communications has an average rating of “Buy” and a consensus 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.