Joseph David Mcneil Sells 51,638 Shares of Weave Communications, Inc. (NYSE:WEAV) Stock

Weave Communications, Inc. (NYSE:WEAV) CRO Joseph David Mcneil sold 51,638 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $11.16, for a total value of $576,280.08. Following the completion of the transaction, the executive now owns 298,362 shares of the company’s stock, valued at $3,329,719.92. This trade represents a 14.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Weave Communications Stock Performance

Shares of WEAV stock opened at $11.72 on Friday. The business has a fifty day moving average of $14.60 and a 200 day moving average of $13.98. The firm has a market capitalization of $865.81 million, a price-to-earnings ratio of -30.04 and a beta of 1.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59. Weave Communications, Inc. has a 1 year low of $8.10 and a 1 year high of $17.63.

Weave Communications (NYSE:WEAV) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.12). The company had revenue of $54.17 million for the quarter, compared to analyst estimates of $53.23 million. Weave Communications had a negative return on equity of 28.37% and a negative net margin of 13.87%. As a group, research analysts expect that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

Institutional Investors Weigh In On Weave Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WEAV. Aquatic Capital Management LLC acquired a new stake in Weave Communications during the 4th quarter worth about $34,000. Quarry LP acquired a new stake in shares of Weave Communications during the 3rd quarter valued at about $45,000. Amundi acquired a new stake in shares of Weave Communications during the 4th quarter valued at about $66,000. Summit Investment Advisors Inc. grew its position in shares of Weave Communications by 28.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company’s stock valued at $66,000 after acquiring an additional 928 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Weave Communications during the 4th quarter valued at about $131,000. 86.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Raymond James restated a “strong-buy” rating and issued a $20.00 target price (up previously from $17.00) on shares of Weave Communications in a research note on Friday, February 21st.

Weave Communications Company Profile

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.