Blake G. Modersitzki Sells 242,820 Shares of Weave Communications, Inc. (NYSE:WEAV) Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 242,820 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $14.38, for a total transaction of $3,491,751.60. Following the sale, the director now owns 244,616 shares in the company, valued at $3,517,578.08. This trade represents a 49.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Weave Communications Price Performance

Weave Communications stock traded up $0.15 during mid-day trading on Tuesday, hitting $14.94. The company’s stock had a trading volume of 1,315,230 shares, compared to its average volume of 531,245. Weave Communications, Inc. has a twelve month low of $8.10 and a twelve month high of $15.23. The stock’s fifty day moving average price is $13.55 and its two-hundred day moving average price is $11.28. The stock has a market capitalization of $1.09 billion, a P/E ratio of -36.98 and a beta of 2.00. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09.

Hedge Funds Weigh In On Weave Communications

A number of hedge funds have recently modified their holdings of the stock. nVerses Capital LLC acquired a new stake in shares of Weave Communications during the third quarter valued at approximately $45,000. Quarry LP purchased a new position in Weave Communications during the 3rd quarter worth approximately $45,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Weave Communications by 48.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company’s stock valued at $90,000 after purchasing an additional 3,228 shares during the period. Private Management Group Inc. purchased a new stake in shares of Weave Communications in the second quarter valued at $90,000. Finally, US Bancorp DE acquired a new stake in shares of Weave Communications in the third quarter worth $107,000. 86.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on WEAV. Piper Sandler raised their price objective on shares of Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lifted 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, Loop Capital upped their price objective on Weave Communications from $15.00 to $18.00 and gave the company 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus 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.