Insider Selling: Weave Communications, Inc. (NYSE:WEAV) Director Sells 79,863 Shares of Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 79,863 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $14.30, for a total value of $1,142,040.90. Following the sale, the director now directly owns 291,070 shares of the company’s stock, valued at $4,162,301. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Weave Communications Stock Performance

NYSE WEAV traded down $0.41 during midday trading on Wednesday, hitting $13.75. The company had a trading volume of 1,274,749 shares, compared to its average volume of 498,653. The firm has a fifty day simple moving average of $12.63 and a two-hundred day simple moving average of $10.67. Weave Communications, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $14.50. The company has a quick ratio of 1.64, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -34.38 and a beta of 2.08.

Hedge Funds Weigh In On Weave Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of 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 in the last quarter. AXA S.A. bought a new position in Weave Communications in the second quarter worth $11,590,000. Acadian Asset Management LLC boosted its stake in Weave Communications by 1.0% during the first quarter. Acadian Asset Management LLC now owns 784,270 shares of the company’s stock worth $9,002,000 after buying an additional 7,511 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Weave Communications by 17.8% in the 2nd quarter. Renaissance Technologies LLC now owns 593,500 shares of the company’s stock valued at $5,353,000 after buying an additional 89,600 shares during the period. Finally, Pathway Capital Management LP bought a new stake in Weave Communications in the 3rd quarter valued at $7,308,000. 86.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WEAV. Loop Capital boosted their price objective 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 target on 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 lifted their price objective on Weave Communications from $16.00 to $17.00 and gave the stock 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 stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target 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.