Weave Communications, Inc. (NYSE:WEAV) Director Sells $95,713.25 in Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 5,485 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $17.45, for a total value of $95,713.25. Following the sale, the director now owns 188,441 shares in the company, valued at approximately $3,288,295.45. This represents a 2.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Weave Communications Stock Down 0.8 %

Shares of NYSE:WEAV traded down $0.15 during mid-day trading on Tuesday, reaching $17.30. 659,054 shares of the stock were exchanged, compared to its average volume of 792,924. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The stock’s 50 day simple moving average is $15.91 and its 200-day simple moving average is $13.53. The company has a market cap of $1.26 billion, a P/E ratio of -43.24 and a beta of 1.91. Weave Communications, Inc. has a one year low of $8.10 and a one year high of $17.48.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its holdings in Weave Communications by 161.9% during the 3rd quarter. FMR LLC now owns 97,991 shares of the company’s stock worth $1,254,000 after purchasing an additional 60,574 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Weave Communications by 11.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 435,099 shares of the company’s stock valued at $5,569,000 after buying an additional 45,475 shares during the last quarter. XTX Topco Ltd lifted its stake in shares of Weave Communications by 429.2% in the 3rd quarter. XTX Topco Ltd now owns 56,016 shares of the company’s stock valued at $717,000 after purchasing an additional 45,430 shares during the period. Pathway Capital Management LP acquired a new position in shares of Weave Communications in the 3rd quarter valued at about $7,308,000. Finally, Summit Global Investments acquired a new position in Weave Communications during the 3rd quarter worth approximately $460,000. 86.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WEAV. Loop Capital upped their price target on Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Piper Sandler upped their price target on Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group raised their price target on 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus 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.