Weave Communications, Inc. (NYSE:WEAV) Director Sells $673,738.29 in Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 40,907 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $16.47, for a total value of $673,738.29. Following the completion of the sale, the director now directly owns 199,261 shares of the company’s stock, valued at approximately $3,281,828.67. This trade represents a 17.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Weave Communications Price Performance

WEAV opened at $16.35 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59. The stock has a market capitalization of $1.19 billion, a PE ratio of -40.87 and a beta of 1.92. The stock’s 50 day moving average price is $15.48 and its 200-day moving average price is $13.18. Weave Communications, Inc. has a 52-week low of $8.10 and a 52-week high of $16.86.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP lifted its position in shares of Weave Communications by 40.9% in the 3rd 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 during the period. State Street Corp lifted its holdings in Weave Communications by 19.5% in the third quarter. State Street Corp now owns 950,683 shares of the company’s stock worth $12,169,000 after buying an additional 155,054 shares during the period. Geode Capital Management LLC boosted its position in Weave Communications by 13.0% during the 3rd 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 in the last quarter. Lord Abbett & CO. LLC boosted its position in Weave Communications by 37.7% during 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. Finally, Pathway Capital Management LP purchased a new position in shares of Weave Communications during the 3rd quarter worth approximately $7,308,000. 86.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WEAV has been the subject of several recent research reports. The Goldman Sachs Group boosted their price objective on 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 upped their price target on shares of Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, 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 report on Thursday, October 31st. One investment 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 MarketBeat.com, the stock has an average 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.